Top headlines of the day: SBI bad loan divergence, Citizenship Bill & more

From RBI report on SBI under-reporting bad loans by Rs 11,932 cr in FY19 to Gold's impressive performance in 2019, Business Standard brings the top headlines of the day

1) SBI under-reported bad loans by Rs 11,932 crore in FY19: RBI report

Public sector lender State Bank of India (SBI) under-reported its non-performing assets for the fiscal year FY19, a risk-assessment report of the Reserve Bank of India has found. In a regulatory filing on Tuesday, the bank said it had under-reported its bad debts by Rs 11,932 crore. Read here

2) Tata Motors global sales down 15% in Nov; Jaguar-Land Rover posts 2.4% fall

Tata Motors on Tuesday reported a 15 per cent decline in group's global sales at 89,671 units in November. The group had sold 1,04,964 units in the same month last year. Jaguar Land Rover registered global wholesales of 48,105 units in November as against 49,312 units in the year-ago month, a decline of 2.44 per cent. Read here

 

3) Gold's impressive performance in 2019 may spill into the new decade

Gold’s impressive advance in 2019 -- aided by trade war frictions, easier monetary policy across the world’s leading economies and sustained central-bank buying -- may spill into the new decade.

As 2020 looms, BlackRock Inc., the world’s largest money manager, remains constructive on bullion as a hedge, while Goldman Sachs Group Inc. and UBS Group AG see prices climbing to $1,600 an ounce -- a level last seen in 2013. Read here

 

4) Guided by biases, no locus standi: MEA on USCIRF's Citizenship Bill remark

Asserting that a US federal commission's critical comments on the Citizenship Amendment Bill are not accurate, India on Tuesday said the American body on international religious freedom has chosen to be guided only by its biases on a matter on which it has no locus standi.

The US Commission on International Religious Freedom's statement on the bill is neither accurate nor warranted, Ministry of External Affairs Spokesperson Raveesh Kumar said. Read here 

5) Amazon, Flipkart planning to help SMEs go digital and grow their businesses

American rivals Walmart and Amazon are finally walking the common line, at least while dealing with small traders and corner stores in India. Having faced the heat from domestic trader lobbies, Amazon and Walmart-owned Flipkart on Monday organised two separate events to spread the word that they would help small and medium enterprises go up the tech ladder and grow their business. Read here