Canara Bank Q2 net up 200% at Rs 1,333 crore amid high growth in non-interest income and lower provisioning for bad loans; CEO Prabhakar expects recoveries to outpace fresh NPAs.
CEO Rajendran plans expansion in branches and geographies to tap into deposits in low interest rate regime that has helped bank maintain high profitability growth; aggressively growing gold loan book to continue.
Yes Bank will take legal route against Dish TV, CEO Prashant Kumar said; all bad loans of bank to move to ARC where bank will hold minority stake.
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Aided by a Rs 340-cr recovery from its written off accounts, Bank of Maharashtra doubles Q2 net profit to Rs 264 cr over year-ago quarter.
IDBI Bank’s net interest income for Q2 rose 9% to Rs 1,854 cr; gross NPAs fell 20.92% while net NPA improved to 1.62% from 2.67% a year ago.
RBI’s key challenges will be to manage liquidity, inflation and growth as post-Covid repair work starts. A shift from easy-money policy will, however, require delicate balancing.
Bank of Maharashtra cuts repo linked lending rate and MCLR; customers availing home loan, car loan, education loan and personal loan, along with MSME loan products, will benefit.
RBI continues to keep repo rate unchanged at 4%; signals gradual move towards ‘normalising’ monetary policy as economy emerges from shadow of second wave of Covid.
Punjab National Bank will hive off newly set up credit card biz into a wholly owned subsidiary; gets RBI nod to dilute stake in new entity to 51%.
IOB expects to come out of PCA and recovery of bad loans is one of the key areas of focus; education loans comprise 13% of the bank’s retail loan book.
FM Nirmala Sitharaman unveils plan for India’s first bad bank; govt to provision Rs 30,600 cr guarantee to back security receipts issued by NARCL as banks prepare to offload Rs 2 trillion of soured assets over 5 years.
Banks lure customers with lower interest rates as part of festive offer as market shifts to retail loans. Here is what SBI, PNB, BOB, Bank of Maharashtra and Kotak Mahindra Bank are offering.
After four years of handcuff, UCO Bank will have no lending restrictions as it exited from RBI-imposed PCA framework on back of improved financial position and reduction in bad loans.
A surge in gold loans pushes retail advances to top of bank credit for first time; industrial credit is at Rs 28.24 lakh cr while retail is tad higher at Rs 28.58 lakh cr.
Depositors of stressed banks to get up to Rs 5 lakh back from 30 Nov as govt notifies amendment to DICGC Act.
