RBI says 36% of total bad loans from six key sectors

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The Reserve Bank has said about 36 per cent of the overall 4.1 per cent bad assets in system have been created by six sectors of the economy – infrastructure, metals, textiles, chemicals, engineering and mining which have only 30 per cent of the credit share. The central bank, in its annual report for FY2013-14, said the gross non-performing assets ratio for the non-priority sector grew to 4 per cent as of March 2014 as against 3 per cent in the year ago period, while the same for priority sector stood stable at 4.4 per cent. It also said the contribution of mandatory priority sector loans to the overall bad assets have come down during the last fiscal.

The RBI said that the non-priority sector has contributed more in the deterioration of the loan asset quality of the banking sector in recent years. It further added that the contribution of Priority Sector Lending (PSL) loans to the overall bad loans narrowed to 36 per cent as of FY’14 from 40 per cent in FY’13. Commenting on the health of the sector, the RBI said it remains satisfactory.

On reports of some improvement shown by the banks in th

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Categories : Business

Hamas executes four Israeli spies in Gaza

24082014

Posted on August 24, 2014 by sagarmedia

Standard

Hamas, which controls the Gaza Strip, killed four more Palestinians suspected of spying for Israel. Masked Hamas militants shot the Palestinians in the courtyard of a mosque in the Jabaliya refugee camp. Hamas-affiliated Al-Majd website quoted security sources as saying that the four were executed after legal measures were completed. The Islamist faction declined to release the names or pictures of the executed for the sake of social stability, fearing backlash against their families. The total number of Palestinian suspects killed has risen to 25; 18 of whom were executed on Friday and three on Thursday.

Earlier, the Palestinian Authority, which controls the West Bank, denounced the executions of alleged collaborators, calling them extra-judicial. Amnesty International called on Hamas to halt the campaign of summary executions of suspected collaborators.

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Categories : Business, Uncategorized

Vinod Rai: UPA pressured me to drop names from CWG, coal reports:

24082014

Former Comptroller and Auditor General Vinod Rai has put Congress in an embarassing situation with his revelations that the UPA government had pressurized him to drop names of some persons in reports on Commonwealth Games and Coal scams. Rai in his upcoming book has also accused former Prime Minister Manmohan Singh of running away from his responsibilities. In a newspaper article about the book, Rai has been quoted as saying that politicians came to his house and told him not to name some people and protect others in connection with the CWG and coal allocation reports.

Reacting to Rai revelations, Congress leader Manish Tewari questioned the timing of such disclosures saying Rai should have spoken while in office. Speaking to reporters in New Delhi today, Tewari said the allegations are an attempt by Rai to sell his book.

BJP Secretary Shrikant Sharma said Rai’s allegations are another chapter of Congress’ corrupt history. Talking to AIR, he said rather than criticizing the former Comptroller and Auditor General, Congress should tell whose names it wanted to be deleted from CAG reports.

CPI leader Atul Anjan dubbed Vinod Rai’s revelations as serious and astonishing. Speaking to AIR, he demanded that the government seek details from Rai and initiate legal action against those who pressured him.