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Fitch Ratings | September 12, 2016
Six domestic lenders did not have enough cash to meet the minimum capital requirements by FY17E at the end of June 2016 while the capital adequacy ratio of 11 others was at or lower than the minimum of 11.5 per cent as required by the end of March 2019 under the Basel III norms, credit rating agency Fitch Ratings said in a report on Monday. This clearly shows the stress from increased capital requirement under the Basel norms would put further pressure on the banking sector in India .The agency ...
Fitch Ratings | March 01, 2016
"The budget is modestly credit positive for the sovereign, since it indicates a continued commitment to gradual fiscal consolidation by bringing down fiscal deficits to 3 percent over the next two years," said Atsi Sheth, a Moody's associate managing director for the Sovereign Risk Group, in a statement. "However, the proposals did not contain significant measures to address structural fiscal challenges, such as the government's low tax revenue base and the vulnerability o...
Fitch Ratings | July 20, 2016
Government's decision to inject Rs 22,900 crore ($3.4 billion) into 13 public sector banks, including PNBBSE -0.41 %, SBI and Bank of India, is supportive of the credit profiles of these lenders, it added. "That said, this step, on its own, is unlikely to address the pressures on the system driven by economic growth in light of the significant asset quality pressures and weak profitability prospects of these banks," the agency said. In a statement, Fitch said that it estimates Indi...
PayPal | January 16, 2020
PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that it processed a record $10.3 billion in donations to charities around the world in 2019, and more than $1 billion in the month of December alone, as mobile and other digital channels continue to change how donors engage with nonprofit organizations. Twenty-one percent of all donations processed by PayPal in 2019 were made through mobile devices. "Our efforts to drive social impact and create value for all of our stakeholders continue ...
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