We are, therefore, setting up more branches in more tertiary terms, like tier 2 and tier 3 terms. Going forward, that is where the growth will come.
'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'
'We started affordable housing loans that has good traction and the books have grown to Rs 750 crore as of the end of last quarter.'
'Data-dependence means you can raise or drop rates. The present stance is only for raising rates.'
'...because it is still a legal tender.'
'If all goes well, we may well hit or even surpass the forecast growth rate.'
Sanskar Manojit Bagrecha sent us these incredible drawings to thank the people helping us fight the epidemic.
'We have a plan to plough back a 'This year in the first half we had profits of more than Rs 31,000 crore.' significant amount of profits this financial year.' 'We have seen this organic plough back of profit is one of best ways to support the equity of the bank.'
'At the policy's maturity, the total premium is refunded.'
'If through growth and serving the customer we become number one, we will be very happy and very proud.'
'We created war rooms -- from an IT perspective and also a customer war room -- to address any challenges that come up.'
Indian Bank expects recoveries to be more than slippages in this financial year, which will result in improved asset quality.
State-owned Punjab & Sind Bank is targeting salary accounts to boost the share of low-cost deposits. Swarup Saha, managing director and chief executive officer of the New Delhi-based lender, tells Manojit Saha that the bank may see gross non-performing assets (NPAs) fall below 8 per cent if there is resolution of the stressed assets.
'Citibank customers will migrate to the Axis Bank platform over 18 months.'
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
'India has formed tremendous resilience and still a strong growth.'
'We now understand things that we have to correct.'
'We have delivered a bitter medicine. It will take time to work.'
Rediff readers sent us these pictures drawn by their kids.
As stringent sanctions imposed by the European Union and US are crippling business and trade, desperate Russian oil companies are offering huge discounts to India, provided a payment mechanism to bypass the SWIFT ban is quickly approved by the government. According to sources familiar with the development, Russian oil firms are offering 25-27 per cent discount to the dated Brent crude prices. State-run Rosneft is one the biggest oil companies that supply crude to India.
'When we look at the quality of our retail loan book, the non-performing asset percentage is low.'
Financial inclusion has two parameters- access and use of banking services.
Financial inclusion has two aspects- access and use of banking services.
Bandhan has a strong presence in India's under-banked eastern and northeastern regions.
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
Stuard Milne, CEO, HSBC India talks about the bank's gameplan in the country.
As their non-performing assets have risen sharply even as loans have remained stagnant, RBI steps in with stringent loan-management measures.
Here's a look at hits and misses at the box office this week.
RBI Governor D Subbarao says banks' response to RBI's monetary intervention is asymmetric.
Thomas Mathew T, managing director, tells Manojit Saha and M Saraswathy about the LIC's strategy and growth plans.
Four days ahead of RBI's monetary policy review, SBI Chairman Pratip Chaudhuri says a cut of one percentage point in CRR will allow the bank to lower lending rates 20 basis points.
"Our asset quality is sound and not a source of concern at this point. Right now, the concern is how to grow faster", says Ravneet Gill
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
In an online chat Chander Madan, CEO of eAge Software Services addressed reader queries on how to improve English language skills.
Interview with the Governor of Reserve Bank of India.
CRR cut does not rule out open market operations.
If numbers change, there will be scope for more rate cuts.
'While bank non-performing assets will rise, there is no systemic risk.'
It is clear now that our policy to treat FCCBs as debt upfront turned out to be the right approach.
