Tuesday, August 16, 2022
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Top headlines: RBL posts profit in Q1; Murmu ahead of Sinha in Prez poll

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RBL Bank posts net profit of Rs 201 cr in Q1, asset quality improves



Private lender RBL Bank reported net profit of Rs 201 crore in the June quarter as against net loss of Rs 459 crore in the year-ago period.


The gross Non-Performing Assets (NPAs) of the bank declined to 4.08% of the gross advances as of June 30, 2022, from 4.4% registered in March qurter, it said in a stock exchange filing on Thursday. READ MORE.


Tesla sells 75% of its Bitcoin holdings after Musk said he doesn’t dump


Tesla Inc. sold a significant chunk of its Bitcoin holding, an investment that helped legitimize the world’s largest electronic currency.


The carmaker had converted roughly 75% of its Bitcoin to fiat currency as of the end of June, adding $936 million of cash to its balance sheet, according to its shareholder letter on second-quarter earnings. READ MORE.


RBI reschedules next MPC meet to Aug 3-5 due to ‘administrative exigencies’


The Monetary Policy Committee’s (MPC) meeting that was scheduled from August 2-4 will now be held from August 3-5, the Reserve Bank of India said on Thursday.


“Due to administrative exigencies, it has been decided to reschedule the MPC meeting. This announcement is being made under Section 45ZI (4) of the Reserve Bank of India Act, 1934,” the RBI said in a statement. READ MORE.


Presidential polls: Droupadi Murmu leads after first round of counting


The NDA’s presidential candidate Droupadi Murmu is leading with 540 of the 748 votes of the MPs, while Opposition nominee Yashwant Sinha has received 208 votes after the first round of counting, Returning Officer P C Mody said on Thursday.


Votes of 15 MPs were declared invalid, he said, adding that all the votes of MPs have been counted. READ MORE.

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