Remittances and payments businesses have become the cornerstone of SBM Bank India's growth strategy. As banking evolves to become more personal, platform-agnostic and always-on - the Bank has been leading the collaboration narrative to access the best-in-class solutions with its switching partner, YAP, the statement said.
The rating agency analysed top 500 debt-heavy private sector borrowers and said the additional stressed loans will take the cumulative quantum of delinquent loans to Rs 4.21 lakh crore over the FY21 and FY22.
SBI chairman Rajnish Kumar recently said in an interview that the bank was planning to move to a work-from-anywhere model rather than just work-from-home
In a sale notice to the public in general and in particular to Avantha Holdings Ltd (the borrower) and Avantha Realty (mortgager), Yes Bank said it took constructive possession of the property mortgaged to it on February 10, 2020 for recovery of Rs 548.30 crore.
The bank is targeting gold loan growth to touch 35 per cent during FY21 as against 29 per cent in FY20.
Major central banks across the world were taking unprecedented steps to bring back their economies in good shape, Deputy MD of SBI (IBG) C Venkat Nageswar added.
The subvention will begin from June for the next one year for borrowers that had opted out of the moratorium offer. RBI extended the moratorium benefit till August 31 for borrowers under stress. The ministry also said that banks, NBFC and MFI that channel Mudra loans to the bottom-of-the-pyramid borrowers cannot raise interest rates on Shishu loans till the subvention scheme remains operational.
The National Stock Exchange (NSE) will replace Vedanta with HDFC Life effective from July 31. ET presents some of the key factors to consider while valuing and comparing these stocks.
"In line with this objective, the bank has taken a decision to fully wind down and close the operations of Axis Bank UK Ltd, a subsidiary of the bank, and targeting for surrendering of the banking licence by end of April 2021," bank said in regulatory filings at stock exchanges late on Thursday after closing hours.
The loan has a tenor of three years including a moratorium of six months, an official statement said.
The searches took place at the premises of the company office and accused directors Kulwinder Singh Makhani, Jasmeet Kaur and Manjeet Singh Makhani in Punjab's Amritsar, officials said.
Parekh said the global economy has never before simultaneously seen demand and supply evaporate and the pandemic has revealed the fragility of health systems and the lack of social safety nets the world over. At the same time, the lockdown has reinforced the value of the essentials of life -- food, clothing, shelter and now, the internet.
In a letter to shareholders in the mortgage financier's annual report for fiscal 2019-20, Parekh called for easier financing, loan restructuring and also end to end approval and disbursment of mortgage loans.