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Tag: prompt

Florida’s attributes prompt surge in women’s tennis stars

Florida’s attributes prompt surge in women’s tennis stars

Sports
MIAMI, March 30 (UPI) -- Florida has long been known as a tennis factory, churning out elite women's players regularly. Many of those stars returned to compete in the ongoing Miami Open, and they credited the state's attributes for their rise to fame. "I always have really fond memories whenever I come back to Florida and play this tournament," Naomi Osaka told reporters last week in a Zoom video conference. Advertisement "I think playing on the public courts with my sister shaped me in the way that I was very tolerant just because we would play for hours on end." Osaka was born in Osaka, Japan, but moved to New York with her family at age 3. She later settled in Pembroke Pines, Fla., and tuned up her world-class game at Evert Tennis Academy in Boca Raton. Chris Evert, brother John and t...
RBI initiates prompt corrective action for Lakshmi Vilas Bank after directors probed for alleged fraud

RBI initiates prompt corrective action for Lakshmi Vilas Bank after directors probed for alleged fraud

Finance
The Reserve Bank has initiated Prompt Corrective Action (PCA) against Lakshmi Vilas Bank (LVB) due to high level of bad loans, lack of sufficient capital to manage risks and negative return on assets for two consecutive years, the private sector lender said on Saturday. The RBI move comes amidst the Delhi Police's Economic Offences Wing registering a complaint against the board of LVB alleging cheating and misappropriation of funds. The regulatory action may cast doubts over the proposed merger of Indiabulls Housing Finance with LVB, which is awaiting RBI nod. The Delhi High Court on Friday agreed to hear a petition alleging Indiabulls gave loans worth crores of rupees to shell companies. In a regulatory filing, LVB said RBI has taken the action "on account of high net NPAs, insufficient C...
China-backed coal projects prompt climate change fears

China-backed coal projects prompt climate change fears

Science
As levels of greenhouse gases reach a new record, concerns are growing about the role of China in global warming.For years, the increase in the number of Chinese coal-fired power stations has been criticised.Now environmental groups say China is also backing dozens of coal projects far beyond its borders. Coal is the most damaging of the fossil fuels because of the quantity of carbon dioxide it releases when it's burned. Last year, the concentration of carbon dioxide in the atmosphere reached its highest level for the past 3-5 million years, according to the latest research by the UN's weather agency, the World Meteorological Organisation (WMO). And last month the UN's climate science panel said that coal must be phased out by 20...
RBI’s prompt corrective action just baby steps before weak banks leap

RBI’s prompt corrective action just baby steps before weak banks leap

Finance
The Mint Street and North Block are in a tug of war on the Prompt Corrective Action (PCA) framework for weak banks. The finance ministry wants to soften the restrictions on banks under PCA. RBI, which imposes them, is resisting it. There could be more to this than meets the eye. “There is an assertion being made in some circles that imposition of the PCA has starved the Indian economy of credit. There is little factual basis for this assertion, either for the overall economy or at sectoral level… There is also a call for more lending by PCA banks to large industries where the overall credit growth remains muted,” Reserve Bank of India deputy governor Viral Acharya said earlier this month. The government was demanding dilution of restrictions, such as prohibition on lendi...
RBI puts Dena Bank under prompt corrective action

RBI puts Dena Bank under prompt corrective action

Finance
NEW DELHI: Reserve Bank has initiated prompt corrective action against public sector lender Dena Bank in view of high non-performing loans, restricting the bank from giving fresh credit and new hiring. The public sector lender yesterday reported widening of its net loss to Rs 1,225.42 crore in the March quarter on mounting bad loans and higher provisioning to cover them. The net loss stood at Rs 575.26 crore in the January-March quarter of 2016-17. Sequentially, the loss widened from Rs 380.07 crore in December quarter of 2017-18. "Reserve Bank of India, vide their letter dated May 31, 2017, has initiated Prompt Corrective Action for Dena Bank and imposed certain restrictions, in view of high Net NPA and negative RoA ( return on assets)," the bank said in a regulatory filing. In continuati...