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Banking PSU Banking Shares News: Banking Shares Slump On Fears Of Defaults Amid Rising Covid Infections

Nifty PSU Bank, Private Bank and Financial Services indexes also fell between 3-5 per cent. Banking shares dropped on Monday as rising coronavirus infections in the country stoked fears that loan defaults may rise as renewed lockdowns to curb the spread of infections would hamper the economic activity. The gauge of 12 banking shares on the National Stock Exchange - Nifty Bank index - slumped as much as 4.91 per cent or 1,572 points to hit an intraday low of 30,405.65. Hit by the second Covid wave, India recorded 2,73,810 fresh infections and 1,619 deaths in a new record high in the past 24 hours, taking the caseload to 1.5 crore; 1.78 lakh people have died so far. This is the fifth straight day that over 2 lakh cases were reported.

Banks fear second wave of defaults as curbs begin to bite

Banks fear second wave of defaults as curbs begin to bite Premium Bankers fear the lockdown-like curbs, including curfews, travel restrictions and mall shutdowns, are likely to hurt borrowers, triggering a second wave of defaults. Without a repayment moratorium like the one announced by the RBI last year, the defaults are likely to pinch banks harder Share Via Read Full Story MUMBAI : Banks, bruised by the pandemic last year, are bracing for more pain as the second wave of the pandemic threatens to raise loan default rates and worsen asset quality. Bankers fear the lockdown-like curbs, including curfews, travel restrictions and mall shutdowns, are likely to hurt borrowers, triggering a second wave of defaults. Without a repayment moratorium like the one announced by the Reserve Bank of India (RBI) last year, the defaults are likely to pinch banks harder.

Letters to the editor dated April 12, 2021 - The Hindu BusinessLine

Being humanWith reference to Viewsroom column ‘Being human’, when a State Chief Minister mentions his prevailing illness and still talks about why all eligible people must take vaccines then it sends

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