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loan-to-deposit ratio (LDR) moderating to 77.7% in October the lowest in the last 30 months, said a report by Motilal Oswal. Outstanding LDR was at 79%. Analysts say that the gap between credit and deposit growth will narrow down to less than 100 basis points over coming months versus 350 basis points seen presently. «While the gap between deposit and credit growth has narrowed from the peak of 8.8% in November 2022 to 3.5% currently, the high incremental LDR and continued regulatory watch on both LDR and liquidity coverage ratios (LCR) will drive further moderation in loan growth,» said Nitin Aggarwal, Institutional Research – Head BFSI, Motilal Oswal Securities. «We estimate the differential between credit and deposit growth to narrow down to less than 100 basis points over the year.» The LDR assesses a bank's liquidity by comparing total loans to total deposits, with a high LDR indicating potential liquidity issues. Indian banks' deposit growth has largely remained slow as savings are moving towards alternative avenues like mutual funds, equity investments, and real estate.

Michael Jackson, Frank Sinatra and Ray Charles, has died at 91. His demise came as a shock for music-lovers and condolences poured in from everywhere. As per the musician’s publicist, Arnold Robinson, Quincy Jones “passed away peacefully” on November 03, Sunday night at his Bel Air residence.

CIF liner out for rice sourced from India, an official in Bangladesh and European traders said. Offers are still being considered and no purchase has yet been made, they said. The lowest offer was believed to have been submitted by Pattabhi Agro Foods, they said.

CIL's priorities should be to ramp up production of coal and scale up supplies to reduce imports, Union Minister G Kishan Reddy has said. Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output. Speaking at CIL's 50th Foundation Day on Sunday, the minister stressed upon the importance of miners' welfare and the rehabilitation of communities affected by mine closures. «Contractual workers play a significant role in Coal India's output, and I applaud the management's decision to implement Performance Linked Incentives for them, effective FY 2023-24,» he was quoted as saying in a coal ministry statement. The launch of commercial coal mining has led to transparency, ease of doing business and investment opportunities, helping open the coal sector.

Agrochemical firm Crystal Crop Protection on Monday said it has acquired Bengaluru-based I&B Seeds as it seeks to strengthen its position in India's vegetable and flower-seed segment. «The deal has been fully executed with shares purchased from two major shareholders. The share transfer was completed last week on the day of Diwali,» Crystal Crop Protection Managing Director Ankur Aggarwal told PTI. The company, however, did not disclose the deal amount. The acquisition was funded through internal accruals and marks Crystal Crop's fifth purchase in the seeds business and twelfth overall.

These awards not only honour achievements but also spotlight individuals who have changed the trajectory of industries and economies. They embody the fusion of innovation and leadership at the highest level, with past recipients reading like a Who's Who of global icons: the late Ratan Tata, John Chambers, Kris Gopalakrishnan, Uday Kotak, Indra Nooyi, Azim Premji, and other titans who have left an indelible mark on the world stage. The 2024 honorees—Narayana Murthy, Shantanu Narayen, and Abhinav Asthana—now join these legends.

New Delhi: Power giant NTPC and oil major ONGC on Monday announced that they have joined hands to explore opportunities in the area of new and renewable energy. The two entities will form a joint venture through their respective subsidiaries, NTPC said in a statement. «NTPC and ONGC have collaborated to form a Joint Venture Company (JVC) through their Green Energy Subsidiaries (NTPC Green Energy Ltd and ONGC Green Energy Ltd) to further promote their interest in renewable and new energy arena,» it said. NGEL has also submitted an application to the Ministry of Corporate Affairs for the incorporation of a 50:50 Joint Venture Company with OGL, the statement said.

Welspun Corp Ltd (WCL) on Monday said it has bagged two new orders in the US worth Rs 1,300 crore for supplying specialised pipes for natural gas pipeline projects. It aims to execute the order for Helical Submerged Arc Welded (HSAW) pipes in the financial year 2025-26, the company said in an exchange filing. «Our outlook for the USA market remains extremely positive. We have also participated in a few more projects and are favourably placed in additional 1-2 large projects,» the company said. Part of USD 5 billion Welspun World, Welspun Corp is primarily engaged in the business of manufacture and distribution of steel and steel products.

Commercial vehicle maker and Hinduja Group flagship firm Ashok Leyland on Monday said its total vehicle sales declined 9 per cent to 15,310 units in October. It had sold a total of 16,864 vehicles in the year-ago period. Total medium and heavy commercial vehicle (M&HCV) sales, including exports, in the previous month stood at 9,408 vehicles, a drop of 8 per cent over 10,185 M&HCVs sold in the corresponding month of last year, the company said. The total light commercial vehicle sales (domestic plus exports) during the reported period also fell 12 per cent year-on-year to 5,902 units.

Indian Railways is managing increased passenger demand during the Chhath festival by operating special trains. Following the successful management of passenger rush during Durga Puja, Dussehra, and Diwali, the national transporter is now running over 7000 festival special trains up to the Chhath festival in 2024. Today, November 4, 2024, Northern Railway operates 39 Festival Special trains. This measure aims to accommodate the surge of travelers heading towards Bihar, Uttar Pradesh, and other regions. These Festival Special trains are particularly focused on routes from Delhi to various destinations in Bihar and Uttar Pradesh. This step is taken to ensure smooth travel during the festive season.

Subscribe to enjoy similar stories. New Delhi: Practitioners and experts said proposed changes to the Arbitration Act should include provisions to minimise court intervention when litigants settle for out-of-court dispute resolution. While reforms pitched by the government seek to promote institutional arbitration, they still have provisions which would delay dispute resolution by allowing courts to intervene, said experts.

The ministry has formed sub-groups to address specific areas like political intervention, administrative reforms and financial resources, they said. The five-member Sixteenth Finance Commission, chaired by former Niti Aayog vice chairman Arvind Panagariya, was constituted on December 31, 2023, and is expected to finalise its recommendations by October 2025. Its recommendations will be valid for five years from 2026-27 to 2031-32.

data centre market. With a colocation capacity of 88 MW, the city is well positioned for the digital economy of the future. Sobia Khan finds out more:

Insolvency and Bankruptcy Code (IBC) to address future challenges in corporate recast effectively. In an internal communication dated October 30, the ministry said: «The Code's adaptability to evolving business landscapes ensures that it remains dynamic and responsive, while its continuous refinement will be essential for effectively addressing future challenges in insolvency management and corporate restructuring». The communication to stakeholders comes ahead of the government's plan to introduce a raft of amendments to the IBC in the winter session of Parliament, likely in December.

Days of Our Lives will return for its 61st season, exclusively on Peacock. The series, which began airing in 1965, continues to capture audiences.

oil output increase by one month, three sources from the producer group told Reuters on Sunday, as weak demand notably from China and rising supply outside the group maintain downward pressure on the oil market. The OPEC+ group, combining the Organization of the Petroleum Exporting Countries plus Russia and other allies, was scheduled to raise output by 180,000 barrels per day in December. It had already delayed the increase from October because of falling prices. However, weak demand and economic data raised concern in the group about adding more supply, sources told Reuters last week ahead of the decision to postpone the hike made on Sunday after consultations between ministers.

Coal India aims to eliminate Rs 2,200 crore in accumulated losses at its subsidiary, Eastern Coalfields Ltd (ECL), and to rejoin the dividend list by FY 2025-26, a top official said on Sunday. At the foundation day event, Coal India chairman P M Prasad said Bharat Coking Coal Ltd, another previously loss-making subsidiary, has already re-entered the dividend list. He expressed confidence that ECL would achieve similar success by FY 2025-26. Coal India has seven coal-producing subsidiaries. «ECL is performing well and is on track to meet its production target of 54 million tonnes this year. We expect to eliminate two-thirds of its Rs 2,200 crore accumulated losses this fiscal year, with the remaining losses cleared by the following year, allowing it to rejoin the dividend list,» Prasad said. He added that the next few months would present challenges for production due to monsoon impacts on growth.

sales realisation. Barring three leading cement producers — UltraTech Cement, Ambuja Cement, and Dalmia Bharat — other smaller players, including Nuvoco Vistas Corp, JK Cement, Birla Corporation, and Heidelberg Cement, reported a decline in topline and sales volume in the second quarter of the current fiscal year. Industry observers said the increase in sales volume of UltraTech and Ambuja Cements is mainly due to the several acquisitions by both companies that consolidated their position further in the industry. The industry also faced challenges such as extended monsoon, floods, and a slow pickup in government demand, cumulatively leading towards a weak demand.

MAHSR) or popularly known as the Ahmedabad-Mumbai bullet train project has marked a major achievement with the completion of all nine river bridges between Vapi and Surat, a release said on Sunday. The latest construction is a bridge over the Kharera River in Navsari district in Gujarat. The Kharera bridge is the twelfth completed river bridge of the twenty bridges planned in Gujarat for India's ambitious high-speed rail corridor. The construction project of the bridge finished on October 29. The Kharera River bridge stretches 120 meters in length, supported by three full-span girders measuring 40 meters each. Its piers rise between 14.5 and 19 meters in height and include one circular pier of 4 meters and three of 5 meters in diameter.

financial issues, according to an official document. The government is also taking various measures to keep RINL as a going concern, the Ministry of Steel said in a note. «In this regard, the Government of India has infused Rs 500 crore towards equity on September 19, 2024, and a working capital loan of Rs 1,140 crore on September 27, 2024,» according to the document. It also said that SBICAPS, a wholly-owned subsidiary of the State Bank of India (SBI), is preparing a report on the sustainability of RINL.

In the two weeks leading up to Diwali this year, an impressive 3.9 crore liquor bottles were sold across the capital, generating a remarkable Rs. 448 crore in revenue through 680 shops operated by four government corporations. This year’s figures mark a substantial increase compared to the previous two years. In 2022, 1.9 crore bottles sold for Rs. 324 crore, while 2023 saw sales rise to 2.7 crore bottles worth Rs. 433 crore.