DCB Bank Ltd. reported a 35.5% year-on-year rise in first-quarter net profit as lower provisions and improving asset quality offset pressure on margins. The private lender posted a net profit of Rs 213 crore for the quarter ended June 30, compared with Rs 157 crore a year earlier, according to an exchange filing on Friday. Net interest income rose 17.7% to Rs 684 crore from Rs 581 crore in the corresponding quarter last year. Asset quality improved sequentially, with the gross non-performing asset ratio easing to 2.43% from 2.45% at the end of March, while the net NPA ratio declined to 0.84% from 0.89%. ALSO READ: DCB Bank Q4 Results: Net Profit Jumps 16% To Rs 206 Crore; Dividend Declared Provisions more than halved to Rs 57 crore from Rs 115 crore a year ago and fell from Rs 69 crore in the preceding quarter, supporting earnings growth. The bank said advances grew 17% year-on-year, while deposits increased 20%, reflecting continued business momentum. Capital adequacy r...
A leading weather experts has warned of "weather wars" between countries if cloud seeding gets out of hand. In a statement, Johan Jaques, a senior meteorologist at environmental technology company KISTERS, has warned if unintended consequences when technology is used to alter the weather. The comment comes as theories claiming Dubai's torrential rainfall was caused by cloud seeding are doing the rounds on the internet. The practice, in which planes inject clouds with chemicals, was introduced in the 1940s especially in areas with little rainfall, or in case of prolonged dry spell.
But several experts don't agree with the theory that cloud seeding was responsible, and the theory has caused a debate in the community.
Still, Mr Jaques thinks there could be diplomatic consequences and subsequent "weather wars" is cloud seeding is allowed to proliferate.
"Cloud seeding aims to enhance and accelerate the precipitation process. Especially in areas which have not seen any rain over a long time, such intense precipitation can lead to infiltration excess flow, with potential flash floods as a result," the meteorologist said in a statement, as per Newsweek.
"The Dubai floods act as a stark warning of the unintended consequences we can unleash when we use such technology to alter the weather. Additionally, we have little control over the aftermath of cloud seeding. Where exactly is it going to be raining effectively? Using techniques such as cloud seeding to bring much-needed rainfall in one area can cause flash floods and droughts in another," Mr Jaques further said.
There is no evidence to suggest that rain in Dubai was caused by cloud seeding. A UAE government agency that oversees the process has denied that any such operations took place before the storm.
The UAE state news agency late on Wednesday carried a statement from President Sheikh Mohammed bin Zayed Al Nahyan saying he had ordered authorities to assess the damage and provide support to families impacted by the storm.
from NDTV News- Special https://ift.tt/duPaern
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