Net interest income,or the income a bank earns by giving loans, rose 20% year on year to Rs 3284.46 crore. Other income jumped nearly 94% year on year to Rs 919.16 crore from Rs 474.26 crore.

LKP Research is bullish on Central Bank of India has recommended buy rating on the stock with a target price of Rs 37 in its research report dated December 07, 2022.

An official said the bank’s growth was good and it had the cushion to write off these advances.

A legal battle may last years. Meanwhile, employees are likely to face a temporary setback and job losses

Central Bank of India was the only bank under the RBI's PCA framework. It was put under the PCA framework in June 2017 due to its high net non-performing assets (NPAs) and low Return on Assets.

Last week, the Bank of India had filed a petition before the National Company Law Tribunal to initiate insolvency proceedings against debt-ridden Future Lifestyle

CMS exceeded the target in FY22 with a 22 per cent jump in its top line despite facing headwinds in the first quarter, its executive vice chairman and chief executive Rajiv Kaul told PTI.

The nations forex reserves stood at $598 billion, latest data showed. While that is down 7% from a record high of over $640 billion in September due to a mix of intervention and valuation changes, it still fares well on key metrics, including import coverage and short-term debt obligation, according to DBS Bank Ltd.s senior economist, Radhika Rao.

Amid choppy trade, both Nifty and Sensex swung between gains and losses to finally settled in the red, with the 30-share pack falling 106 points to 54,365. NSE barometer Nifty, meanwhile, settled below the 16,250 mark.

The pan-European STOXX 600 index rose 1.2%, with most sectors barring defensive healthcare stocks gaining.

“Valuations are quite reasonable for financials and ‘value stocks,” Kotak Institutional Equities said.

Microsoft's market capitalisation is now below $2 trillion as of Monday, for the first time since June 2021, as the stock is down 21% this year. Amazon's stock has fallen by more than 40% since its high in 2021.

“When the rupee depreciates, given the fact that we still import large volume of oil, that will impact oil price and directly as well as indirectly – through transport – we are going to see the impact of that on inflation. It is never good news because inflation will start hitting not just our export competitiveness but also our growth potential. So sharply depreciating rupee is not good news at all,” says Mythili Bhusnurmath.

Though a bear market is not a foregone conclusion, signs of souring sentiment are everywhere as the Fed tightens monetary policy to fight the worst inflation in nearly four decades.

Gold prices firmed on Tuesday as a decline in U.S. Treasury yields offset pressure on greenback-priced bullion from sustained strength in the dollar. Spot gold was up about 0.1% at $1,854.91 per ounce, as of 0055 GMT. U.S. gold futures were down 0.2% at $1,854.10.

The rupee plunged to a record low Monday, tracking peers in the region, as concerns mount over widening deficits in a large oil importer such as India where the goal of ensuring export competitiveness could determine the extent of central bank intervention in the currency markets.

The dollar has risen for five straight weeks as U.S. Treasury yields have climbed on expectations the Fed will be aggressive in attempting to tamp down inflation.

To be sure, the rupee may have fallen to record lows, but the currency still remains a relative outperformer among Asian emerging market peers, especially when compared with China. The Yuan has fallen 5.52% this year. The rupee lost more than 4% to the dollar this calendar year, ranking sixth among Asian peers.

"We decided to act on this complaint given the severity of the situation and found out that there were frauds in 37 accounts worth 39 million rupees ($504,149.54). We have made provisions of an equal amount," said the source, who declined to be named as the discussions were private.

Official from the White House stated that President Joe Biden would deliver his remarks on what he thinks about inflation on Tuesday. The Biden administration wants to address this economic concern ahead of the November elections.

"The discussion with the RBI (Reserve Bank of India) is at an advanced stage as current yields are not at comfortable levels," the government official, with direct knowledge of the matter, said on condition of anonymity. The official said government expects the RBI to conduct a switch operation, offering investors a chance to exchange their short-dated bonds for debt with a longer maturity, or to buy back government bonds within the next two weeks.

After hitting a peak of Rs 53,600 on April 18, the yellow metal has dropped about Rs 2,000 per 10 grams in the domestic market. However, gold has not managed to hold the Rs 51,000 mark so far.

The Reserve Bank of India sees its foreign-currency reserves of about $600 billion as a formidable stockpile that it will put to use against speculators, the person said, asking not to be identified as the deliberations arent public. The RBI is seeking an orderly depreciation, the person said.

Michael Howell, managing director at consultancy Crossborder Capital, noted that U.S. equity declines have tracked a 14% drop in effective liquidity provision by the Fed since December.

The lender improved on its asset quality and brought down the gross non-performing assets (NPAs) to 14.84 per cent of the gross advances at the end of March 2022, as against 16.55 per cent in the year-ago period.

The bank is looking to reduce the number of branches by 600 by either shutting down or merging loss-making branches by the end of March 2023, according to the copy of a document reviewed by Reuters.

So, what changed? A congeries of thoughts linked to the economy as well as political economy could have prodded him to take the plunge. Das probably sensed that the time to take tough actions was fast running out. Someone who knows the minds of politicians and understands their priorities, Das may have realised that the next 10 months is the only window he has to tighten rates and impact the markets before the general elections of 2024.

Spot gold was down 0.1% at $1,865.31 per ounce, as of 0040 GMT. U.S. gold futures fell 0.2% to $1,866.10.

A rise was widely expected after official data released last week showed that Australia's inflation rose to 5.1% in the year through March. It is the highest annual rate since 2001, when a newly introduced 10% federal consumption tax created a temporary spike.

The RRA had recommended the withdrawal of 150 circulars in the first tranche of recommendations in November 2021 and 100 circulars in the second tranche of recommendations in February 2022.

The urban unemployment rate rose to 9.22% in April from 8.28% the previous month, while the rural unemployment rate slipped to 7.18% from 7.29%, the data showed.

Providing a snapshot of how key macro-economic variables may play out in coming months, Nomura predicts higher inflation, higher terminal rates and fiscal risks on the horizon.

At the interbank forex market, the rupee opened at 76.60 against the greenback and moved in a range of 76.43 to 76.71 in the day trade. It finally closed at 76.53, registering a rise of just 4 paise over its previous close of 76.57.

The continent-wide STOXX 600 rose 0.6% after plunging nearly 2% on Monday on worries of an economic slowdown in China and rapid U.S. interest rate hikes.

China accounts for about 12% of global trade and Covid restrictions have idled factories and warehouses, slowed truck deliveries and exacerbated container logjams. U.S. and European ports are already swamped, leaving them vulnerable to additional shocks.

Commercial papers (CPs) are shorter duration debt instruments generally issued by companies with maturities up to one year. One basis point is 0.01 percentage point.

"It is entirely possible that the dollar overshoots on the high side, revisiting levels we saw eight-nine years ago, but we think we are getting pretty close to a tipping point," said Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.

Crypto-asset service providers that deliver critical functions should be licensed or authorised. These would include storage, transfer, settlement and custody of reserves and assets, among others, similar to existing rules for financial service providers....

In a notice to the stock exchanges IDBI Trusteeship has called for a meeting of debenture holders of RHFL on May 13. Lenders to RHFL led by Bank of Baroda (BoB) and Yes Bank had already approved Authums plan in June last year but bond holders constitute 41% of the debt.

At the same time, he favoured stabilising the krone at its current value rather than its pre-war parity. These measures would bolster the confidence of foreign investors, on whom Schumpeter pinned his hopes...

Besides, the regulator said NBFCs should not grant loans and advances totalling Rs 5 crore and above to their own directors, including the chairman and managing director or their relatives and other related entities.

​​At the interbank foreign exchange market, the rupee opened at 76.34 against the American currency and settled at 76.51, down 22 paise from the previous close.

Regression analysis suggests that surplus liquidity has a sobering impact while greater uncertainty hardens the forward premia, more so in the short term, according to a study titled "What Drives the Forward Premia – An Analytical Perspective" published in its latest monthly bulletin.

The Zhengzhou Airport Economic Zone, a central Chinese manufacturing area that includes Apple Inc supplier Foxconn, announced a 14-day lockdown on Friday "to be adjusted according to the epidemic situation".

CHINA-ECONOMY/GDP (POLL)POLL-China's GDP growth seen slowing to 5.0% in 2022 on COVID hit