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Bank lending to industry saw power sector lead growth in early FY27. Chemicals and vehicles also experienced significant increases in credit allocation. Telecommunications exposure declined, reflecting a shift in lender priorities. Overall infrastructure sector growth was positive, excluding telecommunications contraction. Industry's share in total bank credit continued its gradual decline.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/WENpwkH
Plan your bank visits carefully as several branches will be closed on specific dates this July due to regional holidays. West Bengal and Mizoram observe closures today, July 6. Further state-specific holidays are scheduled across Meghalaya, Odisha, Uttarakhand, Manipur, Sikkim, and Tripura. Remember, Sundays and the second and fourth Saturdays also mean branch closures. Digital banking services remain unaffected.
America's mounting debt is now the primary threat to its global economic dominance, surpassing external competition. Deutsche Bank warns that persistent deficits and soaring interest payments are eroding a key advantage. While the US possesses enduring strengths, the nation faces imminent fiscal challenges, including the potential exhaustion of Social Security and Medicare funds, which will demand urgent attention from future administrations.
Pakistan's fiscal decentralisation efforts have failed to bridge regional spending gaps, with provincial capitals like Quetta and Lahore receiving significantly more per person than their own provinces. Despite budget surpluses in some areas, poorer regions face underinvestment. Concerns also arise over education and healthcare spending not yielding desired results, alongside widespread financial irregularities uncovered by auditors.
The Central Bureau of Investigation (CBI) has apprehended Amit Bapna, former CFO of Reliance Capital Ltd, as part of its probe into Reliance ADA Group matters. Authorities allege Bapna, a key financial decision-maker, approved loans to intermediary firms despite knowing it violated RBI guidelines. Funds were reportedly diverted to various Reliance group entities, causing losses to banks and gains for the accused.
