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What does RBI’s timely COVID-19 intervention mean for banks?

While bottom fishing financial stocks is sensible, be selective.

March 27, 2020 / 04:05 PM IST
What does RBI’s timely COVID-19 intervention mean for banks?

New Delhi: Reserve Bank of India Governor Shaktikanta Das interacts with the media at the RBI office, in New Delhi, Monday, Jan. 7, 2019.(PTI Photo/ Manvender Vashist) (PTI1_7_2019_000090B)

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Adept regulator trying to ease the pain of COVID-19 - Steep rate cut by 75 basis points, unsure how swiftly will it get passed on - Liquidity infusion of up to Rs 3.74 lakh crore to aid banks and MFs - Forbearance for all categories of retail and interest on working capital - Deferred principal payment for term loans - Banks may still have to deal with the real crisis once the dust settles - Credit quality for many sectors to deteriorate - Capital position...

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