Apart from navigating the bank through the Covid crisis, Jagdishan may also have to deal with the latest development on the auto loan lending practice scam. He will be expected to deliver consistent profit growth of 20 per cent-plus quarter after quarter, irrespective of the operating environment.
Move can also bring a huge change in the way business is done in India, where firms use multiple current accounts, often for even individual projects, making them difficult to monitor.
Yes Bank CEO said the private lender is disposing some of the properties in many other cases as well. He, however, declined to elaborate on borrowers against whom such action was underway.
For the first time, the value of card and mobile payments of Rs 10.57 trillion was more than ATM withdrawals of Rs 9.12 trillion in Q4 of fiscal 2019-20. In the months of lockdown, the gap may have widened further, but cash could be back in vogue when the situation normalises.
Economists caution that the underlying cause could be an alarming drop in demand -- something that's not good for economic growth.
Lenders had filed 1,251 cases to recover Rs 24,765.5 crore. Wilful defaulters are the entities that do not pay back money despite the ability to do so. Defaulters above Rs 1 crore were considered for this exercise.
The real estate sector had been going through a rough phase even before the COVID-19 crisis, marked by falling sales and piling up of inventories.
However, despite the surge, the average income of banking correspondents has taken a beating due to the low value of transactions.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
Unlike other health insurance policies, which mostly covers hospitalisation expenses alone, the specialised cover is likely to include the cost of treatment during quarantine and payment of cash for incidental expenses.
About 300 employees would come under the ambit of voluntary decision.
For states like West Bengal, Bihar, Odisha, Jharkhand and Uttar Pradesh, where migration is high, the return of workers could be as much an opportunity as a liability. All states have launched portals to register migrant workers; additional fields like nature of employment and remuneration in the past 2-3 years are being added to help in skill mapping.
The bonds were available for seven years. Since these were not traded in the secondary market, redemption took place at maturity.
'States have done a tremendous job of identifying health facilities for COVID-19 care and equipping them well.'
The incremental stress is mainly from sectors including power, infrastructure, constructions, hospitality, iron and steel, telecom, and realty.
For smaller MFIs, resuming operations is more difficult because they haven't got any fresh bank credit sanctioned from their lenders.
Scores of employees took to social media to express disappointment and said they were asked to resign over WhatsApp calls. On Twitter, some said they had been asked to resign by May 31 and that there was no severance package and salary would be paid only for May.
Going by the strict criteria set, only Maharashtra, Tamil Nadu, Gujarat, Karnataka, Uttar Pradesh, Andhra Pradesh, Madhya Pradesh, and Haryana qualify for such extra borrowing, as of now.
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