Top Headlines: Climate tariff walls, coffee diplomacy at G20 and more

Business Standard brings you the top headlines at this hour

Union Finance Minister cautioned Indian industry of impending cost to sectors from tariff walls being raised by developed economies and sought suggestions. The second quarter results of banks show that net profits for the industry increased 57 per cent annually. Read more on these in our morning brief of top headlines. 

Brace for climate tariff walls, FM Nirmala Sitharaman cautions India Inc

Union Finance Minister Nirmala Sitharaman on Friday cautioned Indian industry of impending cost to sectors such as steel from tariff walls being raised by developed economies and sought suggestions how the government could help in the green transition of such sectors. Read More

Coffee diplomacy at G20: Karnataka begins planning for mega track in 2023

Just as the G20 meeting of finance and central bank deputies (FCBD) from the world’s largest economies wrapped up on the outskirts of Bengaluru, planning has begun for a mega track in 2023. Late February, the first meeting of finance ministers and central bank governors, under India’s G20 presidency, will be held at the same venue—a sprawling resort some distance away from Bengaluru. Read More
 

RBI's forex reserves rise for fifth straight week to $564.07 billion

The Reserve Bank of India’s (RBI's) foreign exchange reserves rose by $2.9 billion to $564.07 billion in the week ended December 9. This is the fifth consecutive week of an increase in the central bank’s coffers. Read more
 

Digital lenders seek cap on default loss guarantee models from RBI

At a meeting with the Reserve Bank of India (RBI) governor earlier this week, Digital Lenders Association of India (DLAI) – the industry association for digital lenders – raised the issue of first loss default guarantee (FLDG). Read More

Risky lending: Share of subprime borrowers higher at PSBs, shows data

The second quarter results of banks show that net profits for the industry increased 57 per cent annually. The private sector banks recorded a 64 per cent rise in profits, whereas the net profits of public sector banks jumped 50 per cent in this period. Read More