Author: Latif Lalita

India’s central bank on Friday released, opens new tab a set of criteria that small lenders need to achieve, including performance metrics and market listing, to become a universal bank and provide comprehensive services to both retail and corporate clients. The criteria include a five-year track record of satisfactory performance, a net worth of 10 billion rupees, meeting capital requirements, recent profitability and limited non-performing assets, the Reserve Bank of India (RBI) said. Existing promoters can continue without new additions and approved shareholding plans will remain unchanged, while diversified loan portfolios are favoured, the central bank said. Small finance banks face limitations…

The country’s most important archaeological find has been compared to Machu Picchu. Here’s how to see it At first glance, it doesn’t look like much, just a rectangular meadow in the Pamir foothills of central Tajikistan. But there was a time when this ground reverberated with the thunder of hooves. Occupying a broad saddle, high above the mighty Panj River, this meadow is believed to be an ancient arena for the Central Asian sport of buzkashi, or dead goat polo. The playing field was a centerpiece of a once sprawling settlement, a political and religious capital inhabited for centuries but since lost to…

Explanations beginning to emerge after worst terror attack in Israel’s history They might as well have been sitting ducks. They are the tatzpitaniyot, mostly female soldiers stationed on the IDF bases near the Gaza Strip, their eyes glued to security cameras and other feeds of the border. Last Saturday morning, the Hamas terrorists who entered some of those bases with hang gliders shot at cameras and jammed some communications systems. They shot at the combat soldiers who were stationed at those bases, as well as at the tatzpitaniyot. “Yes, they surprised us, and we weren’t ready for it,” said a female soldier…

A young theatre group from the city will perform a forgotten art form of Urdu storytelling that sheds light on the life and times of Amir Khusrau For years, contemporary poets, musicians and theatre makers have taken inspiration from the works of Amir Khusrau to produce renditions and tributes to the Sufi scholar and poet. Many even consider him a guiding force in their artistic endeavours. Jo Dooba So Paar, a dastangoi (an ancient Urdu storytelling art form) produced by actor and author Manav Kaul delves deeper into the life of Khusrau to explore the influence of his guru, Nizamuddin…

COLOMBO (News 1st); Sri Lanka has made significant progress in its debt restructuring efforts, reaching agreements with domestic and foreign creditors to reduce the country’s unsustainable debt burden. In July 2023, Sri Lanka completed the restructuring of its domestic debt. The restructuring involved extending the maturities of domestic bonds and reducing interest rates. This was an important step in reducing the government’s debt service payments and improving its fiscal position. Sri Lanka has also made progress in restructuring its external debt, which amounted to around 61% of GDP in 2022. The government has reached agreements with the Paris Club of…

Copenhagen (14/11 – 40) The massive mobilization and sustained pressure jolted the Sri Lankan presidency of the previously all-powerful Gotabaya Rajapaksa, prompted mass resignations from the government at the time, and solidified existing spaces and created new spaces for dissent and discussions on much-needed reforms. Sri Lanka is facing an exceptional political and economic crisis that has sparked months-long protests across the country. The new leadership under President Ranil Wickremesinghe struggles with the economic situation and seemingly failed to uphold basic human rights and pursue accountability for grave crimes towards the people of Sri Lanka. Despite troubling trends of authoritarianism,…

PPF, the leading Czech private financial group, is refocusing on Southeast Europe as part of its shift out of Eurasia, according to Jan Ruzicka, its chief external affairs officer. PPF is in the process of selling or scaling down its once sizeable consumer credit operations in Russia, China and Southeast Asia, and has been investing in the US and Europe as part of a drive to reduce risks and stabilise returns for its owners, the family of the late PPF founder, Petr Kellner. “PPF is moving west [for] practical, strategic and even geopolitical reasons,” Ruzicka told bne IntelliNews in an interview at the…

Rio Tinto’s Serbian subsidiary Rio Sava has filed nine lawsuits against the country’s government in connection with the abolishment of its Jadar project. News of a legal dispute between Rio Tinto and the state of Serbia is a new twist regarding the company’s lithium mining and processing project. Serbia halted it in January 2022, but environmental activists and residents of the Jadar area believe that both Rio Tinto and Serbia’s authorities have not given up on the investment. Information about the lawsuits emerged two weeks after a media report that Serbia and the European Commission signed a letter of intent in September to initiate a strategic…

Spread across 2,300 square feet, their flagship store in Bandra offers about 150 freshly made hand-baked desserts across categories like cupcakes, brownies, cheesecakes, tres leches, eggless ice creams, and their famous banana pudding People with a sweet tooth, here’s some exciting news. Four years after their entry in India with a store in Bengaluru, New York’s famed Magnolia Bakery — Yes, the one that saw Carrie (Sarah Jessica Parker) talking to Miranda (Cynthia Nixon) about her new crush Aidan while they eat cupcakes with pink frosting in an episode of Sex and The City — has finally come to Mumbai.…

Despite locally and internationally expressed concerns for the future of media freedom in the entity, the Bosnian Serb assembly on Thursday adopted law changes criminalising defamation. The National Assembly of Bosnia’s Serb-dominated Republika Srpska entity, one of two in Bosnia, adopted amendments to the criminal code making defamation a criminal act. The much-criticised amendments, which were pushed by the President of the entity, Milorad Dodik, were supported with 47 votes out of 63 present members of the assembly. With the new changes, defamation will become a criminal act punishable with up to 3,000 Bosnian marks, or some 1,500 euros. “We…