The private lender aims for conscious growth this fiscal and is open for acquisitions
Possible to maintain 94 percent-95 percent collection efficiency this fiscal, the MD said
Bank is in talks with premier institutes to extend education loans and wants to double disbursements under this head from Rs 7,000 crore currently, the MD said
The size of its total balance sheet grew 17 percent YoY to Rs 3.18 lakh crore as on June end
While assets rose at a faster pace, deposits grew 10.4 percent YoY growth to Rs 3.16 lakh crore as on June 30
The bank made provisions to the tune of Rs 642.4 crore during April-June, lower than Rs 1,460.9 crore a year ago.
The government cited 'economic interests' of the state while expressing inability to share the details in response to an RTI query filed by Moneycontrol
The sale of GNPAs would be done through Swiss Challenge method
After he is done with that process, the new chief of the microlender plans to increase the number of branches to 1,500 by FY25-end from 1,120 as of March 31.
Provisional credit growth data filed by lenders with stock exchanges point to a revival in credit demand.
Slippages arising from loans extended under the central government’s emergency credit line guarantee scheme and movement of loans in the restructured pool of advances will be key monitorable in FY23, analysts said.
Banks are even thinking about providing priority funding to power plants that are functional but some loans of the generating company have turned non-performing
Banks had extended credit under ECLGS with the understanding that if a loan falls into the non-performing asset category, all it required was to inform the government and they would be compensated but that is not always the case, Ramakrishnan says.
NBFCs will have to make divergence reporting if the additional gross NPAs identified by regulator exceeds 5 percent of the reported figures.
As of December 31, infrastructure-focused Non-Banking Financial Companies (NBFC) had given outstanding loans worth Rs 13.8 lakh crore.
Normalised collection efficiency will lead to higher recoveries and upgrades and higher credit growth shall further improve lenders’ headline gross non-performing asset figures, analysts say.
Fintechs need to work with banks as they understand credit much better because of their experience of going through several cycles, Ramakrishnan said.
As the SFIO cannot start an investigation suo moto, the Central Government must assign the investigation to the agency in the public interest.
This rise is attributable to Reserve Bank of India’s (RBI) November 12, 2021, clarification on recognition and calculation of NPAs, rather than any real mark-down in asset quality, Crisil said.
Delinquencies or loan repayments due past 90 days in fintech consumer credit increased from 1.82 percent in September 2020 to 4.56 percent in September 2021. Among all categories, fintech has seen the highest increase in late repayments or defaults in the one-year period.
The NPAs of small businesses against loans taken under PMMY, better known as the Mudra scheme, stood at Rs 34,090.34 crore in FY21, against Rs 17,712.63 crore in FY19.
The investigations include questioning the ARCs on allegedly passing on just 20 percent of the amount recovered from NPAs acquired from banks. The I-T Department had raided 60 premises linked to the four companies on December 8.
The country’s largest lender has set a reserve price of Rs 1,423.17 crore for selling this non-performing asset