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The US-based agency said India’s robust economic growth should support borrowers’ creditworthiness and Axis Bank’s weak loans, or nonperforming loans, could decline to 2.5-3 per cent of total loans by end-March 2023, from 3.7 per cent as of March 31, 2022.",
Bank stocks today witnessed heavy selling and settled with losses of up to 6 per cent as RBI indicated worsening of NPA situation.",
Late on Monday, Bloomberg Index Services proposed including eligible Indian bonds in its emerging market local currency index from September."
The company had posted a consolidated profit after tax from continuing and discontinued operations of Rs 170.69 crore in the same period of the last fiscal, M&M said in a regulatory filing."
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Skullcandy has announced the launch of its wireless earbuds in India, called Vert at a price of Rs 4,999. These are built for adventure enthusiasts with sport-specific features and the company claims they can also handle heat, dirt and anything else. The wireless earbuds are geared towards cyclists, hikers."
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NASA’s James Webb Space Telescope has been damaged after the space telescope was hit earlier this year by at least 19 small space rocks, also called micrometeoroids. One of the rocks has reportedly left noticeable damage on one of the telescopes’ 18 gold-plated mirrors. The impact reportedly took place between May 23 and May 25 this year, and caused “uncorrectable” damage in a small part of the space telescope. NASA researchers have now shared the first images that show the damage caused by the collision in a research paper posted on arXiv.org."
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Manoranjan Mishra, a chief general manager at the department of non-banking regulation at RBI, said there is a growing interest in the asset reconstruction companies (ARCs) and the central bank has received several applications for setting up new ARCs. “For ARCs, sponsors have to be ‘fit and proper’. The criterion for fit and proper is something that we are working on and we’ll come out with some regulations around it. It will be more formalization of what we already have,” Mishra said at an NBCF meet organized by industry lobby IMC."
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>On Wednesday, the rupee for the first time settled below the 80-level against the US currency due to strong dollar demand from importers and fiscal slippage concerns."
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