Mushtaq Ahmad, Chairman and CEO, Jammu & Kashmir Bank says FY15 was a tough and challenging year for the banking industry. Floods compounded the situation further for the bank, he adds.
RBI has asked banks to declare REI Agro as fraud company. Deepak Narang, ED, United bank of India spoke to CNBC TV18 what it means for the bank which has an exposure of Rs 200 crore to REI Agro.
According to Arun Kaul, Chairman at UCO Bank, their current exposure to REI Agro stands at Rs 800 crore
REI Agro, which is the largest basmati rice processing and marketing company in the globe posted EBITDA profit from Rs 231 crore to Rs 252 crore (YoY).
Rei Agro has declared their third quarter FY11 results. The company has seen a jump in their revenues to Rs 960 crore versus Rs 651 crore. Their net profit stands at Rs 81.38 crore versus Rs 34.28 crore.