Arun Tiwari, CMD, Union Bank of India said confidence of getting cash whenever needed will return back for people in a month or so. He said RBI is now in a better position to supply currency.
Sajen Peter, an independent director of State Bank of Travancore and a former additional chief secretary to the Kerala government, has objected to the way the bank's merger with parent State Bank of India being done.
Larger gains from the merger of associate banks will be seen only over 1-2 years, B Sriram, MD and Group Executive- National Banking at State Bank of India.
The bank will now start working on a merger process which will be completed by March 2017, says VG Kannan, Managing Director & Group Executive, SBI.
The bank's slippages in Q4 of the last fiscal year stood at Rs 1800 crore, says Jeevandas Narayan, MD, State Bank of Travancore.
State Bank of Travancore (SBT) on Monday reported a 23 percent increase in its net profit at Rs 91.47 crore for the December quarter on account of higher income from operations.
The bank's slippages in the second quarter stood at Rs 775 crore, while it sold loans worth Rs 750 crore to Asset Reconstruction Companies (ARCs). Recoveries or upgrades for the period under review stood at Rs 520 crore
The bank has cut its base rate from 10.15 percent to 9.95 percent effective October 5, 2015
Other than UCO Bank, State Bank of India, Bank of India, Andhra Bank and State Bank Of Travancore have also cut their base rates.
In an interview with CNBC-TV18, managing director of State Bank of Travancore, Jeevandas Narayan said the slippages are expected to reduce in the coming quarters.
The net profit for State Bank of Travancore in Q4 is at Rs 192 crore v/s Rs 48.6 crore on year on year basis and the net interest income for Q4 is at Rs 581crore against Rs 615 crore on year on year basis.
State Bank of Travancore has set the market abuzz by cutting base rates by 10 bps to 10.15 percent. In an interview to CNBC-TV18, VR Iyer, CMD of Bank of India, talks about the bank‘s outlook on rate cuts.
V Raghu, ED at Repco Home Finance says borrowers who found it difficult to bring down down-payment will benefit from this move.