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News digest: India's banking system, core sector growth, CEO poll, and more

From India's banking system to the biggest billionaire of 2018, BS brings you top stories to keep up with the latest news

BS Web Team 

News digest: India's banking system, core sector growth, CEO poll, and more

Fractured mandate is biggest risk, say CEOs

A fractured mandate from voters in the national elections next year will be the biggest risk for India Inc, according to most chief executive officers (CEOs). Of the 40 CEOs polled from across the country, 60 per cent identified this as a bigger risk than trade wars, volatile oil prices, and inflation.

Political risks notwithstanding, 75 per cent of the CEOs polled said they would invest more in 2019. Capacity utilisation of the manufacturing sector crossed the 76.1 per cent mark in September 2018. Read more here

Banking system getting back to health: RBI

The bad assets problem of the banking sector in the country is receding for the first time since 2015, according to the bi-annual financial stability report (FSR) for December, published by the Reserve Bank of India (RBI) on Monday. But, the non-performing assets (NPAs) are still too high for comfort.

The banks showed an overall improvement with their gross (GNPA) ratio declining from 11.5 per cent in March 2018 to 10.8 per cent in September 2018. However, stress was still on the rise in mining, food processing, and the construction sectors. Click here to know more

drops to 16-month low of 3.5% in November

The growth rate in the eight core sectors of the economy fell to a 16-month low of 3.5 per cent in November, after it hit a three-month high of 4.8 per cent in October.

Economists blamed an unfavourable base effect, along with a sudden slowdown in the growth rate of cement production and electricity output for bringing down the overall growth of the core sectors. Contributing 40 per cent to industrial production, the output of the core sectors has increasingly focused on cement production. Read more here

RCom, Jio extend validity of asset sale agreement

Communications and Jio Infocomm on Monday said they had extended the validity of the asset-sale agreement to June 28.

The move comes at a time when RCom’s spectrum deal with RJio is hung as the telecom department has refused to clear the deal over non-payment of dues by RCom. Click here to know more

From Bezos to Zuckerberg: World's billionaire winners and losers of 2018

The markets may be tanking, but that hasn't stopped plenty of mega-fortunes from being unearthed in 2018.

The popularity of Fortnite, the phenomenon that forced some into video-game rehab, gave gamemaker Tim Sweeney a $7.2 billion fortune this year. Autry Stephens has $11.4 billion after his closely held Endeavour Energy Resources LP attracted bids that valued the oil company at as much as $15 billion. Read more here

First Published: Tue, January 01 2019. 01:25 IST