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Veterans feel banks may find ways to adhere to timelines mentioned in RBI discussion paper but it is going to take a while to make them stable and make them work within the timeframe.
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The Reserve Bank today proposed a slew of measures, including incentives to lenders for coming together and tackling an account timely and penalising borrowers with higher interest rates in future for not cooperating for a resolution. The RBI discussion paper is open for public comments till January 1.
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The consolation, if any, is that the macro-environment may not deteriorate here on. That is ICICI Bank CEO Chanda Kocchar‘s big picture view of the economy and the banking industry.
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State Bank of India's decision to raise base rates comes on the back of increased costs of funds, its chairperson Arundhati Bhattacharya tells CNBC-TV18 in an interview.
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SBI is looking at the contours of a plan - a festival plan for offering loans for offtake of consumer durables. So within a couple of days, the bank will be ready with that offering, says A Krishna Kumar, bank managing director.
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Leverage is a key factor in FCNR (B) and obviously when it comes to availing of leverage it is the foreign banks which have an advantage because they can use their home country balance sheets or parent balance sheets to provide that leverage, says Neeraj Gambhir, co-head of fixed income at Nomura.
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Capital is not a problem for SBI, infact it is above what has been recommended by basel III. Arundathi Bhattacharya, managing director, State Bank of India, doesn't expect any impact of the rating downgrade on the domestic front.
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Sugar cane prices have increased 17 percent on average for the last three years, while sugar prices have been lower by nearly 10 percent year-on-year (YoY).
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Gammon Infra feels that the infrastructure sector may see no recovery till 2014 polls as there will be political indecisions and lack of stability. The PPP projects may also see a rise in debts in case banks decided to pass on rate hikes to the customers.
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Pratip Chadhuri, chairman, State Bank of India, says the short term rates will continue to stay high as long as government treasury bills are being auctioned at 11-11.5 percent.
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State Bank of India chairman Pratip Chaudhuri, expects SBI‘s net interest margins to be in the range of 3.55-3.60 percent. He said he has recommended to the RBI that it reduce Cash Reserve Ratio by 1 percentage point.
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Arundhati Bhattacharya, managing director, State Bank of India says that the bank is not dependent on wholesale funding.
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Already FCNB rates are at LIBOR plus 300 and it is difficult to locate borrowers at that level. If the rates were raised to LIBOR plus 400-450, it would be more competitive but it will be very difficult to find enough borrowers.
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Commercial paper and the certificates of deposit market pricing, which were earlier in the range of 8-9 percent, would certainly move beyond the cut-off in the RBI auction of short-term paper
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Diwakar Gupta, executive director, SBI says, in an interview to CNBC-TV18, that sovereign bonds will be disastrous for the economy and a 15-percent credit growth is possible.
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Banks on their own can‘t determine when to harden rates it all depends on the market, SBI chairman Pratip Chaudhuri told CNBC-TV18 in an interview.
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SBI has registered substantial credit growth in its retail segment. Meanwhile, SBI recently told media that it needs Rs 2,30,000 crore in additional capital to meet the stringent Basel-III requirements till 2018.
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The public sector bank is not contemplating any change in interest rates, said SBI, chairman, Pratip Chaudhuri. The impact of RBI measure won't have a significant impact on the bank's bond portfolio, nor will the MTM losses increase, he added.
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Speaking to CNBC-TV18, Diwakar Gupta, MD & CFO of the country's largest lender State Bank of India says the biggest problem will be calculation of corporates' un-hedged exposure.
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Pratip Chaudhuri, Chairman, State Bank of India is more optimistic of India's economic growth than most economists who see GDP growth below the 5 percent mark.
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A Krishna Kumar, MD of State Bank of India says the country‘s largest public sector bank has started an investigative audit on the allegations of wrongdoing levied by online portal Cobrapost. Kumar expects to complete the internal inquires by next month.
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Even though there is no such big threat for rating downgrades, according to Ananda Bhoumik – Director India Ratings, the domestic arm of global rating agency – Fitch; non-performing loans (NPLs) are expected to rise till September, 2013.
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State bank of India expects to report lower non-performing assets in January-March as compared to third quarter, backed by better recoveries in retail NPAs and is very positive about its agriculture portfolio.
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Indian Overseas Bank chairman M Narendra says, in an interview on CNBC-TV18, that the bank will lend more to the TNEB after the process of restructuring.
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Vivek Gupta, Partner at BMR Advisors clearly considers the entire situation to be messy. According to him, there will certainly be a hierarchy of demands once claims are made.
