The bank also reported its highest ever gross non-performing asset (NPA) ratio at 30.78 per cent, up 283 basis points (bps) sequentially. Provisions stood at Rs 5,236 crore in the June quarter, 157 per cent higher than what it had reported in Q1FY18.
The RBI’s contention is that preference shares do not count towards the equity share capital. Many analysts had questioned the Kotak Mahindra Bank move, saying that the move is not in line with the spirit of the RBI’s guidelines on cutting promoter stake in the bank.
Growing trade imbalance would worsen current account deficit (CAD). Already, the rupee’s depreciation has raised fears of costlier imports while the country’s ability to take advantage of a weak currency to improve exports remains limited.
A shift away from determining airport tariffs on the basis of costs incurred by the airport developer is expected to disincentivise the company to incur excessive capex or operating expenses in order to seek higher aeronautical tariff.
The duty on cell imports, analysts had said, could potentially raise solar power tariffs by 50 paise per unit and have significant implications for the country’s ambitious renewable capacity addition programme.
Last Thursday, Jet Airways’ founder Naresh Goyal said at the company’s annual general meeting that he felt “guilty and embarrassed” for the company’s shareholders losing their money, given that the airline’s shares have fallen sharply due to the financial troubles.
The CSO data revealed that inflation in vegetables declined by (-) 2.19 per cent last month, compared to 7.8 per cent in June. The rate of price rise in fruits slowed down 6.98 per cent, as against over 10 per cent in the previous month.