National News
Gross NPAs of banks fell to 10-year low of 3.9% in March: RBI report
The gross non-performing assets (GNPA) ratio of banks fell to a 10-year low of 3.9 per cent in March 2023, the Reserve Bank of India (RBI) said in its financial stability report (FSR), released on Wednesday.
The net non-performing assets (NNPA) ratio declined to 1.0 per cent, the RBI report said.
The macro stress tests for credit risk reveal that scheduled commercial banks (SCBs) would be able to comply with the minimum capital requirements even under severe stress scenarios, the report emphasised.
Stress test results reveal that SCBs are well capitalised and capable of absorbing macroeconomic shocks over a one-year horizon even in the absence of any further capital infusion, it said.
“As per the stress test results, the GNPA ratio of all SCBs may improve to 3.6 per cent by March 2024,” the report said.
The FSR report is a half-yearly report card of the Indian banking system. As per the report, the improvement in SCBs’ asset quality has been broad based, with a steady decline in the stressed advances ratio across all major sectors.
Also, while there has been overall improvement in asset quality in respect of personal loans, impairments in the credit card receivables segment have risen marginally, it said.
Crime
Maharashtra Shocker: Man Arrested For Killing 6-Year-Old Daughter To Meet Two-Child Norm For Panchayat Polls

Hyderabad: A man from Maharashtra killed one of his three children to overcome the two-child norm to contest the upcoming Panchayat elections in that state.
Pandurang Kondmangale, a resident of Kerur village in Mukhed taluka of Maharashtra’s Nanded district, pushed her six-year-old daughter into a canal in Telangana’s Nizamabad district.
Nizamabad Police on Monday announced the arrest of Pandurang (28) and village sarpanch Ganesh Ramachandra Shinde.
Nizamabad Police Commissioner P. Sai Chaitanya told media persons that the body of a girl was found in the Nizam Sagar canal in Yedapally a few days ago. The investigation led to her identification as Prachi (6), a resident of Kerur village in neighbouring Nanded district of Maharashtra.
Police picked up her father for questioning. He tried to mislead the police by stating that she was undergoing treatment at a health centre. When grilled by the investigating officer, he confessed to killing the child.
What he revealed during the questioning was shocking for everyone. Pandurang, who runs a barber shop in his village, was keen to contest the upcoming Panchayat elections. As he had a three-year-old boy and twin girls aged six, he was ineligible to contest in view of the two-child norm for candidates contesting local body polls in Maharashtra.
He consulted his friend and current sarpanch of the village, Ganesh Shinde how to overcome the norm. They conspired to get rid of one of his children, Prachi, the elder of the twins.
According to police, they initially considered putting Prachi up for adoption. But that would not have served the purpose because she would still be registered as his child in the birth certificate.
Pandurang also thought of abandoning the child, but was worried about the consequences in the event of her return. They then conspired to kill the child and make it seem like an accident.
As Nizamabad district is only a few kilometres away from his village, Pandurang took Prachi on a motorcycle to the Nizam Sagar canal. He pushed her into the canal and fled. Some villagers who were working in the field nearby heard something plunge into the water and rushed there to find the girl’s lifeless body floating in the canal. They alerted the police, which launched an investigation.
The girl’s pictures were circulated widely on social media. Someone from the Maharashtra village identified Prachi when they saw her photo as the display picture on the WhatsApp number of one of the police personnel.
A police team reached the village and began an investigation, which led to the arrest of Pandurang and the sarpanch.
Business
Stock market cheers India-US trade deal, Sensex rallies over 2,400 points

Mumbai, Feb 3: The Indian equity markets surged sharply by around 3 per cent early on Tuesday with broad-based buying across sectors, buoyed by the announcement of the India-US trade deal.
As of 9.25 am, Sensex added 2,421 points, or 2.97 per cent, to reach 84,088, and Nifty gained 741 points, or 2.96 per cent to settle at 25,829.
India and United States have agreed to a trade agreement under which reciprocal tariffs on Indian goods will be slashed to 18 per cent from 25 per cent, and the additional 25 per cent duty on purchases of Russian crude oil will be eliminated. The trade deal will be “effective immediately”, President Donald Trump said, following a phone call with Prime Minister Narendra Modi late on Monday, offering immediate tariff relief for India.
Main broad-cap indices posted strong gains, as the Nifty Midcap 100 surged 3.10 per cent, and the Nifty Smallcap 100 added 3.25 per cent.
All sectoral indices were showed huge gains with realty, auto, consumer durables and IT being the major gainers, up 4.47 per cent, 3.78 per cent, 3.69 per cent and 3.04 per cent, respectively.
At 18 per cent, India’s tariff rate is now lower than that of several major export-oriented Asian economies. Bangladesh, Sri Lanka, Taiwan and Vietnam face tariffs of 20 per cent, while Indonesia, Malaysia, Thailand, the Philippines and Pakistan face tariffs of 19 per cent.
Immediate support for Nifty lies at 25,600-25,800 zone, while resistance is anchored at 26,200–26,350 zone, market watchers said.
“The dramatic announcement of the long-awaited US-India trade deal and the US decision to cut tariffs on India from 50 per cent to 18 per cent is a game changer for the Indian economy and stock markets as its delay was the single important factor weighing on the markets,” an analyst said.
According to market watchers, India’s growth rate will rise to around 7.5 per cent in FY27, assisted by higher exports to the US from the deal, and corporate earnings already on revival could accelerate to around 16 per cent to 18 per cent in FY27.
Analysts also said that the rupee will rebound sharply, adding that the combination of US-India trade deal, the EU-India trade deal and the growth-oriented Budget will boost the market sentiments. The positive sentiment could trigger immediate foreign capital inflows, potentially turning India’s Balance of Payments (BoP) position.
Large caps including banking leaders, non-banking financials, telecom, capital goods and IT, which are trading the favourites of FII can see huge inflows, market watchers said.
In Asian markets, China’s Shanghai index gained 0.38 per cent, and Shenzhen added 0.93 per cent, Japan’s Nikkei surged 3.23 per cent, and Hong Kong’s Hang Seng Index edged up 0.11 per cent. South Korea’s Kospi surged 5.04 per cent.
The US markets ended largely in the green in the last trading session as Nasdaq gained 0.56 per cent. The S&P 500 advanced 0.54 per cent, and the Dow added 1.05 per cent.
On February 2, foreign institutional investors (FIIs) net sold equities worth Rs 1,832 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 2,446 crore.
Crime
Mumbai Police Rebuts Social Media Claims About Missing Children; Warns Action Against Rumours

A day after reports claimed that 12 minor children went missing within 36 hours across Mumbai, the Mumbai Police on Monday issued a statement rejecting the claims and warning social media users against spreading rumours related to missing or abducted children.
In a post on X, the Mumbai Police said, “Some social media accounts are spreading false information and rumours regarding missing and abducted children. We completely deny these claims.”
The police added that the process has been initiated to register FIRs and take strict legal action against individuals deliberately circulating false information to create fear among the public.
The clarification came a day after Media reported that 12 minor children, including eight girls, had gone missing within a 36-hour span. The unusually high number had triggered concerns about the possible presence of organised child trafficking networks in the city.
While some cases were linked to family disputes or children running away from home, a human trafficking angle was suspected in others.
According to Mumbai Police records, 145 children went missing between June and December 2025, including 93 girls. Between November 1 and December 6 alone, 82 missing cases were registered, with adolescents accounting for more than half. These included 41 girls and 13 boys under 18. Police said several children were later traced and reunited with their families.
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