Budget 2018-19

Banks flagged exposure to environmentally sensitive businesses including cement, coal, oil and power. They also listed effects of cyclones and floods on loan repayments in farming and related sectors v An increase in extreme weather events such as floods, droughts and cyclones risk souring debt worth more than Rs 6.19 trillion ($84 billion) at India’s biggest financial institutions. That’s according to leading nonprofit environmental disclosure platform CDP. State Bank of India, the country’s largest lender, HDFC Bank, IndusInd Bank Ltd. and Axis Bank Ltd. are among the institutions that reported climate risks to CDP in 2020, it said in its annual report released Wednesday. The banks flagged exposure to environmentally sensitive businesses including cement, coal, oil and power. They also listed the effects of cyclones and floods on loan repayments in farming and related sectors. Lenders accounted for 87% of the total risk, valued at about $97 billion, across 67 top Indian comp...

  Andhra Pradesh has suffered agricultural and infrastructural damages worth Rs 8,084 crore in the recent heavy rains and floods Andhra Pradesh has suffered agricultural and infrastructural damages worth Rs 8,084 crore in the recent heavy rains and floods. “The estimated loss is about Rs 8,084 crore, of which Rs 5,000 crore occurred due to infrastructure damages. Also, agriculture and allied sectors suffered flood damage of Rs 3,000 crore as incessant rains occurred right before the harvesting period,” said a government statement. On Wednesday, the Central government team which visited five districts to assess flood damages in the southern state called on Chief Minister Y.S. Jagan Mohan Reddy. For the last two days, the team toured  Andhra Pradesh flood -affected East Godavari, West Godavari, Krishna, Guntur and Anantapur districts. On a request from Reddy, the team visited Anantapur, considering the groundnut crop was extensively damaged. Reddy requested the team to help as m...