Connect with us

Business

RBI seeks vacation of SC stay on classification of NPA accounts

Published

on

RBI seeks vacation of SC stay on classification of NPA accounts

The Reserve Bank of India (RBI) has informed the Supreme Court that its order staying the classification of non-performing asset (NPA) accounts will have huge implications for the banking system if it is not lifted immediately.

The central bank also said that the ruling undermines its regulatory mandate.

RBI had, in March, allowed a three-month moratorium on equated monthly instalments (EMIs) of term and other loans that were due between 1 March and 31 May. The moratorium was later extended till 31 August.

Advertisement

The top court, in an interim ruling on 3 September, had ordered a stay on the classification of NPAs—if not declared as such by 31 August—till further orders.

Meanwhile, the Centre has, in response to a batch of petitions, filed an affidavit in the top court ruling out further relief measures under the loan moratorium scheme.

It said a balanced view of the interests of depositors, borrowers, real estate sector entities and banks, in addition to the financial stability and economic growth of the country, has been taken taken into account while deciding its policy.

In response to a plea on waiving interest/interest on interest, the government said such a move will entail significant economic costs that cannot be absorbed by banks without a serious dent in their financials, which, in turn, will have huge implications for depositors and broader financial stability.

Advertisement

The Centre said it had submitted an affidavit on 2 October in which it had informed the top court about its decision to bear the cost of ‘interest on interest’ for MSME loans and personal loans up to ₹2 crore .

Tap To Explore More : Live Mint

Also Read : CORONA UPDATE : INDIA REPORTS 73,272 CASES IN LAST 24 HOURS, TOTAL INFECTIONS NEAR 70 LAKH

Advertisement

Trending

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

Published

on

By

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.

Advertisement

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:

Advertisement
  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

Advertisement

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

Group Media Publications
Entertainment News Platforms – anyflix.in      
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/
Podcast Platforms – https://anyfm.in

Advertisement
Continue Reading
Anyskill-ads

Facebook

Trending