The lender, India's fourth largest by assets, is using pictures taken from space and analysed by a third-party firm, for farm loans in 500 northern Indian villages, with plans to take the technology to 63,000 villages, it said on Tuesday.
The lender, India's fourth largest by assets, is using pictures taken from space and analysed by a third-party firm, for farm loans in 500 northern Indian villages, with plans to take the technology to 63,000 villages, it said on Tuesday.
Arulselvan D said that while NPAs had increased in March, they decresed in June. He said that it stood at 3.8% in March which is not so different from what it was in December (pre-Covid-19) at 3.5%. Now, he said the level was 3.3%.
According to a report published by Ashish Das of IIT Bombay, banks are interpreting the UPI law to suit them to conclude that, while 'payments' are free, transfers can be charged. The report highlights this as an anomaly as such an interpretation would mean different things for different types of transactions.
Private sector lenders such as ICICI Bank, HDFC Bank and Axis Bank have responded by raising over Rs 50,000 crore among them, but their public sector rivals are seen to be slow to enter the market, despite abundant liquidity in the system due to stimulus packages announced by governments across the world.
Prior to this, Bhatia was the managing director and CEO of SBI Funds Management. Before joining SBI Funds Management, he was working as chief general manager, corporate centre in SBI, where he was responsible for revamping the credit structure and processes of the bank.
The product- Structured Finance and Partial Guarantee Programme to NBFC-MFIs -entails providing partial guarantee on pooled loans extended to small and mid-sized micro finance institutions (MFIs), a release said.
“The moratorium should not be extended because moratoriums are given only when the situation is uncertain and one cannot ascertain the impact,”said MD and CEO Mallikarjuna Rao, adding that green shoots were already visible in the economy. Rao expected a broader revival, encompassing more sectors of the economy, to be more effective from October onward.
The bank has shareholders' approval for raising Rs 14,000 crore, comprising Rs 7,000 crore of the equity alone, from the market to meet COVID-related impact and finance growth, Punjab National Bank (PNB) Managing Director S S Mallikarjuna Rao said in a virtual interaction with reporters.
Part of the bank’s strategy to scale up was to implement digital banking 2.0, where the company would build on the capability of its existing digital platforms and also collaborate with them for customer acquisition. He said in future the bank’s customer will be able to use the lender’s ecosystem for everything.
Even as banks’ provisioning for bad loans tapered in the June quarter following the moratoriums, those on account of Covid-19 surged as compared to the previous quarter ending March.
Indian banks, especially those in the public sector category controlling two-third of the sector's loan assets, have turned risk averse following a spate of large defaults by private sector promoters and entrepreneurs. This has adversely impacted investment and economic growth, Subramanian said Sunday evening while delivering Bandhan Bank's annual anniversary lecture.
The housing finance book is targeted to grow five times to Rs 1 lakh crore in the next five years from the present level of nearly Rs 20,000 crore, its chief executive and managing director Chandra Shekhar Ghosh told .