Pressure to dial interest rates down intensifies after GDP growth slows to shocking 5.4%; will inflation at 14-month high of 6.2% be deciding factor as MPC meets amid uncertainty over tenure of RBI Governor Shaktikanta Das?
Several asset reconstruction companies are struggling, a few are dead and some are set to die amid limited availability of bad loans to source and a regulatory requirement to increase their net worth.
IDFC First Bank MD & CEO V Vaidyanathan believes that none of the stories on the bank’s projected long-term growth in deposits, loans, profitability and bad loans have fundamentally changed.
SBI lowers deposit growth forecast to 10%-11% but retains credit growth guidance at 14-16% for FY25; bank to stay away from deposit rate war and margins to remain stable, says chairman CS Setty.
Among top 10 banks in terms of highest amount of loans written off in FY24, six report increase; Union Bank of India, SBI, Bank of Baroda and Central Bank of India buck the trend.
RBI asks banks to urgently reduce number of inoperative or frozen accounts; banks need to take necessary steps and also report their numbers quarterly.
Canara Bank MD & CEO Satyanarayana Raju sheds nearly Rs 40,000 crore of low-yielding advances in corporate sector; taps alternative resources to bridge gap between credit and deposit growth and lends at higher cost.
Banks have seen a surge in gold loans as prices for the yellow metal have soared and the RBI has worried that aggressive lending in this segment can lead to a build-up of bad debt if irregular practices are not corrected.
Share of term deposits in total mix rise to 61.4% in September quarter from 59.8% a year ago, RBI data shows; deposits over 7% interest increase to 68.8% from 54.7%.
Punjab National Bank posts Q2 net profit of Rs 4,303.5 crore, its highest in 16 quarters; global business rises 11.93% to Rs 25,20,246 crore and CD ratio improves to 72.82%.