Thousands of small borrowers fall prey to online payday apps run by the Chinese. Some of them commit suicide. Extortive interest rates ruin the others. Indianbankingnews.com investigates.
Police probe on shady instant loan apps could lead to other possibilities like money laundering. What is the source of funding for these firms? How deep is the local connection?
New trends to surface in credit card industry in 2021
While there is a fair amount of visibility in the corporate book, the retail and SME books are not stress tested, says BoB CEO Sanjiv Chadha.
Govt is planning stake sales in IDBI, Central Bank of India and Punjab & Sind Bank; 10-15% stake in LIC also to be sold.
When Prashant Kumar left SBI as chief financial officer to take charge of a sinking Yes Bank, he had a daunting task. But in quick time he set up a recovery team to handle bad loans and arrested the migration of deposits. His task is still incomplete, but he has put the bank on the profitability path.
In a candid interview with Indianbankingnews.com Editor Manju AB, the managing director and CEO of Yes Bank talks about the non-performing loan mess the founder-promoter left the bank with and the strategic steps taken to revive the troubled bank which was once the fourth-largest private-sector lender in India.
Axis bank’s retail assets account for 83% of fresh slippages. Q3 net profit plunges 36% to Rs 1,117 cr.
Yes Bank swings to profit of Rs 151 cr in Q3 from a loss of Rs 18,560 cr a year ago.
