'Decision on tariffs will be announced soon' (GS-3) China's Foreign Ministry said on Monday that it would strike back at the U.S. if Washington moved forward with new tariffs on $200 billion of its exports. "If the U.S. launches any new tariff measures, China will have to take countermeasures to firmly ensure our legitimate rights and interests," Foreign Ministry spokesman Geng Shuang told reporters during a regular press briefing The two countries have been embroiled for months in a trade conflict that has threatened to hurt consumers in both countries. Mr.Trump has already imposed 25% tariffs on $50 billion in goods from China Escalation in conflict Last week, Beijing welcomed Washington's offer to hold fresh trade talks and said the two sides were discussing details. But over the weekend the Wall Street Journal reported that U.S. President Donald Trump planned to announce tariffs on $200 billion of Chinese goods early this week and that the move could cause Chinese officials to cancel the talks. The U.S. imports around $500 billion in goods from China. An escalating trade conflict serves no one's interests," said Mr. Geng. In response to Mr.Trump's threatened tariffs, Beijing has teed up tariffs of 5%-25% on $60 billion of U.S. goods
Pakistan denies opening land route for India (GS-2) Islamabad has refuted media reports that it has expressed readiness to talk on the restoration of the India- Afghanistan land trade route through Pakistan. Foreign Minister Shah Mahmood Qureshi rejected the reports after US Ambassador to Afghanistan John Bass was quoted as saying that Pakistan had approached Afghanistan earlier this year and indicated its willingness to resume trade between Afghanistan and India through the land route. "Pakistan has not agreed to consider Afghanistan-India trade through our land," he was quoted as saying by the Express Tribune. Pakistan does not allow India to use the land route for trading with Afghanistan, he said
RKMENISTAN AFGHANISTAN KAB IRAN PAKISTAN CHABAHAR PORT GWADAR INDIA Saudi Arabia Oman Myanmar MUMBAI Yemen B a y 72 KM Benga l Distance between the Chabahar& wadar
Amalgamation may take 1 year' (GS-3) * The proposal to merge these banks, seen as long overdue, is being hailed by experts as it will provide scale.The combined entity will become the second largest public sector bank, with a balance sheet size of about crore. 5 lakh "This is a remarkable step. But it still not a mandate. It's the board of the banks [that] have to decide on one side and then the matter would be taken up in the formation of a scheme, submitted to the regulator and importantly it will require Parliament's approval," said Ashvin Parekh, managing partner of Ashvin Parekh Advisory Services. Mr. Parekh is of the opinion the merger process would take nine to 12 months to complete. R. Gandhi, former Deputy Governor, Reserve Bank of India (RBl) also thinks it would take one year for the merger to happen. 'Prudent decision' ** Regarding the choice of the banks, Mr. Gandhi pointed out the government had taken a prudent decision by opting to pick the best bank among the laggards viz. Dena Bank.
Dena Bank has the highest net NPA ratio among the three banks (11.04%), lowest capital adequacy ratio (10.6%) and the only bank among the three having negative return on assets. "But the overall impact of Dena Bank on the merged entity will be limited as it's size is small compared to other banks that are in trouble," Mr. Gandhi said Total business of Dena Bank is 1.73 lakh crore, which is about l 1.5% of the business of the combined entity,The net NPAs of the combined entity would be 5.7% with a capital adequacy ratio of 12.25%. "The long-term synergies would be positive and this entity would emerge as a strong bank Though Vijaya Bank is a profitable bank, it would get the synergies of Bank of Baroda, which is much larger in size. Markets would look at this development with a one-two years horizon," said Sanjiv Bhasin, EVP - markets and corporate affairs, IIFLOne of the biggest challenges for the merger is likely to be human resources management, Mr. Gandhi added.
"Even though they are public sector banks, each one have different culture.The approach and attitude is not to change quickly. So it will depend on leadership...it is to be seen how the leadership tackles the issue," Mr. Gandhi added. th ledership tackes the isue. Mir G5 Unions oppose move The All India Bank Employees' Association (AlBEA) has opposed the government's proposal and demanded the decision be 'reviewed and re-examined "Merger of the banks will not help recover the bad loans," C.H.Venkatachalam, general secretary, Al BEA said "The total bad loans in the 3 Banks, BOB, Dena Bank and Vijaya Bank is about 80,000 crore," he added. "Merger of these banks will not help to recover the bad loans. On the other hand, the focus will be shifted to merger issue and that is the game plan of the government" he said. The union has called for tough measures to recover the bad loans.
The statement pointed out that out of 21 public sector banks, 19 are in loss on account of bad loans and provisions for bad loans. "21 PSBs Put together, as on 3 1-3-2018, the total Operating Profit was? 155,565 crore but due to provisions for bad loans to around 2,70,000 crore, there is a net loss of 285,000 crore," the statement said.
Graduate in Economics. Gold medal in Dissertation, Prepared various documents on Demonetisation and GST, Share-trading and many more