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Why do we need a bad bank, owned by the banks themselves when there are at least 28 ARCs around, asks Tamal Bandyopadhyay. Illustration: Uttam Ghosh/ Rediff.com The headache over recovery of bad loans will be less for bankers now. The Budget says there will be an asset reconstruction company (ARC) and an asset management company (AMC) to consolidate and take over their large bad loans, manage them and sell them to alternative investment funds and other investors. Why do we create a moral hazard by allowing the banks themselves to own a bad bank when there are at least 28 ARCs around? (One more, to be floated by Yes Bank Ltd, is awaiting the regulatory nod.) Except for a few owned by strong investors, most dont have enough capital to buy such loans. The insolvency law has been slow in the recovery of bad loans for many reasons. Under this law, any default of at least Rs 100,000 could be dealt at the National Company Law Tribunal (NCLT), a quasi-judicial body that ... » Learn More about Questions to ask about the Bad Bank

The Comprehensive Agreement on Investment, once inked by the European Union and China, will become an important milestone for the two major economies. To some extent, the CAI, on which the two sides wrapped up negotiations on Dec 30, can be considered more important than a trade agreement for the EU. We (at Deutsche Bank) believe the CAI will likely boost EU investment in China. For EU manufacturers, China's move to further widen market access and remove shareholding limits will likely help create new opportunities and build a level playing field for domestic and foreign investors. Perhaps the service sector can be expected to make even greater progress after the two sides sign the agreement. EU subsidiaries in China accounted for 11 percent of the total manufacturing sales, but only 3 percent of services sales of EU subsidiaries worldwide. By further opening up China's financial and information technology services－as well as promising sectors such as environment and health ... » Learn More about China-EU investment deal more vital than FTA

Recently, UN Secretary-General Antonio Guterres sharply criticized the “wildly uneven and unfair” distribution of COVID-19 vaccines. Addressing the Security Council, Guterres noted that just 10 countries have administered 75 percent of all vaccinations. Meanwhile, 130 countries had not received a single dose. In two reports – The Tragedy of Missed Opportunities (April 2020) and The Tragedy of More Missed Opportunities (August 2020) – I documented four missed opportunities in the mobilization against the global pandemic last year. Without vaccination equity, the ongoing year could represent the fifth missed opportunity and even more challenging long-term prospects. Failure of early mobilization The first opportunity emerged around the first recorded case (Dec 30, 2019), and the WHO’s announcement of the international emergency (Jan 30, 2020). Then, the epicenter of the outbreak was still in Wuhan, Hubei. After mid-January, China introduced social distancing and launched a ... » Learn More about Vaccine inequality: A new beginning or another missed opportunity?

#Corona Vaccine COVID-19 recovered people showing faster antibody response to Covishield vaccine #Corona Vaccine Get a dose 24x7 at your convenience: Govt removes time constraint for getting Covid-19 shot #Corona Vaccine Coronavirus cases: India records 14,989 new COVID-19 cases, 98 fresh fatalities in past 24 hours #Corona Vaccine List of side effects of Covishield and Covaxin #Corona Vaccine Centre allows states to take call on converting more private hospitals into vaccine sites #Corona Vaccine TMC writes to EC over PM Modi’s photo on Covid-19 vaccination doc For Quick Alerts Subscribe Now India-made Covaxin showed 81% interim efficacy: Bharat Biotech on Phase 3 results View Sample For Quick Alerts ALLOW NOTIFICATIONS For Daily Alerts Just In 6 min ago Jan Sangh founded by Bengal's son, still Mamata calls BJP 'outsider party': Nitin Gadkari ... » Learn More about India-made Covaxin showed 81% interim efficacy: Bharat Biotech on Phase 3 results

#Indo China Bilateral heavily titled in China’s favour, needs a reset: Foreign Secretary #Indo China India-China agree to establish hotline between foreign ministers #Indo China We were resolute, strong about protecting our interests: S Jaishankar on border issue #Indo China Broader de-escalation of troops once disengagement is completed at all friction points: Jaishankar tells Wang #Indo China India set to clear 45 investments from China: Non-sensitive sectors to get faster approval #Indo China No significant breakthrough during Indo-China talks, but proposals to be taken forward For Quick Alerts Subscribe Now India-made Covaxin showed 81% interim efficacy: Bharat Biotech on Phase 3 results View Sample For Quick Alerts ALLOW NOTIFICATIONS For Daily Alerts Just In 6 min ago Jan Sangh founded by Bengal's son, still Mamata calls BJP 'outsider party': Nitin ... » Learn More about Ex-army man who received Star Medal during Indo-China war now drives an auto for a living

As a child I was always puzzled by the Chinese concept of nei (internal) and wai (external). We came from a humble background, meaning food was not always abundantly available at home. Yet whenever an occasion arose－a festival or a knock on the door by a neighbor or distant relative－mom managed to concoct some dishes. This was especially the case during Spring Festival, when people enjoy the family reunion dinner, the best meal of the year. We kids would always complain about mom favoring non-family members with food. Giving one dish away meant one less for us. To which, mom would explain the need to balance nei and wai, often by doing good deeds. We felt that mom was doing this to give "face" to dad and, if we continued protesting, mom would add: "One day you will understand the true meaning of being a good neighbor." Reflections on good neighbor Reflecting on being a good neighbor, I came across four articles on China's evolving international vaccine assistance initiative ... » Learn More about China’s vaccine initiative strengthens global fight against virus

With India’s daily new Covid-19 infections slowing and the vaccination drive gaining pace, analysts are betting on a stronger rebound in the economy and corporate profits in the months ahead. Robust, better-than-expected third-quarter results have given a big fillip to India Inc . The markets now need just one thing to keep rising --- earnings . And the Street sees them rising, with major brokerages upgrading earnings estimates for FY21-23 for major firms. Cyclical rebound Materials have seen the biggest average earnings growth among sectors in the latest quarter, boosted by JSW Steel’s profit and sales surge. Strong loan growth at banks such as HDFC Bank saw most of them beat estimates, even as they continued to set aside more money for bad loans. This year, “forward earnings will grow much faster than market appreciation, so the PE multiples will come off," Neelkanth Mishra, India strategist at Credit Suisse, said in a podcast. Earnings estimates will keep ... » Learn More about India Inc set for major earnings bonanza next fiscal

#Saina Nehwal Ace badminton player Saina Nehwal joins BJP #Saina Nehwal Naxalites warn Akshay Kumar against giving aid to jawans #Saina Nehwal Padma Awardees: From Rajnikanth to Anupam Kher, know who all got 2nd highest civilian award #Saina Nehwal National and Internationak News in brief for March 8 #Saina Nehwal Now LK Advani, Ramdev to get Padma award #Saina Nehwal Pity that athletes feel they have to lobby for awards: Omar Abdullah For Quick Alerts Subscribe Now India-made Covaxin showed 81% interim efficacy: Bharat Biotech on Phase 3 results View Sample For Quick Alerts ALLOW NOTIFICATIONS For Daily Alerts Just In 6 min ago Jan Sangh founded by Bengal's son, still Mamata calls BJP 'outsider party': Nitin Gadkari 1 hr ago BJP has no right to chant ‘Bharat Mata Ki Jai’: Uddhav Thackeray 1 hr ago 13,000 more troops cleared for ... » Learn More about Saina Nehwal biopic starring Parineeti Chopra to release in March

#Bjp BSP chief Mayawati slams UP govt over law and order situation in state #Bjp Big blow to Chirag Paswan as 200 active LJP members decide to join BJP #Bjp BJP MP Kaushal Kishore’s son shot at in Lucknow #Bjp BJP to unleash high-voltage campaign to wrest power in Puducherry #Bjp Prashant Kishor has left 'Didi' to join Amarinder even before poll results are announced: BJP #Bjp Take the shot: BJP suggests to its ministers, leader For Quick Alerts Subscribe Now India-made Covaxin showed 81% interim efficacy: Bharat Biotech on Phase 3 results View Sample For Quick Alerts ALLOW NOTIFICATIONS For Daily Alerts Just In 6 min ago Jan Sangh founded by Bengal's son, still Mamata calls BJP 'outsider party': Nitin Gadkari 1 hr ago BJP has no right to chant ‘Bharat Mata Ki Jai’: Uddhav Thackeray 1 hr ago 13,000 more troops cleared for Nepal, ... » Learn More about BJP’s CEC to meet on Thursday to finalise first list of candidates for assembly polls

'The kind of jobs the advent of artificial intelligence, data science and so on are creating simply didn't exist before' Photograph: Kind courtesy, Gerd Altmann/Pixabay The IT industry in India has been grappling with a situation where the graduates, who enter the workforce, are already in some sense "outdated" in terms of the skills they possess vis-a-vis the demands. But now India is faced with an even bigger challenge: How do you ensure that the tech skills needed to survive in today's world are imparted across sectors and industries? The pandemic has aggravated the need as every category, from housewives to healthcare workers, were forced to adopt technology and develop digital skills overnight. Nasscom president Debjani Ghosh tells Anjuli Bhargava how the non-profit is working to bridge the skills gap and elaborates on its latest initiative, the Future Skills Prime project, for the government. Excerpts: Technology is emerging as a double-edged sword in ... » Learn More about ‘Across industries, there is a shortage of digital skills’