Rising bad assets are to blame for the dismal results announced by three large PSU banks on Tuesday. Bank of India fared worse. All three banks have recorded a substantial rise in their bad assets from the year-ago period and their earnings are below the consensus estimates of analysts. The villain of the piece obviously is rising bad assets for which they had to set aside money, denting their profits.
B etween July and October , the yield on the most traded year government security - a barometer for domestic interest rates - crashed by over eight percentage points from 13 to 4. The banking community watched this with glee, chased government securities with fat money bags and made huge profits on bond portfolios. That was the first act in the Indian banking sector's turnaround drama. What we are witnessing now is the second act. Rates have started firming up. Since the beginning of , the yield on year gilts has increased by around 1.
The show took place at the office of a tabloid news publication. Darryl Sivad , a humorless African-American man always clad in dark sunglasses; and Stupid Dave Mark Roberts who is mentally challenged. At home, Nora deals with deranged building manager Mr. In the second season, the show switched networks and was retooled. Gone were the outlandishly zany antics from the first season, and Stupid Dave was now merely referred to as Dave.