News

Despite economic slowdown, Tripura Gramin Bank posts profit for 12th straight year In spite of the Covid-induced economic slowdown, the Tripura Gramin Bank (TGB), one of the leading banks among the 43 Regional Rural Banks (RRBs) in India, registered a profit for the 12th straight year with a net gain of Rs 3.62 crore in the last fiscal (2022-23) and doing over Rs 11,271.92 crore business, a top bank official said here on Thursday. The TGB Chairman, Satyendra Singh said that as on March, 2023, his bank registered an operating profit of Rs 23.62 crore with a net profit of ...
Despite economic slowdown, Tripura Gramin Bank posts profit for 12th straight year
Despite economic slowdown, Tripura Gramin Bank posts profit for 12th straight year
Source: IANS
25/05/2023 4:07:28 PM
Indian banks` gross NPAs likely to decline 90 bps to less than 5% in FY23: Assocham-Crisil study A joint study carried out by Assocham-Crisil Rating has unveiled that gross Non-Performing Assets (NPAs) of Indian banks are expected to decline 90 basis points (bps) to less than five per cent in FY23 and hit a decadal low of sub-four per cent by March 31, 2024. The study attributed the decline in gross NPAs to the post-Covid economic recovery and higher credit growth. It said the biggest improvement would be in the corporate loan segment, where gross NPAs are seen falling below two per c...
Indian banks` gross NPAs likely to decline 90 bps to less than 5% in FY23: Assocham-Crisil study
Indian banks` gross NPAs likely to decline 90 bps to less than 5% in FY23: Assocham-Crisil study
Source: Accord Fintech
10/03/2023 11:26:43 AM
Indian PSBs well positioned to provide credit in the range of USD 60 bn to USD 100 bn According to Lotusdew Wealth, a smallcase manager, the public sector banks have the liquidity capacity to provide credit value at USD 100 billion. As of March 2022, cash and balances with RBI for Public Sector Banks are at USD 70 billion (Rs. 6.22 lakh cr.) when compared to USD 60 billion (Rs. 5.4 lakh cr.) as of March 2021. For Private Banks, cash and balances with RBI stood at USD 45 billion (Rs. 3.93 lakh cr. ) vs USD 35 billion (Rs. 2.9 lakh cr.) (YoY). This indicates that cash and balanc...
Indian PSBs well positioned to provide credit in the range of USD 60 bn to USD 100 bn
Indian PSBs well positioned to provide credit in the range of USD 60 bn to USD 100 bn
Source: PR Agency
21/02/2023 3:01:08 PM
HDFC Bank, India`s biggest private lender, says net profit jumps 18.5% HDFC Bank, India's largest private lender, on Saturday reported a 18.5% jump in net profit for the October-December quarter, aided by higher top-line and healthy loan growth. Net profit for the quarter was 122.59 billion rupees ($1.51 billion), up from 103.42 billion rupees in the same quarter a year earlier. That was above analysts' forecast of 118.33 billion rupees, according to Refinitiv IBES data. Net interest income, the difference between interest earned and paid, rose 24....
HDFC Bank, India`s biggest private lender, says net profit jumps 18.5%
HDFC Bank, India`s biggest private lender, says net profit jumps 18.5%
Source: Reuters
14/01/2023 2:51:03 PM
Banks` gross NPA ratio falls to 7-year low of 5%: RBI The Reserve Bank of India (RBI), in the 26th issue of the Financial Stability Report (FSR) has said that banks' gross non-performing assets (NPA) ratio has fallen to a seven-year low of 5 per cent and the banking system remains sound and well-capitalised. RBI also said the global economy is facing formidable headwinds with recessionary risks looming large. It pointed out that the interplay of multiple shocks has resulted in tightened financial conditions and heightened volatility in fi...
Banks` gross NPA ratio falls to 7-year low of 5%: RBI
Banks` gross NPA ratio falls to 7-year low of 5%: RBI
Source: Accord Fintech
30/12/2022 12:24:19 PM
India persistent core inflation may exert pressure upward pressure on CPI India's consumer price index (CPI) inflation has moderated, but the persistence and broadening of core inflation may continue to exert upward pressure on the headline number going forward, the Financial Stability Report released on Thursday said. The Financial Stability Report includes contributions from all financial sector regulators in the country and is published bi-annually by the RBI on its website. India's headline retail inflation dropped to a 11-month low of 5.88% in No...
India persistent core inflation may exert pressure upward pressure on CPI
India persistent core inflation may exert pressure upward pressure on CPI
Source: Reuters
30/12/2022 9:21:28 AM
Fund infusion, asset quality review measures helped script turnaround story The profits recorded by public sector banks (PSBs) in the September quarter of the current financial year seem to resemble the box office figures of a Hindi blockbuster film. To recap, all the 12 PSBs combined, declared a net profit of Rs 25,685 crore in the quarter ended September 30 and the aggregate net profit for the first half of 2022-23 was Rs 40,991 crore. This was up by 50 per cent and 31.6 per cent, respectively, on a year-on-year basis. Let us now analyse some of the key reaso...
Fund infusion, asset quality review measures helped script turnaround story
Fund infusion, asset quality review measures helped script turnaround story
Source: IANS
19/11/2022 1:49:39 PM
Crunching Numbers: 12 PSBs end September quarter notching up Rs 25K+ cr net profit It looks like sunshine days for the Indian banking sector after having struggled with a seemingly never-ending gloom of rising non-performing assets (NPAs) and the Covid-19 pandemic, which hit their profits hard. The September quarter results of public sector banks (PSBs) seem to have brought cheer for the Indian banking sector with all the major 12 PSBs recording net profits worth Rs 25,685 crore during the period under review. On September 7, Finance Minister Nirmala Sitharaman had la...
Crunching Numbers: 12 PSBs end September quarter notching up Rs 25K+ cr net profit
Crunching Numbers: 12 PSBs end September quarter notching up Rs 25K+ cr net profit
Source: IANS
19/11/2022 1:43:52 PM
Happy days now, but challenging times ahead for public sector banks Arbitrage between the lending and deposit rates, higher credit demand, and lower loan provisions resulted in public sector banks (PSB) posting handsome profits during Q2FY23 and H1FY23, say experts. However, the happy times for the government banks may not continue for much long as competition will soon emerge for deposits, and loans, which, in turn, would increase the cost of funds and reduce the margins, the experts added. Further maintaining good employee relations by the PSB managem...
Happy days now, but challenging times ahead for public sector banks
Happy days now, but challenging times ahead for public sector banks
Source: IANS
19/11/2022 12:17:19 PM
Gangbuster PSB profits not likely to set off divestment process: Experts The impressive profits posted by public sector banks (PSBs) during Q2FY23 and H1FY23 and indications of good times ahead may not accelerate government divestment, experts contend. On November 7, Finance Minister Nirmala Sitharaman said 12 PSBs registered handsome net profits during Q2FY23 and also H1FY23. "The continuous efforts of our govt for reducing the NPAs & further strengthening the health of PSBs are now showing tangible results. All 12 PSBs declared net profit of Rs ...
Gangbuster PSB profits not likely to set off divestment process: Experts
Gangbuster PSB profits not likely to set off divestment process: Experts
Source: IANS
19/11/2022 12:08:17 PM
India`s SBI sees loan growth staying strong after record profit State Bank of India (SBI), the country's largest lender, expects credit growth to remain in double-digits while it steps up efforts to attract more deposits, where it sees growth in line with the sector. The bank reported a 74% surge in quarterly net profit on Saturday, driven by higher loan growth and improving asset quality. Net profit rose to a record 132.64 billion Indian rupees($1.62 billion) in June-September, beating analysts' forecast of 105.30 billion rupees, according to ...
India`s SBI sees loan growth staying strong after record profit
India`s SBI sees loan growth staying strong after record profit
Source: Reuters
5/11/2022 5:13:40 PM
Central Bank of India trades jubilantly as RBI removes bank from PCA framework Central Bank of India is currently trading at Rs. 21.80, up by 1.45 points or 7.13% from its previous closing of Rs. 20.35 on the BSE. The scrip opened at Rs. 23.50 and has touched a high and low of Rs. 23.50 and Rs. 21.55 respectively. So far 6014649 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 25.15 on 30-Sep-2021 and a 52 week low of Rs. 16.10 on 16-Jun-2022. Last one week high and low of the scrip stood ...
Central Bank of India trades jubilantly as RBI removes bank from PCA framework
Central Bank of India trades jubilantly as RBI removes bank from PCA framework
Source: Accord Fintech
21/09/2022 2:51:54 PM
Banks gross NPA to improve to 4% by next fiscal: CRISIL The gross non-performing assets (NPA) of the banks is expected to improved 90 basis points on-year to 5 per cent this fiscal year and another 100 basis points to a decadal low of 4 per cent by next fiscal, ratings agency CRISIL said in a release. This was on the back of benefits from the proposed sale of NPAs to the National Asset Reconstruction Company Ltd (NARCL), recovery in economy post pandemic and higher credit growth. The release said that not all segments will perform equally we...
Banks gross NPA to improve to 4% by next fiscal: CRISIL
Banks gross NPA to improve to 4% by next fiscal: CRISIL
Source: IANS
21/09/2022 1:15:34 PM
PFC gains as its JV planning to rope in technical investor partners through competitive bidding Power Finance Corporation is currently trading at Rs. 120.90, up by 0.75 points or 0.62% from its previous closing of Rs. 120.15 on the BSE. The scrip opened at Rs. 120.20 and has touched a high and low of Rs. 121.35 and Rs. 120.15 respectively. So far 19564 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 153.75 on 18-Oct-2021 and a 52 week low of Rs. 97.15 on 20-Jun-2022. Last one week high and low of the scri...
PFC gains as its JV planning to rope in technical investor partners through competitive bidding
PFC gains as its JV planning to rope in technical investor partners through competitive bidding
Source: Accord Fintech
17/08/2022 10:13:06 AM
The Indian growth story It is widely believed that the last half a decade has been challenging for India. However, at the same time, it is also interesting to note that the phase has seen much more structured and meaningful reform taking place than in the past. Economic disarray, stagnation, sluggish investment and bureaucratic red-tapism have all been addressed adequately over the last few years. Though a great challenge in a country as diverse as India, the necessary structurally forms were implemented 2017 onw...
The Indian growth story
The Indian growth story
Source: IANS
14/06/2022 2:59:28 PM
Banks' improved NPA recovery, declined loan provisioning to continue in 2022: ICRA The recent improvement in recovery of the non-performing assets and decline in provisioning of loans in the banking sector are expected to improve further in the coming year, rating agency ICRA said. Accordingly, the improvement in such parameters has helped realise better profitability for the banks, the rating agency said. However, subdued credit growth and surplus liquidity continue to be a drag on the profit margins for the sector. "The banking sector navigated well during 2...
Banks' improved NPA recovery, declined loan provisioning to continue in 2022: ICRA
Banks' improved NPA recovery, declined loan provisioning to continue in 2022: ICRA
Source: IANS
25/12/2021 4:07:13 PM
RBI's recent norms may spike NPAs for NBFCs, says ICRA The Reserve Bank of India's recent notification on income recognition, asset classification, and provisioning norms for banks, non-banking financial institutions, and all-India financial institutions may lead to a sharp spike in the non-performing assets (NPAs) for non-banking finance companies, ICRA said. On November 12, the central bank had said that classification of special mention accounts and non-performing accounts should be done on a day-end position basis and upgraded from an ...
RBI's recent norms may spike NPAs for NBFCs, says ICRA
RBI's recent norms may spike NPAs for NBFCs, says ICRA
Source: IANS
28/11/2021 5:27:00 PM
Gross NPAs of banks may rise to 8-9% in FY22: Crisil Rating agency Crisil in its latest report has said that gross non-performing assets (NPAs) of Indian banks may rise to 8-9 percent in the current financial year (FY22) but this will be much below the FY18 levels when NPAs reached a peak of 11.2 percent. However, it said the Covid-19 relief measures such as the restructuring dispensation, and the Emergency Credit Line Guarantee Scheme (ECLGS) will help limit the rise in banks gross NPAs. According to the agency, with around 2 percent of ban...
Gross NPAs of banks may rise to 8-9% in FY22: Crisil
Gross NPAs of banks may rise to 8-9% in FY22: Crisil
Source: Accord Fintech
20/10/2021 10:31:49 AM
IFIN to sell 62 NPA accounts worth Rs 4.3K crore IL&FS Financial Services (IFIN) has put its non performing asset (NPA) portfolio of approx Rs 4,300 crore up for sale as part of plan to bring down overall group level debt. The sale of NPA would be done under Swiss Challenge with the new board already having received a binding bid. Under this method of bidding, the seller who have already received a bid, publishes the bid and invite third parties to match or better it. The process also allows the entity which submitted the first bi...
IFIN to sell 62 NPA accounts worth Rs 4.3K crore
IFIN to sell 62 NPA accounts worth Rs 4.3K crore
Source: IANS
27/09/2021 12:52:45 PM
2020 will be best year for NPA recovery: SBI chairman Rajnish Kumar Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia  Download Telegram App before Joining the Channel MUMBAI : The government will have to address sector-specific issues in the budget, besides announcing other fiscal measures, said State Bank of India chairman Rajnish Kumar. In an interview, Kumar added that the government needs to take specific steps ...
2020 will be best year for NPA recovery: SBI chairman Rajnish Kumar
2020 will be best year for NPA recovery: SBI chairman Rajnish Kumar
Source: Live Mint
2/01/2020 10:18:07 AM