The number of loan applications received during the September quarter grew by 12% over last year while individual loan approvals rose 9%. Individual loan disbursements was at 95% levels over last year. It’s loan disbursements by value rose 11%.
“The bank is gearing up for the next level of structural transformation toward a true universal bank like large private peers by re-organizing business verticals and leadership positions either by hiring laterally or up-skilling,” said Anand Dama, analyst with Emkay Global Financial Services.
The Centre on Friday filed an affidavit before the Supreme Court on loan moratorium issue and said it has decided to waive compound interest (interest on interest) for a moratorium period of six months for Ministry of Micro, Small and Medium Enterprises (MSME) and personal loans up to Rs 2 crores.
“We are certain that the momentum of growth in affordable housing will continue…We are confident that Hali and Bahl jointly with their domain expertise in the housing finance industry would help us strengthen our market position and expand our footprint in India,” said Motilal Oswal- CMD, MOFSL.
The government’s proposal to pick up the tab for the waiver of 'interest on interest' on loans of up to Rs 2 crore clears the uncertainty over bank earnings for the quarter, giving them room to offer liberal loan-rejig terms to stressed borrowers.
Among other things, the group in its report has come out with Specimen Policy Wording (Drone Insurance) which includes various definitions and covers various aspects, including legal liabilities to third party, drone hull cover, personal accident cover to operator, accidental medical cover to operator, general exclusions and general coverage.
Ranked at Number 39, he is the only CMO of an Indian company to be featured in the illustrious list which includes marketing heads of Apple, BMW, Lego, Adobe, Microsoft, P&G among others.
As on March 31, 2020, there were 45 RRBs functioning in 685 districts of 26 states and three Union Territories (UTs). These RRBs were sponsored by 15 commercial banks and operating through a network of 21,850 branches. The data on RRBs, recently published by Nabard, is based on the data uploaded by the RRBs in the Ensure portal.
Kumar was chargesheeted in the case by the Economic Offences Wing of the Delhi police for allegedly abusing his position and conspiring with the then management of RFL, RHC Holding Ltd, and Ranchem Ltd, to misappropriate a sum of Rs 791 crore.
In its affidavit, the finance ministry said the government has decided to maintain its tradition of handholding small borrowers and bear the burden arising from such waiver of interest on interest, or compound interest, for the banks.
In its affidavit, the finance ministry said the government has decided to maintain its tradition of handholding small borrowers and bear the burden arising from such waiver of interest on interest, or compound interest, for the banks.
A group of creditors of Cox & Kings had submitted complaints to the Economic Offences Wing of the Mumbai police against the company for defrauding them. While preliminary enquiries into their complainants are under way, the Mumbai police registered a case based on Kotak Bank’s complaint, which was subsequently transferred to the EOW.
"Blanket loan waiver does not serve any purpose at the end of the day. Whenever governments announced such a move, it's the credit flow which ultimately slowed down as lenders became wary of lending," says Bandhan Bank's founder.