Now, we turn our attention to the bull run in Indian stocks. The real question for Friday's trade is: can the Indian stock market sustain the sharp surge in recent weeks? Or, will profit booking kick in? After breaching multiple milestones this week, Indian shares hit fresh records on Thursday. Benchmark indices set multiple new milestones for the second straight session, surpassing key levels.

Can Sensex & Nifty at new all-time highs surge further?

India's Bank of Baroda has stopped clearing payments for Russian oil sold above the price cap set by the West. This is according to media sources that suggests that the move could expedite the process of paying for Russian oil in Indian rupees.

Indian bank adheres to sanctions on Russia

India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers told Reuters.

Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

"There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said.

A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic.

"These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters.

The official and bankers declined to be named as they were not officially authorized to discuss the matter with media.

India's finance ministry declined to comment, while the RBI and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment.

The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases.

The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus.

India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers told Reuters.

India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers told Reuters. Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019. "There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said. A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic. "These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters. The official and bankers declined to be named as they were not officially authorized to discuss the matter with media. India's finance ministry declined to comment, while the RBI and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment. The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases. The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus. India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

Indian bank bad debt could double after coronavirus crisis: Report

Yes Bank, India’s fifth-largest private sector lender, was placed under a moratorium with the Reserve Bank of India (RBI) taking over from its board for 30 days and imposing limits on withdrawals to protect depositors. The central bank said, was necessary because of a serious deterioration in Yes Bank’s financial position and that it would swiftly work on a revival plan.

Government places Yes Bank placed under moratorium

The Reserve Bank of India’s has decided to put a moratorium on Yes Bank on Thursday for a period of thirty days. Withdrawals by depositors have been restricted, and mutual funds have begun writing off the value of the Yes Bank debt securities they hold. Watch report:

WION Wallet: RBI moves to restructure YES Bank by placing it under moratorium | Yes Bank Moratorium

Shares in Indian private sector lender Bandhan Bank Ltd rose as much as 33 per cent in their trading debut&nbspon Tuesday&nbspafter its $691 million initial public offering.

 
By 0430 GMT, the shares were trading at 461.35 rupees, 23 per cent higher than the IPO issue price of 375 rupees.

 
The IPO, which is the biggest for an Indian bank, had been subscribed nearly 15 times, driven by strong demand from institutional investors.

The IPO, which is the biggest for an Indian bank, had been subscribed nearly 15 times

Shares in Indian private sector lender Bandhan Bank Ltd rose as much as 33 per cent in their trading debut&nbspon Tuesday&nbspafter its $691 million initial public offering. By 0430 GMT, the shares were trading at 461.35 rupees, 23 per cent higher than the IPO issue price of 375 rupees. The IPO, which is the biggest for an Indian bank, had been subscribed nearly 15 times, driven by strong demand from institutional investors.

Bandhan Bank soars in trading debut after $691 million IPO

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