Category: Business

Bond issuances by banks to fall below Rs 90,000 cr in FY24: Report

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Bond issuances by banks may fall below Rs 90,000 crore in FY24 due to easing liquidity conditions, rating agency ICRA has said in a report.


Banks issued a record Rs 1.1 trillion bonds in FY23.

“…combined issuances by banks AIFIs touched a high of Rs. 2.0 trillion in FY2023, with gross bond issuances by banks reaching an all-time high of Rs. 1.1 trillion,” the report said.


“However, stronger foreign institutional investor (FII)/foreign portfolio investment (FPI)inflows, as seen recently, in addition to the derecognition of the Rs. 2,000 currency note an anticipated dividend by the Reserve Bank of India (RBI) could ease liquidity conditions in the interim. This could potentially drive down the overall bond issuances below Rs 900 billion from the peak in the previous year,” ICRA said.

The Reserve Bank of India (RBI) started withdrawing the Rs 2000 banknote from circulation in the last week of May, though the note continues to be a legal tender. Liquidity surplus in the banking system, as indicated by the amount of funds parked by banks with RBI, crossed Rs 2 trillion on Tuesday.


Bank credit growth—it was 15 per cent in FY23—could moderate in FY24 though it will continue to outpace deposit growth. Deposits grew by 9.6 per cent in FY23.

The report said Tier-I/Additional Tier-I (AT-I) issuances are expected to trail the FY2022-FY2023 levels (Rs. 300-334 billion), partly due to lower scheduled call options, will largely be dominated by public sector undertaking (PSU) banks.


“Accordingly, outstanding Tier-I bonds are expected to increase slightly to Rs. 1.3 trillion by March 2024 from Rs. 1.2 trillion as of March 2023,” it said.


Tier-II bond issuances are also expected to moderate from the peak level in FY2023 (Rs 49,600 crore), while some banks may still choose to raise infrastructure bonds, though this will largely be limited to a few banks, it said.



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What are the Most Popular Payment Methods in Europe?

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The online casino industry is growing exponentially, it couldn’t be possible without the various virtual payment methods available. Each option has various levels of security, convenience, speed that players would be wise to consider before making a transaction.

As the payment methods differ so much, it’s worth learning about the options that prove most popular among customers. By doing so, you could make a more informed decision the next time you pay for a game of poker, baccarat, or blackjack. Keep reading to learn about the online casino industry’s most popular payment methods in Europe.

Credit Debit Payments

There is no question that credit debit cards are one of the most popular payment options for gambling online, as they are often accepted by most online casino websites for deposits withdrawals. It’s often a first choice for many, as credit debit transactions are often processed within a few minutes.

However, despite offering speedy transactions, security is a top concern when using cards, as credit card fraud is an unfortunate reality. Also, credit card companies often only permit reputable online gambling websites to accept credit or debit card transactions. As a result, credit debit card capabilities can serve as a symbol of trust when playing casino games online.

It is worth bearing in mind that not all countries allow online gamblers to place bets online using credit or debit cards. For instance, many American credit card providers refuse to authorize online gambling transactions, such as Bank of America American Express. As a result, it can set limitations for Americans playing online. Yet, other countries are more liberal about online gambling, as you can make credit card deposits withdrawals freely on this swiss online casino. Other more liberal countries include the UK, Ireland, France.

E-Wallets

E-wallets, also known as digital wallets,  are the go-to payment method for many, as they have the same benefits as credit debit cards but provide increased security faster transactions. Many popular e-wallets are widely available on online casino websites, such as:

  •       Paypal
  •       Apple Pay
  •       Skrill
  •       Neteller

E-wallets are popular payment methods due to their wide acceptance on online casino sites. After all, players will have peace of mind that their financial information is stored on a server not on a gambling site. Also, e-wallets are a more flexible option for players, as some e-wallets allow members to fund their accounts using more than one credit card. As a result, they can easily deposit or withdraw to or from various accounts to help manage their finances.

Yet, e-wallets aren’t without risk, as a hacker could infiltrate a server to steal sensitive data, such as credit card numbers or personal information. Also, players are at risk of forgetting their login credentials, which could stop them from accessing an e-wallet. What’s more, some e-wallets only support a few major currencies, making it harder for those from countries with less popular currencies to make a deposit or withdrawal.

Cryptocurrencies

More online casino websites have adopted cryptocurrencies in recent years, as they provide players with many more benefits over the above payment methods. For instance, many players prefer to make deposits withdrawals using cryptocurrencies as they have lower fees, faster transactions, enhanced security. Also, as they are decentralized, the payment option isn’t subject to the same regulations as the likes of credit debit cards.

Some popular cryptocurrency examples include:

 Bitcoin

  •       Ethereum
  •       Tether
  •       USD Coin
  •       XRP

You can play the likes of poker, blackjack, slots with confidence, as cryptocurrencies are secured by encryption that prevents cybercriminals from stealing sensitive data. However, there are downsides to the payment methods you must consider. For instance, cryptocurrencies operate on blockchain are decentralized, meaning you cannot reverse a transaction. As a result, you are unlikely to recover any funds lost following a hacking incident or cryptocurrency fraud.

The payment method you use when gambling online will likely be determined by various factors, such as the online casino’s accepted payment methods your personal preference. Consider the pros cons of each option to play a game with confidence. 

Interesting Related Article: “What is Responsible Gambling?“



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Monsoon rains over Kerala likely in next 48 hours, says IMD forecast

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The southwest monsoon is expected over the Kerala coast in the next 48 hours, said the India Meteorological Department (IMD) on Wednesday as Indians wait for the annual rains crucial to the economy.


The IMD’s forecast said that the latest meteorological features associated with monsoon onset over Kerala show that there is (a) persistence of westerly winds over south Arabian Sea; (b) increase in the depth of westerly winds up to middle tropospheric levels; (c) increase of Cloudiness over areas covering south east Arabian Sea, Lakshadweep Kerala coasts.  

“Under such a scenario, the conditions are becoming favorable for monsoon onset over Kerala during the next 48 hours,” the IMD said.


The conditions are also favourable for further the monsoon’s advance into some more parts of south Arabian Sea, the entire Lakshadweep area, Maldives Comorin, more parts Southwest central Bay of Bengal, some more parts of northeast Bay of Bengal, some parts of India’s northeastern states.

Skymet, the private weather forecasting agency, had predicted the onset to be around June 9. Skymet meteorologists had predicted it to be around June 7, with an error of three days.


A delayed onset of southwest monsoon could delay the sowing of critical kharif crops, particularly that of paddy.

June rains over most parts of India are expected to be ‘below normal’ during the four-month southwest monsoon season ending in September, according to IMD.


The southwest monsoon normally sets in over Kerala on June 1 with a standard deviation of about seven days.

The IMD had said mid-May the southeast monsoon might arrive in Kerala by June 4. The rains arrived in the southern state on May 29 last year, June 3 in 2021, June 1 in 2020, June 8 in 2019 May 29 in 2018.


India is expected to get normal rainfall during the southwest monsoon season despite the evolving El Nino conditions, the IMD had earlier said.

Northwest India is expected to see normal to below-normal rainfall. East, northeast, central India the southern peninsula are expected to receive normal rainfall at 94-106 per cent of the long-period average of 87 centimeters.


According to the IMD, rainfall between 96 104 percent of a 50-year average of 87 cm is considered ‘normal’. Rainfall less than 90 per cent of the long-period average is considered ‘deficient’, between 90 per cent 95 per cent is ‘below normal’, between 105 percent 110 per cent is ‘above normal’ more than 100 per cent is ‘excess’ precipitation.

Normal rainfall is critical for India’s agricultural landscape, with 52 per cent of the net cultivated area relying on it. It is also crucial for the replenishing of reservoirs critical for drinking water apart from power generation across the country.


Rain-fed agriculture accounts for about 40 per cent of the country’s total food production, making it a crucial contributor to India’s food security economic stability.  



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Centre invites protesting wrestlers for talks on charges against WFI chief

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Days after they met home minister, Amit Shah, the Centre has invited wrestlers protesting against Wrestling Federation of India chief Brij Bhushan Sharan Singh for talks on their issues, sports minister Anurag Thakur said in a late-night tweet.


“The government is willing to have a discussion with the wrestlers on their issues. I have once again invited the wrestlers for the same,” he said in his tweet on Wednesday.

On Saturday, the wrestlers met Shah. Talking to the news agency ANI, Sakshi Malik had said, “We met home minister Amit Shah, it was a normal conversation. We have only one demand, that is to arrest him (Brij Bhushan Singh).”


Following this on Monday, a media report arrived stating that Malik, Vinesh Phogat Bajrang Punia, who have been leading the protest, have resumed their duties in the Railways. When asked if they had withdrawn from the protest, Malik said that the protest would continue nobody was withdrawing.

“We will continue our fight for justice meanwhile I am fulfilling my responsibility in Railways,” she said.


Arrests on May 28 the aftermath

Punia, Malik Phogat have been protesting since the beginning of this year in order to press for the removal arrest of the WFI chief over allegations of sexual harassment.


On May 28, wrestlers had planned a march protest in front of the new Parliament, despite the imposition of Section 144 in the area. They were detained on their way by the Delhi police, an FIR was filed against them under Indian Penal Code (IPC) sections 147, 149, 186, 188, 332, 353, Section 3 of the PDPP Act. The Delhi Police also cleared the protest site.

Following their removal from Jantar Mantar, Wrestlers arrived in Haridwar to immerse their medals in the Ganga. However, they later issue a five-day ultimatum to the Centre to act against the WFI chief following the intervention of farmer leader Naresh Tikait.


The Delhi Police have registered ten complaints two FIRs against WFI chief Brij Bhusan Singh.

The first FIR relates to allegations by a minor has been registered under the Protection of Children from Sexual Offences (POCSO) Act, while the second FIR is related to outraging modesty.


However, The WFI chief has said that he will “hang himself” if even one accusation against him is true.

“I will hang myself even if one allegation against me turns out to be true. I stby my statement..,” said Brij Bhushan to the media in Gonda after the FIRs.


Widespread support for wrestlers

Several bodies political parties have extended their support to the protesting wrestlers. United World Wrestling (UWW) condemned the detention of wrestlers during their march to the new Parliament building. It has demanded action against the WFI chief.


“UWW firmly condemns the treatment detention of the wrestlers. It expresses its disappointment over the lack of results of the investigations so far. UWW urges the relevant authorities to conduct a thorough impartial investigation into the allegations,” the world wrestling body said in a statement.

“For several months, United World Wrestling has followed with great concern the situation in India where wrestlers are protesting over allegations of abuse harassment by the President of the Wrestling Federation of India (WFI). It has taken due note that the WFI President has been put aside at an early stage is currently not in charge,” it added.


Political parties like the Indian National Congress, Trinamool Congress even the home minister of Haryana, a state ruled by a BJP-led coalition, have demanded a fair investigation of the matter.

Khap mahapanchayat for wrestlers


On June 2, a mahapanchayat was organised in Kurukshetra, Haryana. Leaders of several farmer outfits attended it. They threatened to step up the agitation for the arrest of Brij Bhushan Sharan Singh bring the protesting wrestlers again to Delhi’s Jantar Mantar if the government didn’t act within a week.

Bhartiya Kisan Union leader Rakesh Tikait invoked the 2020-21 farmers’ protest that forced the Centre to repeal three laws said farmers would take these children to Delhi’s Jantar Mantar on June 9.


The Delhi Police had earlier said the wrestlers would not be allowed again to protest at Jantar Mantar after the confrontation during the march to the new Parliament building.

Earlier, farmers outfits had also held a khap mahapanchayat in Muzaffarnagar in Uttar Pradesh.


The BKU leader also announced a big panchayat at Shamli in Uttar Pradesh on June 11 if Singh is not arrested more meetings from June 15 to 18 in Haridwar.

“If nothing happens even then, panchayats will continue across the country,” he said.


Hours before the khap mahapanchayat, sports minister Thakur said everyone wants justice for the wrestlers, but only after the due process of law.

On June 4, at an event in Sonipat, Punia said that the wrestlers would organise a khap mahapanchayat of their own soon.


“We will hold one Mahapanchayat will give a call for that. We will decide on the venue. We want to bring everyone together for that Panchayat, we don’t want us to be divided,” he said.

He said their battle was not for any particular caste but for honour respect. “If we remain divided, we cannot win.”


Reports have also claimed that the charges of POCSO have been withdrawn from the FIRs, but the wrestlers have given no such confirmation.


(With agency inputs)



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