More importantly, it is essential to know that there are no more such assets in the closet or the pain will get prolonged. Policy makers, economists, corporates and analysts were gung ho about growth which supported over investment.(The writer is Chief Economist, CARE Ratings. In case of several such ventures, the promoters abandoned the projects leading to a high level of stalled projects that were estimated to be in the region of Rs 4-5 lkh crore when the NDA government took over. In Indian ventures typically investment is debt financed where equity is a smaller part and hence when projects are abandoned, the banks had to bear the brunt.The issue today is that it is not clear whether or not all the NPAs have been identified and whether these sectors are clean. Therefore, while the judgment was incorrect, it would be hasty to think beyond commercial calls that were made. Stalled projects fed back into the stainless steel fasteners manufacturers engineering sector where surplus inventories resulted followed by surplus capacity.

Power plants were started with enthusiasm, but the logjam in coal allocation meant that the companies could not produce power. This was followed by the IBC with the leading cases being taken up in different batches. As the scheme was supported by the government and RBI such an evergreening process was never questioned. India ranks fifth out of 39 major world economies plagued by bad loans, according to a report by Care Ratings.Heavy investment in telecom through spectrum auctions delivered capacity but combined with falling prices affected the growth prospects. Countries with higher NPA ratios than Indias are part of the distressed group of nations in Portugal, Italy, Ireland, Greece, and Spain. These numbers grew over time.Indias bad loan problem ranks among the worlds worst as the NPAs (non-performing assets) accumulated by Indian lenders are higher than those of banks in most major economies, including US, UK, China, and Japan. Low interest rates and high growth in credit helped to spur the economy which was driven by investment in sectors such as telecom, steel, mining, power, engineering etc. set back progress in investment.

Subsequently, in end-2015, a decision was taken that there should be a fair recognition of NPAs-asset quality recognition, which transformed these restructured assets into NPAs.The UPA and NDA governments claimed that these projects were cleared, but most of them became unviable as the backend were in disarray.Was there any cronyism involved? This could have been there in some cases, but the large numbers we are talking of in the region of 12% of outstanding credit as stressed assets cannot be linked to such cronyism. This was probably the error made as the loans got rolled over, especially in these sectors which are today the big NPAs. Hence the high NPAs witnessed especially in the infra sector are a result of all these storylines which have played out. Trouble started when there were a series of what can euphemistically be termed as irregularities in several sectors involving natural resources and policy. At that time it was never expected that the 8% plus growth in GDP could be any other number and with a touch of hubris was assumed that there was only one way to go.

Should they have been identified earlier? Here the answer is yes, because the concept of restructured assets was flawed to begin with which only deferred the problem without solving it. But it could also mean that future investment could be impeded as the fear of failure of the projects can keep investment back. It was felt that India was poised to grow at an accelerated pace with the decoupling proves from the world economy setting in. This led to the creation of NPAs in these sectors.The story takes a twist when the Corporate Debt Restructuring concept came in. It was a case of project failure where the business models did not work. The resolution process is in progress and the end result would be important as it will determine the future direction for these industries.Can the banks be blamed for this creation of NPA stock? The answer is not clear because when money was lent, it was never expected by anyone that they would fail as they were the leading sectors. Telecom appears to be better placed while in case of steel, the availability of bids for the NPAs is encouraging. In fact there was a perverse incentive to reclassify and restructure these loans under this umbrella. In fact, there was strong justification for reclassification as restructured assets and it was argued that these assets failed since external conditions had deteriorated and hence different kind of treatment was required.

This got reflected more in the PSB balance sheets as they were primarily financed by them while the private banks kept a distance.The advantage of having extra capacity in the form of lacunae in the infra sector in particular meant that there was large scope for investment. It was a risky concept to begin with because while a special CDR cell discussed these issues and allowed for restructuring the debt in terms of tenure and interest rate, it ended up being a case of ‘kicking the can’, wherein the problem was deferred. In fact the entire growth story of China was based on heavy investments in infrastructure, which led to the double digit growth rates on a sustained basis.The genesis of the NPA problem can be traced to the post financial crisis era when loose monetary policy was followed to prop up the economy.). At the margin there could have been governance issues where specific industrial groups were favoured, but almost all these NPAs were loans given to reputed companies in their fields. The steel industry was affected by non-availability of coal and iron to begin with followed by excess capacity which resulted as steel was dumped by China.

The iron ore scam, coal scam, 2G scam etc.Is the present resolution process a solution? To an extent yes, as it will keep aside these bad loans which have built up. The subsequent efforts at resolving the NPA mess through different schemes were apologies at resolution. Add to this the unprofitable Discoms which were not able to honour their PPAs as they were making heavy losses, the power sector went further downwards. The reforms at the Discom level have not worked their way, which is a concern. They are critical components of the growth process. Further, bankers too may be unwilling to lend to these sectors and prefer the retail route. The views are personal. Projects came to a standstill on account of these scams combined with what was called policy paralysis where bureaucrats did not want to take any decision

—By arrangements with thecitystory.It is said that although a stainless steel object can be recycled, it does not degrade. The inherent need to see change is what keeps me going. To combat this, we started engraving the logo of each restaurant on the straw to make their customers aware that the straw belongs to the restaurant.What keeps you going?Preserving our planet is the need of the hour. Another pointer that our clients in the hospitality business are irritated about is of theft of straws by their customers. I have reduced dependency upon single-use plastic at home and in the office.Why did you start SuckIN Eco Straws?In November 2017, I was having brunch at Bastian when I met Chef Kelvin Cheung and applauded him for using paper straws. I still do eat fish when I am travelling internationally for lack of vegetarian options. I have grown up near Juhu beach that had clean, light sand, seashells, fish, and sea birds and have seen it transform over the years into a plastic dump with carcasses of dolphins, turtles, and whales washing up ever so often.

The major issues we face as a startup are addressing people’s concerns over the safety issues of reusable straws.What are the challenges you faced setting this up, and how did you cope?Hailing from a design background, business development and management is absolutely new for me, but my partner, Suraj, has guided me through the journey. When need be, the steel can be melted into liquid form and converted into a new object, thus never ending up in a landfill. By that logic, how sustainable it is?The whole concept of stainless steel straws is that they become like your cutlery, as they last a lifetime.How green conscious is your lifestyle?We are all aware about how consumption of meat, seafood, dairy products, and leather goods damages our planet.Rhea Chhabria always had the urge to do more for the environment and animals. All the inner surfaces of SuckIN straws are smoothened, preventing any residual food particles, and we provide cleaning brushes that can clean the innards of the straws. Using a bamboo toothbrush, biodegradable sanitary napkins and soap bars, carrying my own reusable cutlery and water bottles, etc. I gave up non-vegetarian food and leather goods in February 2016. We are also working on cheaper options that we can sell to coconut vendors, udipi restaurants, and fast food chains. Stainless steel can be recycled multiple times.

It also could get damaged if someone has a habit of chewing on straws. When her pleas with restaurant owners to quit single-use straws fell on deaf ears, she co-founded SuckIN – reusable and eco-friendly bamboo and metal straws, stirrers, and cleaners. So, having a green alternative to straws and stirrers help us prevent single-use plastic landing up in the oceans, thereby protecting marine life.Why opt for bamboo and stainless steel as base materials?Stainless steel is a light, durable, rust-proof, flavour-free material that is available in food grade and medical grade quality; it doesn’t react with acids that might be present in foods and lasts a lifetime, just like your cutlery. As a scuba diver and an avid traveller, I have seen swathes of plastic floating in the sea and have always wanted to do something about it. We can also style these options as corporate gifts.Bamboo, wholesale roof screw colours on the other hand, is a natural product that is fast growing, native to India, and inherently hollow, making it the perfect straw to be used up to 20 times and then put into your wet waste to naturally degrade. We would recommend keeping it in a dry place to dehydrate it thoroughly before storing, to avoid any growth of fungus. Bamboo is a natural product, so it doesn’t contain any chemicals. We use only the best quality of steel which is rust proof, lead-free, BPA-free, and flavour-free.com. We came up with the idea of metal and bamboo straws, and that gave birth to SuckIN in January 2018.

How safe and hygienic are these products since they can be reused?Cleaning properly is the key factor for their safe usage. are some options I religiously adhere to. Using a SuckIN straw is as safe as using a spoon/fork. But he was disillusioned and not at all satisfied and asked me to help him find something reusable. We are positive that we will be able to achieve all these in the next five years. I had made several repetitive attempts to convince other restaurant owners to quit single-use straws but failed.What are SuckIN’s future plans?We aim to create a variety of products to replace single-use plastic items. Alternatively, our straws are also dishwasher safe, making the process of cleaning extremely simple and easy, whether at home or in a restaurant. It is equally easy to clean, but being a natural product it catches on to strong natural and artificial colouring present in foods. Our products follow the rule of the 3 Rs – reduce, reuse, and recycle, making them eco-friendly. Therefore, I decided to take matters into my own hands and contacted my partner, Suraj Nair, to make reusable straws. In fact, anybody with a green responsibility can adopt such a lifestyle. Our goal currently is to replace every plastic straw in India with reusable and eco-friendly alternatives

In an earlier report, India Ratings had said the impaired assets in the system will China self drilling screw distributors peak at 13 per cent by FY19, while the credit costs will come down to 1.A few mid-size state-run banks will experience an "disproportionate pressure on the profit and loss accounts" and hence outlook towards them is negative, the rating outfit said, noting the profitability of large banks will be "stretched" leading to pressure on their standalone ratings. It expects banks to require Rs 91,000 crore in tier-I capital till March 2019 to grow at 8-9 per cent per annum and Rs 20,000 crore of it will come from the government.30 per cent in FY16."

We continue to maintain there is an increasing divide between the large and smaller PSBs, with the former having some access to growth capital, better market valuation, and also some non-core assets to divest while the latter would only receive bailout capital if required and would need to ration their capital consumption over next two years.12 per cent in FY18.On a sectoral basis, the rating agency said the weighted average provisioning in the iron and steel sector is highest at 45 per cent because of the deeply entrenched stress, low capacity utilisation and high expected ultimate haircuts.The report comes a day after the Gujarat High Court allowed banks to go ahead with the move, after Essar Steel, one of the dozen accounts, challenged the RBI directive.

The report said at present, the weighted average provisioning for the 12 accounts from the iron and steel, infrastructure and textiles sectors, stands at 42 per cent as against the RBI mandate of 50 per cent to be achieved through the fiscal."The fear of insolvency will force all stakeholders to seek remedial measures and resolve stress swiftly, which will be positive, in the event it occurs. For infrastructure sector accounts, the average provisions are at 36 per cent.85 per cent as against 2."Indian banks need to provide a bare minimum Rs 18,000 crore additionally towards the 12 accounts identified by the Reserve Bank of India (RBI) for reference to the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) in FY18," the domestic rating firm said..

The extra provisioning, which directly impacts the bottomlines, will eat into banks profits by around 25 per cent in FY18, the report said, adding the impact on return on assets will be 0.Mumbai: Resolution of the 12 large, RBI-identified dud assets under provisions of bankruptcy code will require Rs 18,000-crore additional minimum provisioning and impact banks profitability by 25 per cent in FY18, India Ratings said today.The countrys largest lender SBI had conceded that it will require more provisions but ruled out big impact on profits, while third largest private lender Axis Bank had said it has adequate provisions against its exposures to these accounts."

It can be noted that there have been concerns on banks profitability since the RBI came out with the 12 account names and asked banks to resolve it by end of the year under the provisions on the IBC. The fear of liquidation or winding up could have a positive impact as stakeholders would be willing to arrive at common ground to escape liquidation, nevertheless haircuts specially towards the larger exposures are inevitable," the agency said.The iron and steel sector will require Rs 10,500 crore of extra provisions and Rs 4,100 crore for the infra sector

The report goes back to the need to take back and evolve the carbon tax, spark of the anger of the "yellow vests", towards more transparency, equity. In particular, transport (31% of emissions): demand grows, electrification is late .He wished to publish this 1st report as of June "to influence the decisions of the autumn", had previously said Mrs Quéré: budget, possible announcements before the COP of the UN ..This diagnosis of about fifty pages, entitled "Acting in line with ambitions", was handed over Tuesday evening to Prime Minister Edouard Philippe.For the High Council, structural reforms are needed to put the climate "at the heart of public action". But also buildings (19 per cent of the total), a subject currently at the heart of lively discussions in Parliament on treatment to be reserved for "energy strainers". 

The government has six months to respond to Parliament.But "at the current rate, the commitments of France are unlikely to be required," said its president, the climatologist Corinne Le Quere."As long as action in response to climate change remains on the periphery of public policies, France will have no chance of achieving carbon neutrality by 2050. For example, enact short-term emissions reduction targets in the law, to burn them and send a signal to all actors."Its good to have the goal of carbon neutrality, which is fundamentally lacking is how we go," says Laurence Tubiana, another member of the HCC."Citizens must be aware of the latest analysis," says Le Quéré.The HCC, composed of eleven recognized experts, welcomes the decision of the country to include in the law a goal of carbon neutrality in 2050 (implying that France does not emit more greenhouse gases than its "wells" - soils, forests .

Its purpose is to provide a scientific perspective on public action in the long term.. And "as pending its freeze creates a self drilling screw distributors vacuum, the government should strengthen other instruments," notes the climatologist, including standards or remove fossil fuel subsidies, which have doubled in 10 years.. "On difficult subjects, it is good that there is a real debate, the citizens assembly can help to unlock things.. For this to happen, measures to reduce emissions must become a national priority. , at the heart of the decisions of the public and private actors ", underlines the scientist, co-author of three reports of the Giec. "The actions taken remain insufficient, while all climate policies should now be strengthened," notes this independent body in its first report, published Tuesday in the heat of a heat wave that should be repeated with the ongoing disruption. Laurence Tubiana sees hope.

Paris: "Ambitious objectives" but "insufficient actions", "too weak devices" . In a statement Tuesday evening, Prime Minister Edouard Philippe, while repeating that the fight against climate change is "a priority of the government", recognizes that the action must "be amplified with regard to urgency".That every major project is compatible with the goal of carbon neutrality, that the impact of laws is evaluated: "Who can tell us the impact on emissions of the law on mobility (LOM), or the law Egalim?" , says Ms Le Quéré.Recalling that Ms Le Queré will be hearing at the beginning of July at the next Ecological Defense Council, he assures that the government "will present on this occasion the first responses and the follow-up it intends to give to the recommendations of the High Council, some of which will be taken into account.. - cannot absorb them).

Designed on the model of the British council installed for 10 years, the HCC was set up in late November in full crisis of "yellow vests".It also comes out before the "convention citizen" provided by the government (150 people drawn lots to make proposals on the ecological transition)..Over the past four years, France has not met its emission reduction targets, and if 2018 has been better, weather conditions have largely contributed the report notes. the High Council for the climate (HCC), set up by Emmanuel Macron, invites France to review its policy against climate change

The authors said that one major study limitation is that the consumption of formate by bacteria releases more CO2 than is consumed through carbon fixation. Previous attempts to establish autocatalytic CO2 fixation cycles in model heterotrophs always required the addition of multi-carbon organic compounds to achieve stable growth. They inactivated central enzymes involved in heterotrophic growth, rendering the bacteria more dependent drywall screw for wood on autotrophic pathways for growth. The work appeared in the journal -- Cell.Despite widespread interest in renewable energy storage and more sustainable food production, past efforts to engineer industrially relevant heterotrophic model organisms to use CO2 as the sole carbon source has failed. coli, the workhorse of biotechnology, from organic carbon into CO2 is a major step towards establishing such a platform," added Milo.

The initial supply of xylose for approximately 300 days was necessary to support enough cell proliferation to kick start evolution. coli growth, it does not support heterotrophic pathways.Because formate is an organic one-carbon compound that does not serve as a carbon source for E."This feat is a powerful proof of concept that opens up a new exciting prospect of using engineered bacteria to transform products we regard as waste into fuel, food or other compounds of interest," Milo said. The researchers used metabolic rewiring and lab evolution to convert E."It can also serve as a platform to better understand and improve the molecular machines that are the basis of food production for humanity and thus help in the future to increase yields in agriculture," added Milo.

This creation in synthetic biology highlights the incredible plasticity of bacterial metabolism and could provide the framework for future carbon-neutral bioproduction."Our main aim was to create a convenient scientific platform that could enhance CO2 fixation, which can help address challenges related to the sustainable production of food and fuels and global warming caused by CO2 emissions," said senior author Ron Milo, at systems biologist at the Weizmann Institute of Science."From a basic scientific perspective, we wanted to see if such a major transformation in the diet of bacteria -- from dependence on sugar to the synthesis of all their biomass from CO2 -- is possible," said first author Shmuel Gleizer (@GleizerShmuel), a Weizmann Institute of Science postdoctoral fellow. The engineered strain harvests energy from formate, which can be produced electrochemically from renewable sources.

A grand challenge in synthetic biology has been to generate synthetic autotrophy within a model heterotrophic organism. coli into autotrophs. In future work, the researchers will aim to supply energy through renewable electricity to address the problem of CO2 release, determine whether ambient atmospheric conditions could support autotrophy, and try to narrow down the most relevant mutations for autotrophic growth. The chemostat also contained plenty of formates and a 10 per cent CO2 atmosphere."Converting the carbon source of E..Washington: Researchers have developed bacteria called Escherichia coli, which consume carbon-di-oxide for energy instead of organic compounds.

By sequencing the genome and plasmids of the evolved autotrophic cells, the researchers discovered that as few as 11 mutations were acquired through the evolutionary process in the chemostat. One set of mutations affected genes encoding enzymes linked to the carbon fixation cycle."Beyond testing the feasibility of such a transformation in the lab, we wanted to know how extreme an adaptation is needed in terms of the changes to the bacterial DNA blueprint," added Gleizer.In addition, more research is needed before its possible to discuss the scalability of the approach for industrial use.They also grew the cells in chemostats with a limited supply of the sugar xylose -- a source of organic carbon -- to inhibit heterotrophic pathways