Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
The Reserve Bank may go for a final 25 basis points increase in the current rate hike cycle next week and a reduction would come in only by the end of third quarter of FY24, economists at Axis Bank said on Wednesday. As per media reports, RBI officials met economists on Tuesday, and the latter have suggested the central bank to go for a 25 basis points hike in key rates. Since May 2022, the RBI has hiked rates by 250 basis points, hurting borrowers and some are already concerned about loan tenors extending beyond their working lives as a result of the hikes.
Being driven to abandon Indian middle-class values, asks Ajit Balakrishnan.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
Bad loans continue to originate mainly from state-owned banks, where the top management's responsibility is not linked to career prospects nor has legal consequences, says Debashis Basu.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
Sidbi acquires Ahmedabad-based start-up at hefty premium; founders deny link to govt.
Companies don't have to be in the field to nudge people to return money they owe lenders.
According to the RBI proposal, companies can now take the ECB route for raising 10-year funds which is capped at five years now.
Do you aspire to purchase a house? Are you depending upon a bank or housing finance company to fund your needs? Is the same rate of interest charged by two different lenders confusing you? You are at the right place.
Business success often involves a combination of planning, implementation, and continuous learning, says rediffGURU Harsh Bharwani.
'If the Modi government does not waive farm loans, we guarantee to waive farm loans if voted to power in 2019'
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
The country's biggest bank SBI on Wednesday posted a 55 per cent rise in standalone net profit at Rs 6,504 crore for the first quarter of the current financial year, helped by decline in bad loans. The lender had reported a net profit of Rs 4,189.34 crore in the April-June quarter of 2020-21. State Bank of India's (SBI) standalone total income increased to Rs 77,347.17 crore in the first quarter of 2021-22 as against Rs 74,457.86 crore in the same period a year ago, according to regulatory filing.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
If customers did not see value in what we provide them at the price point at which we provide these, they would not have been there with us in such a competitive market, says HDFC deputy managing director Paresh Sukthankar.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
Eye business expansion, fulfil working capital requirements and making loan repayments
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The NDB will have an initial authorised capital of $100 billion.
In a disclosure to the markets, United Spirits has said it is awaiting information from UB Holdings for determining the treatment in the company's accounts of the loan together with applicable interest accrued until March 31, 2014.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
Today, the economy requires a certain amount of push not just from the monetary policy but also from its transmission: Das.
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India's largest private airline, which went bankrupt in 2019. Over the past three years, the airline went through an insolvency process under which JKC's resolution plan was approved by a committee of creditors (lenders) and the National Company Law Tribunal (NCLT) in October 2020 and June 2021, respectively. But this didn't mean an end to the problems.
PM extended some old schemes and finally said yes to one that was legally mandated for past 2 years.
'India's edtech and start-up story will be in danger.'
An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
India's largest edtech firm Byju's will fire 1,000 employees in a fresh round of layoffs across departments. With the latest round, total job cuts at the company have mounted to around 3,500. According to sources, fresh job cuts are an attempt by the company to improve its finances and work towards a path to profitability.
It takes a longer time to avail of these loans, owing to tight due-diligence process of banks.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
Emerging out of the ED grilling in Mumbai, Rohit Pawar denied any wrongdoing and asserted struggle was imminent in fight for ideology while declaring he wasn't scared.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
Progressive Party of Maldives (PPM) candidate Mohamed Muizzu, won the Maldivian presidential elections on Saturday, Al Jazeera reported citing local media.
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
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A discount on the product may make a credit card loan seem cheaper than a consumer durable loan. But missing a payment in case of the former will mean exorbitant charges.
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
