'Bad bank' idea finds more takers amid pandemic blues


© Ophelio Roel Almeida
‘Bad bank’ idea finds more takers amid pandemic blues

The idea of creating a ‘bad bank’, a single entity which will house all bad loans in the banking system, is back on the discussion table. Two former central bankers, Raghuram Rajan and Viral Acharya and former State Bank of India (SBI) Chairman, Rajnish Kumar, have strongly supported the idea.

Days after a jointly-authored paper by Rajan and Acharya pitched the bad bank idea, outgoing SBI Chairman too said this is the best time to create a bad bank.

“In my view, this is the best time to create a bad bank,” said Kumar in an exclusive interview to Moneycontrol on Wednesday.

A ‘bad bank’ is a bank set up to buy the bad loans and other illiquid holdings of another financial institution. Once toxic assets are transferred to this entity, attempts for an early resolution by

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Nike appears to have recovered from its pandemic slump, posting a solid quarterly profit driven by soaring online sales of its sneakers and workout apparel

NEW YORK — Nike appears to have recovered from its pandemic slump, posting a solid quarterly profit driven by soaring online sales of its sneakers and workout apparel.

The world’s largest sports apparel maker on Tuesday reported a net profit of $1.5 billion profit, or 95 cents per share, in the three-month period ending Aug. 31, up 11% from the same 2019 quarter.

That was well ahead of Wall Street analysts’ expectations of 47 cents a share, according to FactSet. Nike’s stock surged 13% in after-hours trading following the release of the results.

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Beating Covid-19 chills, BITS Pilani has attracted higher pre-placement offers and summer internships for 2021.

MNCs Microsoft, Walmart, Amazon, Goldman Sachs, Oracle, Adobe and large Indian corporates—Hindustan Unilever, Flipkart etc. have grabbed top Engineering students with packages as high as ₹45 lakh per annum. The average package offered was approximately ₹26 lakh.

“With a growth of 22.74 per cent over 2020, BITS (Birla Institute of Technology And Sciences) has not just overcome the Covid-19 induced slowdown, but has come out with flying colours in the subdued job and placement market so far,” G.Balasubramanian, Chief Placement Officer, BITS Pilani (India and Dubai), said in a statement.

“Compared to the 211 offers received in 2020, this year, i.e. 2021 BITS has already received 259 offers and is still counting. Given the present trend, the Institute expects to post a strong end of season growth of 28 per cent compared to last year.

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