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India’s banking system to be among last to recover

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India’s banking system to be among last to recover

India’s banking system will be among the last in the world to recover from disruptions caused by the covid-19 pandemic, a report by rating agency S&P has pointed out.

“For India, Mexico and South Africa, a recovery to pre-covid-19 levels may not arrive until after 2023,” the report said on 23 September. “We have taken negative rating actions on Indian banks and non-banking financial institutions (NBFIs) as operating conditions have deteriorated through the crisis. The country entered the pandemic with an overhang of high nonperforming assets.”

Private sector and state-run banks had an aggregate bad loan burden of ₹8.42 trillion as on 30 June, showed data from Capitaline.

According to the report titled “Global banking: recovery will stretch to 2023 and beyond”, recovery of banking jurisdictions will be slow, uncertain, and highly variable across sectors and geographies. Many prominent banking systems may not recover until 2023, including the US, UK, France, Germany, Spain, Italy, Japan, Australia, Brazil, Indonesia, and Russia.

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The impact of the pandemic and an ensuing lockdown in March, left millions without jobs in India as the economy came to a near-grinding halt. However, the growth of infections continues unabated even as the economy is gradually reopening. S&P said as on 21 September, covid-19 infections in China were under 100,000 and was much lower than Brazil (4.5 million), India (5.4 million), and Russia (1.1 million), citing Johns Hopkins Coronavirus Research Center.

Tap To Explore More : Business Standard

Also Read : India Ratings Maintains Negative Outlook On NBFCs, Housing Finance Companies For Second Half Of FY21

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.

The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.

Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.

With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.

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The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.

Weather and AQI predictions in Delhi for next 7 days:

DateTemperatureSky
October 23, 202432.93 °CSky is clear
October 24, 202432.69 °CSky is clear
October 25, 202432.5 °CSky is clear
October 26, 202432.07 °CSky is clear
October 27, 202430.69 °CSky is clear
October 28, 202431.29 °CSky is clear
October 29, 202432.09 °CSky is clear

Weather in other cities on October 22, 2024

CityTemperatureSky
Mumbai28.35 °CLight rain
Kolkata28.84 °CSky is clear
Chennai28.94 °CLight rain
Bengaluru25.53 °CModerate rain
Hyderabad27.75 °CModerate rain
Ahmedabad31.9 °CSky is clear
Delhi32.93 °CSky is clear

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