ABSTRACT
[...]the latest Master Circular chooses continuity over radical change in capital regulations. Even Indian banks which were brought under the Prompt Corrective Action (PCA) framework exhibited a chronic deficiency of Tier I capital. [...]the stated goal of the Basel III regulations was to increase bank reliance on Tier I Capital, under normal and stressed conditions. [...]the credit risk capital requirements in India are at least as high as the global benchmarks. Under this approach, Operational Risk Capital Charges are equal to 15 per cent of Average Gross Income over the last three years (provided gross income is positive each year). [...]for regulatory capital charge estimation, banks will continue to assume that the size of operational losses increases with the scale of business (i.e. gross income) and there are no diversification benefits across business lines.
ABSTRACT
In India, unemployment is not a new picture. Well, it increased tremendously during covid. We cannot imagine that how many people in India lost their jobs and was facing tough times both mentally and physically. The factories where the labors worked with their sweats and toils drove them away without thinking about their food and shelters. Though I understand that those companies were also facing cut throat situation as they were unable to make profits and pay their employees, but every company should treat their employees as their home members in work because employees are the responsibilities of a company or an organization. Tourism and travel business automatically got affected as we know that the whole world was in quarantine and as we all were quarantined, so for safety and precautions 96% of people preferred all the things delivered in home through online. So, in this way, the business through online gradually increased. Growth of pharmaceutical business occurred during covid throughout the world and not only India as medicines were the most necessity along with food. So, as the demand of medicines and food were the most that's why price also increased as the availability of those were decreasing. In a gig economy, large numbers of people work in part-time or temporary positions or as independent contractors. The result of a gig economy is cheaper, more efficient services, such as Uber or Airbnb. Covid-19 cases affected online job openings and online job filling affected the spread of pandemic. The Findings suggest that policymakers should make policies to support Gig economy because it has the potential to keep the world going even in the toughest of times. impact of Covid-19 on stock markets and economies of a country or a region but because the Gig economy platforms are global in nature so this study examines the impact of pandemic. Covid 19 had a very negative impact on mental health. Due to covid people behavior are affected very badly. It caused anxiety, depression, stress, mood swings and overthinking among each individual. Isolation and social distancing made people bound to stay away from each other. It has increased the barrier of communication. People are forced to stay in their home for longer period of time which made people frustrated and angry because before this they never had experienced this type of phase. Most probably children and youth had suffered from mental health problems. Away from the schools, colleges and offices actually affected them more. They were not able to meet their colleagues and friends which increased less concentration on their work and studies and their self- confidence was also fading. They were not able to focus on their work which made them annoyed which resulted in their lifestyle due to this it also affected their health. Older people are also affected which resulted in their behavior like they were shouting on smaller issue and have more anger issues. Emotional outburst is the one of the biggest challenges everyone had faced this during this pandemic. When one is upset or sad, he or she needed someone who actually understand them listen to them but one is leftall alone which resulted in emotional breakdown. Everyone faced this trauma and felt exhausted but at the end of the day everyone came out from this phase and they are stronger than before to face any challenges and hurdles. Covid-19 pandemic has created a havoc in our lives. During this turbulent time the "Health care system" is playing a very important role. Since the covid-19 outbreak health care professionals are working selflessly;doctors, nurses are working day and night to fight this pandemic and there are also medical cleaners, ambulance drivers, paramedics, pathologists who are helping them. Doctors and nurses are repeatedly cautioning us from the virus and also, they are treating the covid patients. While people across the world are home quarantined and schools, colleges, shopping malls, transportation system everything was closed in an attempt to contain the virus then these brave warriors are fi hting on the front line. Nearly 600 doctors across India have died of the covid-19 during the second wave of the pandemic, according to data compiled by IMA. Many nurses have also died. In India more than 50,000 civil defense volunteers are working effortlessly during this pandemic. They are continuously cautioning us "to stay at home, get out from your house if necessary";informing us about the covid-19 guidelines and made the lockdown successful. They are supplying medical equipment such as lifesaving medicines, masks, sanitizers, PPE kit, oxygen cylinder;helping to deliver food for needy people, setting up community kitchen and shelters for migrant workers. In this life-threatening situation when "Home" is the safest place, for your mental strength you need family members that time they have to stay far from their home, far from their families for their duties to protect us. Policemen are also playing an important role to keep people safe both in and outside the home;as in this time crime rate has increased very much, as well as domestic violence. Grocery and medical shopkeepers worked hard so that we could get food and necessary items during lockdown. The sacrifices this people are making continuously for humankind are priceless. Our utmost gratitude to the warriors for their subtle contribution. The covid pandemic has disrupted most of the aspects of our life. We the youth of the country are badly affected by the disaster named as covid 19 pandemic. Covid not only affected the people physically but also mentally. It not only affected the economic sectors but also affected the social sectors like school, colleges and other type of educational institutions. Before the pandemic most of us were habituated with the offline forms of education. As per the norms declared by the government, all educational institutions must be closed which not only affected the economy but also affected the daily routine of the students like us. During the lockdown period initially, online classes feel better as the exams are also taken online but finally came to know that the virus is not a blessing to the students but a foreshadow of the student's further life to adjust the online mode of education. We, the students felt a lot of difficulties while doing projects as many students don't have the facility of having computers in their home. Mainly the students coming from rural areas faced several problems in this online mode of education. We faced bunches of problems like power cuts during online classes, network issues, difficulties in submitting projects, face to face communication with the educational faculties, unable to go for educational excursions. The pandemic also affected the mental health of the students.
ABSTRACT
[...]the analysis of adaptive collection strategies in Treasury's Cross-Servicing program and its automated Offset Program (TOP) tool includes tips for managing delinquencies in the current economic recession. [...]both programs have enacted beneficial adjustments to collection policies toward strong consideration of a debtor's financial position and the need for robust collection operations. EDUCATION COLLECTIONS ED provided federal collectors a sizable list of COVID-specific policy tweaks designed to benefit the second largest class of debtors in the U.S., student loan borrowers.16 More than one-tenth of the $14.3 trillion U.S. consumer debt comes from student loans, reportedly held by nearly one-fifth of adults in the U.S.17 Furthermore, ED receivables accounted for nearly 80% of all non-tax amounts due the federal government in FY 2019,18 while payments owed the department accounted for half of all TOP activity in 2019.19 Given the pervasiveness of operations and the breadth of its debtor demographic, ED and its burgeoning schedule of debt collection policy modifications can serve as a blueprint for smaller agencies with similar debtor characteristics. Among the modifications20 are: Ф Temporary suspension of ED student loan payments. Ф A moratorium on garnishments, tax refund offsets, Social Security offsets, and collection agent contact. ?· 0% interest rates on student loans, including loans in default status. ?· A safe harbor period for crediting $0 payments toward eventual Public Service Loan Forgiveness and income-driven repayment. Ф A tax-free, employer contribution allowance (up to $5,250) toward repayment of their employees' student loans.
ABSTRACT
Purpose: The study aims to identify changes in the credit activity of banks in EU, including the loan portfolio of non-fmancial corporation's (NFCs) and main determinants of non-performing loans (NPLs) in Poland in the period Q1.2009 - Q4.2021. Design/Methodology/Approach: The study presents the differences in the NPL rates and debt servicing costs in the Visegrad Group countries, as well as Germany and France. The author presents the results of an overview of NPL research on EU countries. In modelling the NPLs granted to NFCs in Poland the variables used are, macroeconomic (market), financial variables of corporations, and banking conditions. Findings: The analysis of NPL changes shows that there was a long-term downward trend confirming the improvement in the quality of the portfolio of loans of NFCs. However, the last quarters (during the COVID pandemic) have brought an increase in the NPLs. Results of the impulse function confirmed, that the NPLs showed declining trends in response to impulses from, NPL's own changes, GDP, CPI, WIBOR, ROAC, GFCF, TOFSP and the increasing trends in response to changes, CROAC, GTPR, AIRCL, CAR and CR of CR. Results of variance decomposition indicate that the main pillar of the explanation of NPL changes were, GDP, GFCF as well as CPI and WIBOR. Practical Implications: The results of the research will enable the management of the loan portfolio of NFCs and credit risk management. Orginality/Value: The article contains a literature review and current research results concerning the analyzed issue Results of the NPLs research confirmed the pro-cyclical nature of lending activity in Poland in the verified years.