RBI’s stress test shows banks are on thin ice as virus may affect capital

Indian lenders had brought down dodgy loans from 11.6% in FY18 to just 8.5% of their book in FY20. It seems that was just a number on the sand, and all it took was a wave of the pandemic to wipe off this minor victory.

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Govt imposes curbs on public procurement from certain countries bordering India

The Ministry of Finance today amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters that directly or indirectly relate to the national security of the country, said and official release.

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Gold to hit record high in ‘only a matter of time’, says Citigroup; this is why prices are rising

Bullish factors building in the gold market are set to see prices take out the record set in 2011, according to Citigroup Inc. The metal is benefiting from loose monetary policy, low real yields, record inflows into exchange-traded funds and increased asset allocation, the bank’s analysts including Ed Morse wrote in a report. Gold is expected to climb to an all-time high in the next six-to-nine months, and there’s a 30% probability it’ll top $2,000 an ounce in the next three-to-five months.

Read moreGold to hit record high in ‘only a matter of time’, says Citigroup; this is why prices are rising

India issues notice to Twitter after recent hacking targeting users like Barack Obama, Jeff Bezos, Bill Gates

India’s cybersecurity nodal agency CERT-In has issued a notice to Twitter asking the micro-blogging platform for full details of a recent global hacking incident targeting high-profile users, as it sought information on the number of Indian users affected, as well as impact on data, a source said. The source privy to the development told PTI that CERT-In has also asked Twitter for information on number of users from India who have visited the malicious tweets and links, and whether the affected users have been informed by the platform about unauthorised access to their Twitter accounts.

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Google to Delhi HC: Can’t publicly disclose details of designated officers in India

US-based Google LLC has told the Delhi High Court that names and identities of its designated officers in India cannot be disclosed publicly as they have been appointed to coordinate with government authorities with regard to removal of illegal content as per law or disclosure of user information. Google said that disclosing names and identity of the designated officers would defeat the purpose of appointing them as they would be “distracted and encumbered” by pubic dealing which in turn would “diminish” their ability to timely and effectively respond to urgent government requests.

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