Massive cleanup operation led to skeletons tumbling out of SBI’s bad loan book; also laid foundation for Rajnish Kumar’s successor Dinesh Khara to reap the harvest.
RBI puts growth as its overarching priority but inflation is hurting. A new balancing between growth and inflation may be on the cards next year.
The two-day nationwide bank strike has ended with the threat that more is to follow if the government decides to go ahead with its privatisation programme.
In a letter to RBI, PMC Depositors Forum has said the draft scheme of amalgamation appears to be beneficial to only Unity Small Finance Bank and pointed out how the tenure of repayment and interest accruals can be made more fair.
RBI has left untouched the key lending rate while raising concerns over inflation and the new Omicron variant. "The overarching priority of RBI at this stage is revival of growth,” Governor Shaktikanta Das said.
Prompted by collapse of some NBFCs, RBI’s prompt corrective action framework will come into effect from 1 Oct next year; will be applicable to deposit-taking NBFCs in middle, upper and top layers.
Bank of Maharashtra has also cut interest rate on car loans to 6.80%; becomes first bank to lower rates after RBI maintained status quo in key policy rates for ninth consecutive time.
A fall in bad loans, better recoveries and stronger credit growth is how MD & CEO Mallikarjuna Rao is forecasting the next few quarters would be for Punjab National Bank.
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.