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Banks’ bad loans may soar to 9.5% by Sept 2022: RBI

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3 years ago

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Banks’ bad loans may soar to 9.5% by Sept 2022: RBI

The Reserve Bank of India predicted on Wednesday that by September next year, the non-performing loans of Indian banks may rise to 9.5% of its total loans.

The central bank pointed out in its biennial financial stability report that if India’s GDP shrinks by 2.1% in the second half of this fiscal year and grows by 1.1% in the first half of the year, this will happen in a “severe stress scenario”. condition. Half of the 2022-’23 fiscal year.

The Reserve Bank of India stated that under the “baseline scenario,” that is, GDP growth in the second half of this fiscal year will be 6.3%, and GDP growth in the next fiscal year will be 12.5%, and non-performing loans may rise to 8.1%.

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The Reserve Bank of India reported that in September this year, non-performing loans accounted for 6.9% of total loans, a record low in six years. However, the central bank pointed out that research in emerging economies shows that non-performing loans usually peak within six to eight quarters after the start of a recession.

The Indian economy has entered a recession phase in the second quarter (July to September) of the last fiscal year (2020-21). When GDP shrinks for two or more consecutive quarters, the economy is considered to be in a technological recession.

Affected by the nationwide coronavirus lockdown, the Indian economy contracted an unprecedented 23.9% in the first quarter of the previous fiscal year (April to June), and contracted by 7.5% in the second quarter.

However, the financial stability report released on Wednesday indicated that the lending solutions of Indian banks have improved. In the last financial stability report released in July, the Reserve Bank of India predicted that even under the “baseline scenario”, non-performing loans could rise to 9.8% by March 2022.

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The Governor of the Reserve Bank of India Shakti Kantadas wrote in the preface of the document: “As highlighted in this issue of the Financial Stability Report, Indian financial institutions remain resilient during the pandemic, and the financial market is generally stable. Policies and regulations Support acts as a buffer.” Released on Wednesday.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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16 hours ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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