The convergence between the government, the regulator and lending institutions has helped address problems upfront rather than postponing them. Today, we do not need physical monitoring because we have data points like GST and tax returns.
L&T Fin sells loan portfolio for Rs 1120 crore under the conventional 15:85 structure. Warasgaon Power, Warasgaon Assets Maintenance, MEP Infrastructure, Supreme Panvel Indapur Tollways, SEW Infrastructure, Supertech Infrastructure, Brassco Engineering Ltd and EMTA Coal are among the 36 accounts sold to Phoenix ARC.
The special counter was inaugurated by the banks' managing director and chief executive officer, Baldev Prakash, and chief executive officer the Shri Mata Vaishno Devi Shrine Board, Ramesh Kumar, at Katra, the base camp for pilgrims visiting the shrine, the spokesman said.
As far as the retail segment is concerned, Rajeev said, the housing sector is growing very well, but there are some issues with vehicle loans due to chip shortage.
Credit growth to industry rose 6.5 percent year-on-year (y-o-y) in February 2022 from 1.0 percent in February 2021. But a distinct trend is that loan growth to large corporates turned positive, recording a marginal growth of 0.5 percent against a contraction of 0.6 percent during the same period, according to the data on sectoral deployment of bank credit released by the Reserve Bank of India.
Announcing the Rs 12,325-crore deal to acquire Citigroup's India consumer banking business, Axis Bank managing director Amitabh Chaudhry said Citibank's customers will continue to avail all the rewards, privileges and offers to which they were previously entitled.
The amount of individual loans disbursed was at Rs 7,503 crore in the corresponding quarter of the previous year, HDFC said in a regulatory filing.
" We believe it might be better to clearly separate the outcome-based regulation from rule-based regulation" report titled "The fallacy of using outcome based intervention as a yardstick for rule based regulatory intervention in Regional Rural Banks - Key Issues & Recommendations" said.
"We expect significant profitability improvements to only accrue from fiscal 2025 onwards as it will take time to complete the acquisition and integrate the assets. The acquisition is likely to be completed over the next nine to 12 months, while full integration will take another 18 months," the agency said in a statement.
Leading Regional Rural Banks (RRBs) are much bigger than most of the SFBs even today, according to a note by Soumya Kanti Ghosh, the group chief economic adviser at SBI.
The income tax return forms notified by the CBDT for FY 2021-22 have been kept unchanged. The individuals are required to provide information related to income received form various sources such as salary, rent etc. in the ITR forms, as applicable, for the FY ended on March 31, 2022.
The government has notified ITR forms for FY 2021-22 which has ended on March 31, 2022.