"Today, we want to pledge that we, as a bank, want to become carbon neutral by the financial year 2031-32," its Group Head (CSR, Business Finance and Strategy, Administration and Infrastructure) Ashima Bhat told reporters.
According to banking sources, work is progressing on multiple fronts to ensure that the bad bank starts operations as soon as possible. On Wednesday, bankers met to finalise the capital structure of the bad bank (NARCL). Sources said that the company would need at least Rs 6,000-crore capital of equity and debt to start operations.
The assets including several floors of the UB City commercial tower in Bengaluru’s central business district and shares in United Breweries and United Spirits that Mallya had controlled are estimated to be valued at ₹5,646.54 crore.
Last year GDP growth was negative. This year even if there is a correction from the initial double digit estimates for real GDP, norminal growth will be 13% to 14% which will have some implications on credit growth. We are looking at a loan growth of 7% to 10% compared to 5% last year. he said.
Stakeholders believe that since there has been negligible recovery in such fraud cases from either the bankruptcy mechanism or the DRT, allowing such accounts to be sold to ARCs could fetch better returns and free up capital for fresh growth.
Icra Ratings said non-banks (NBFC and HFCs) will feel the stress of the second wave of COVID-19 and movement restrictions imposed by various states in April-May 2021, given the fact that 25-30 per cent of their loan collections happen through field collection teams and largely via cash.
The deployment of Azure’s artificial tools has, among other things, allowed ICICI Lombard to improve the accuracy of its quality audits. According to Girish Nayak, ICICI Lombard’s chief technology officer, the use of cognitive intelligence technology will automate quality checks which will in turn make their service more efficient.
As per the bank's revised policy on sale of financial assets, in line with regulatory guidelines, SBI said it places these accounts for sale to banks, ARCs (asset reconstruction companies), NBFCs or FIs (financial institutions).
Customers can conduct over 15 types of transactions using the Mobile ATM, which will be operational at each location for a specific period. The Mobile ATM will cover 3-4 stops in a day.
NBFCs with exposure to sectors like microfinance, rural/semi-urban borrowers with small-ticket (SME, vehicle loans) and unsecured loans which have a higher share of field collections will be hit hardest, impacting their asset quality and hence profits.
"Slowing economic activity in India due to the second wave will constrain commercial vehicle owners' capacity to pay auto loans. As a result, commercial vehicle loan delinquencies will increase in India and collection rates will remain below March levels over the next three to six months," says Dipanshu Rustagi, a Moody's Assistant Vice President and Analyst.
NCLAT on May 25 stayed the Mumbai NCLT’s order directing the administrator of DHFL to consider a settlement proposal from its former promoter Kapil Wadhawan.