Central Bank of India has reported an increased net loss of Rs 6,430.48 crore for 2018-19 due to NPA divergence after assessment of higher bad loans by the Reserve Bank. The net NPA divergence -- the difference between the NPAs reported by the bank and that assessed by the RBI -- was at Rs 2,565 crore for 2018-19.Central Bank of India had reported a net loss of Rs 5,641.48 crore in 2018-19 earlier."The adjusted (notional) net profit after tax for the year ended March 31, 2019, after taking into account the divergence in provisioning is (-) Rs 6,430.48 crore," the bank said in a regulatory filing.Close Banks are required to report divergences in their asset classification and provisioning as per Sebi guidelines issued on October 31, 2019. related news RCap says shareholding in RGIC transferred to IDBI Trustee Services Govt explores national brand for textiles for global market Wall Street opens at record high as trade optimism persists The bank had reported Rs 11,333.24 crore … [Read more...] about Central Bank of India FY19 review: Net loss at Rs 6,430cr inflated due to NPA divergence
advertisement advertisement Ethonomic Indicator of the Day: 25%–amount of decrease in rainforest deforestation The climate is becoming increasingly unpredictable and global greenhouse gas emissions are increasing, but take heart: the destruction of the world’s largest rainforests (the Amazon, Congo, and Borneo Mekong) is actually down 25%, according to a new report from ForestCarbon Asia. So what are the governments in charge of these rainforests doing right? Protect Over the past decade, the countries of the Congo Basin designated 11% of the land as protected areas. Five countries–Cameroon, Democratic Republic of the Congo, the Republic of Congo, Gabon, and the Central African Republic–are reviewing their national forest policies “with a view to improving consistency of actions and integration between the forest sector and other sectors with potential impacts on trees and forests.” But besides Indonesia, most countries in Southeast Asia … [Read more...] about How To Prevent Rainforest Destruction
After a brief respite, air quality in the national capital deteriorated again on Tuesday due to calm winds and increased impact of farm fires, official said. According to the Central Pollution Control Board (CPCB), the city's overall air quality index (AQI) read 242 at 4 pm on Tuesday, up from 214 at the corresponding time the previous day.With a AQI of 330, Ghaziabad's air quality dropped to "very poor" category and was the most-polluted city in the country on Tuesday, the CPCB data revealed. Greater Noida (272) and Noida (256) recorded their AQI in the "poor" category.An AQI between 201 and 300 is considered "poor", 301-400 "very poor" and 401-500 "severe".Close Kuldeep Srivastava, a senior scientist at the India Meteorological Department (IMD), said the maximum wind speed dropped from 18 kilometers per hour on Monday to 10 kmph on Tuesday. related news Govt explores national brand for textiles for global market Finance Commission likely to reject $12 billion package to … [Read more...] about Delhi’s air quality deteriorates, may slide further
The government plans on setting up an Agri Entrepreunerial cell to encourage agri startups, said Ashok Dalwai, Chief Executive Officer at National Rainfed Area Authority, in an address at FICCI's Nurturing Agri Innovations 2019."We have now reserved 20 percent of Rashtriya Krishi Vikas Yojana to set up incubator facilities and to promote entrepreneurs. We need to ensure this is utilised properly," said Dalwai.Dalwai asked for industry inputs on how this fund should be utilised. He listed out the five key areas where agri startups should look to innovate. Increasing productivity, decreasing cost of production, transfer of real prices at higher rate to the producers, risk management and sustainability describe every stage of this vast agriculture value platform. He said these are the areas where disruption is required.Close He added there is an absence of robust policy at the government level to nurture agri-startups and there is a need to look at policy restrictions. … [Read more...] about Govt to set up Agri Entrepreneurial Cell for startups
K RaveendranIt is estimated that bets worth Rs 1,300 crore are placed on every One Day International (ODI) cricket match that the Indian team plays. These estimates cite an example from 2015, when the Indian cricket team played 21 ODI matches. This would mean a total betting amount of about Rs 27,300 crore.A Federation of Indian Chamber of Commerce and Industry (FICCI) report of 2013 put the size of India’s underground betting market size at Rs 3 lakh-crore and lamented that India was losing colossal amounts that should have been available for development, only if betting was regulated and taxed.Close This is the most compulsive argument in favour of legalising betting, which is now engaging the active consideration of the government. The Law Commission of India has produced a report titled Legal Framework: Gambling and Sports Betting Including Cricket in India, on a recommendation from the Supreme Court. related news Financial crunch due to Centre's failure to release … [Read more...] about Policy | Is it time to regulate gambling in India?