India Hot Topics
RBI directs Lakshmi Vilas Bank to write off tier-2 bonds worth nearly ₹320 crore
A day ahead of its merger with the Indian arm of Singapore-based DBS Bank, the debt-ridden Lakshmi Vilas Bank (LVB) on Thursday has written off bonds worth Rs 318.20 crore as per the existing provisions. As per the effective date of merger notified by the Reserve Bank of India (RBI) on Wednesday, LVB will lose its identity on Friday as it amalgamates with DBS Bank India Ltd.
The RBI, vide their letter on Thursday, has advised the need to fully write down the Series VIII, Series IX and Series X Basel-III complaint tier-2 bonds before the amalgamation comes into effect from the appointed date (November 27), LVB said in one of its last communications to stock exchanges.
“If the relevant authorities decide to reconstitute the bank or amalgamate the bank with any other bank under the Section 45 of the Banking Regulation Act, such a bank shall be deemed as non-viable and both the pre-specified trigger and the trigger at the point of the point of non-viability for write-down of bonds shall be activated.
With non-performing assets (NPAs) soaring, the bank was put under the prompt corrective action framework of the Reserve Bank of India (RBI) in September 2019.
LVB is the second private sector bank after Yes Bank that has run into rough weather this year.
In March, capital-starved Yes Bank was placed under a moratorium. The government rescued Yes Bank by asking State Bank of India (SBI) to infuse Rs 7,250 crore and take 45 per cent stake in the lender.
Tap To Explore More : Economic Times
Also Read : RELIANCE JIO LAUNCHES 27-DAY LONG CLASH ROYALE TOURNAMENT
Haryana
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.
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:
Date Temperature Sky October 23, 2024 32.93 °C Sky is clear October 24, 2024 32.69 °C Sky is clear October 25, 2024 32.5 °C Sky is clear October 26, 2024 32.07 °C Sky is clear October 27, 2024 30.69 °C Sky is clear October 28, 2024 31.29 °C Sky is clear October 29, 2024 32.09 °C Sky is clear
Weather in other cities on October 22, 2024
Group Media Publications
Entertainment News Platforms – anyflix.in
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/
-
Politics3 weeks ago
New BJP government to take oath in Haryana on Oct 17, PM Modi to attend
-
india3 weeks ago
‘My support will be with new J&K govt’: L-G Manoj Sinha ahead of Omar Abdullah’s oath-taking ceremony
-
Sports2 weeks ago
Score for the third day of the first test between India and New Zealand: Ravindra-Southee crushes IND, NZ leads by 299 at lunch
-
TV2 weeks ago
Prince Narula and Yuvika Chaudhary share first pic with newborn daughter from hospital. See post
-
Entertainment.3 weeks ago
Massive data breach at Game Freak studios reveals shocking new dark Pokemon movie plot
-
india4 weeks ago
Navratri special | Puja pandals in Lucknow ready to welcome Maa Durga
-
spotlight4 weeks ago
BCCI avoided a costly Umran Malik mistake by using Mayank Yadav as pacer peppers speedguns on debut.
-
Business3 weeks ago
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise