Business
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.
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.
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 .
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Table of Contents
Business managers, known for their dynamic and demanding roles, are now adopting innovative activity hacks to improve their lifestyle and well-being. Recognizing the importance of work-life balance and personal wellness, these leaders are implementing a range of activities to foster physical health, mental clarity, and overall satisfaction in their professional and personal lives.
Mindfulness at Work lifestyle
Business managers are incorporating mindfulness practices, such as meditation and deep breathing exercises, into their daily routines to reduce stress and increase focus in high-pressure situations.
Regular Exercise Breaks
Amid tight schedules, managers are embracing short exercise breaks, such as brisk walks or stretching exercises, to stay active throughout the day and boost their energy levels.
Nutrition and Healthy Eating
Prioritizing their well-being, managers are adopting healthier eating habits, including nutritious snacks and well-balanced meals, to sustain their energy during demanding workdays.
Time Management Workshops
Business managers are attending time management workshops to enhance their organizational skills, enabling them to efficiently juggle multiple responsibilities and achieve better work-life integration.
Skill Development Seminars
Recognizing the value of continual growth, managers are attending skill development seminars to stay updated on industry trends and enhance their leadership abilities.
Flexible Work Arrangements
Some forward-thinking companies are offering flexible work arrangements to business managers, providing the freedom to create a more harmonious work-life balance.
Social Engagement
Building a sense of camaraderie, managers are engaging in team-building activities and networking events to foster positive relationships within their professional circles.
Unplugging from Technology: In a digital era, managers are prioritizing personal time by unplugging from technology during non-working hours, allowing for genuine relaxation and recharging.
Pursuing Hobbies and Interests
Managers are rediscovering their passions outside of work, be it painting, gardening, or playing a musical instrument, to unwind and find fulfillment beyond their professional roles.
Encouraging Employee Wellness
Some managers are also promoting wellness initiatives within their teams, encouraging their employees to embrace similar activity hacks and lead healthier lives.
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