Friday, November 22
Bank of India has set aside Rs 200 crore after MTNL failed to repay a Rs 1,000 crore loan, impacting the bank's second quarter financial results.MD & CEO Rajneesh Karnatak said that the bank had to make higher provisions because of default on a Rs 1,000 crore loan account to a public sector telecom firm, which is being identified as MTNL, TOI reported. MTNL, a government-owned telecom company, has been struggling financially. This recent default led Bank of India to classify the loan as high-risk, requiring the provision. State Bank of India had previously categorized their loans to MTNL as "sub-standard."Despite the provision, Bank of India reported a net profit of Rs 2,374 crore for Q2FY25, a 63 per cent increase from the same period last year. MTNL reported a loss of Rs 3,303 crore
Bank of India has set aside Rs 200 crore after MTNL failed to repay a Rs 1,000 crore loan, impacting the bank's second quarter financial results.MD & CEO Rajneesh Karnatak said that the bank had to make higher provisions because of default on a Rs 1,000 crore loan account to a public sector telecom firm, which is being identified as MTNL, TOI reported. MTNL, a government-owned telecom company, has been struggling financially. This recent default led Bank of India to classify the loan as high-risk, requiring the provision. State Bank of India had previously categorized their loans to MTNL as "sub-standard."Despite the provision, Bank of India reported a net profit of Rs 2,374 crore for Q2FY25, a 63 per cent increase from the same period last year. MTNL reported a loss of Rs 3,303 crore
Nearly 63% of surveyed Indian consumers opt for innovative and healthy snacking options, and around 50% read the ingredient label to check the nutritional value, as per NielsenIQ’s latest report.“This (healthy snacking) segment is growing 1.2 times faster than traditional snacks in terms of value, presenting opportunities for brands to innovate in health-focused products and leverage the consumption trend,” Sonika Gupta, executive director of customer success at NIQ India said.India’s snack and confectionery industry is ranking second in terms of market size in the APAC region. The sector is driven by the health benefits it brings along, nutritional richness, and natural ingredients in it like dried fruits and antioxidants.The researcher said that emerging brands in the snacking ma
