Top headlines: PM Modi’s mother passes away, bank’s NPA ratio at 10-yr low

PM Narendra Modi’s mother Heeraben passes away at the age of 100

Prime Minister Narendra Modi’s mother Heeraben Modi passed away at the age of 100 years on Friday after being briefly admitted to a hospital in Ahmedabad.

Informing about her demise, the Prime Minister posted a heartfelt tweet saying, “A glorious century rests at the feet of God… In Maa, I have always felt that trinity, which contains the journey of an ascetic, the symbol of a selfless Karmayogi and a life committed to values.” Read more

King Pele passes away at 82: A look at the legendary footballer’s career

Edson Arantes do Nascimento, Pelé, the legendary Brazil footballer, who immortalised dribbling and goal-scoring breathed his last on Thursday, December 29, after a long battle with cancer. He as 82.

Known as one of the best football players to have ever played the game, the legend scored 77 goals for his national team. He led the ‘Men in Green and Yellow’ to three World Cup victories in 1958, 1962, and 1970. In 1966, Pele’s Brazil couldn’t even get past the group stage, losing to Portugal and Hungary and finishing third on the points table in Group 3. Read more

Banks’ net NPA ratio at 10-yr low, GNPAs continue downward journey: RBI

The rise in profitability that aided banks to improve their provisions has resulted in net non-performing assets (NPAs) to net advances ratio falling to 1.3 per cent in September 2022 – the lowest in 10 years — the Reserve Bank of India’s (RBI’s) Financial Stability Report said.

Net NPAs were at similar levels back in March 2012. As of end-September, net NPAs of private banks had fallen to 0.8 per cent, as against 1.8 per cent for public sector banks (PSBs). Read more

Indian economy resilient amid global shocks: RBI Governor Shaktikanta Das

Amid global uncertainties and shocks, the Indian economy is resilient with financial stability maintained with a well-capitalised banking sector, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday.

“The international economic order stands challenged; financial markets are in turmoil due to monetary tightening in most parts of the world; food and energy supplies and prices are under strain; debt distress is staring at many emerging market and developing economies; and every economy is grappling with multiple challenges,” Das said in the Foreword to the Financial Stability Report of the RBI. “Amid such global shocks and challenges, the Indian economy presents a picture of resilience,” he said. Read more

BSNL aims to introduce 4G network in 45,180 villages across India

In its plans to begin 4G services early 2023 onwards, Bharat Sanchar Nigam Limited (BSNL) has decided to prioritise tower installations in 45,180 villages across India that are yet to be connected with the fourth generation network.

The state-owned telecom service provider (TSP) will focus on unserved areas to give it a toehold in the competitive market currently dominated by the three private sector TSPs — Reliance Jio, Bharti Airtel and Vodafone Idea. Read more