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The provision coverage ratio of the PSBs, a measure of health that captures amounts set aside to cover bad loans, has improved to 86.9% at the end of March 2022 from 46% at the end of March 2015. The state-run banks have recovered ₹5.17 lakh crore in non-performing assets (NPAs) and ₹1.24 lakh crore in written-off accounts since FY15.

A capital reduction is done when companies want to decrease their shareholding. This could be done through either a share cancellation or a share buyback. In the ruling, NCLAT said that the capital reduction was approved by all the shareholders with the objective of reducing the overall weighted average cost of capital and improving the earnings per share, and there were no objections from any of the creditors of the appellant.

Meanwhile, Zanmai Labs, which operates WazirX in India, is exploring the legal route amid an ownership dispute with the world’s largest exchange by volume, according to sources.

He said online education, despite all its advantages, is not the solution to all problems and as the world goes back to normalcy, the industry has started going back to a hybrid mode of learning - the schools have albeit started going back to classrooms.

On July 6, the Reserve Bank of India (RBI) permitted banks to garner FCNR (B) and NRE deposits from the Indian diaspora without any interest rate cap. Such relaxations are available until October 31 and November 4, respectively. The central bank also relaxed rules for external commercial borrowings, seeking to arrest the outflow of funds and ease pressure on the rupee.

"We have forecast double-digit growth this festive season over the festive months of 2019," said Vishal Chaturvedi, vice-president (South Asia), The Body Shop. "This includes gifting across various upcoming festivals, Diwali and the wedding season. People are also coming back to physical stores after the last two years of stress, which were bad for us as well."

"The key question is whether it will decide that a material rise in the unemployment rate is necessary to achieve its objectives," he warned. "If this is the case, its guidance on rates will move significantly higher, alongside a message that it will likely prove to be less sensitive to near-term growth disappointments."

Airtel, Adani Ports, Power Grid, Samvardhana Motherson, Delhivery, Indian Hotels, UNO Minda, Vedant Fashions, Torrent Power, Whirlpool and Nalco are among the companies that will announce their earnings for the quarter ended June 2022.

“Overall, the earnings season in India was in line with expectation, while revenue growth was ahead of expectation, indicating a healthy demand environment,” said Surjitt Singh Arora, Portfolio Manager-PMS, PGIM India.

“From a three-year perspective, given the strong cash flows and business fundamentals, valuations are coming into an attractive zone,” he said.As a result, banks could see better profitability. In addition, given better asset quality metrics, healthy provisions and sufficient capital levels, we remain positive on this space. Credit growth will be key for outperformance.