Banks continue to insist, though, that the pick-up in collections is going to be sustainable. State Bank of India, which last week said that its collection efficiency stood at 97.5%, expects this level to hold.
Despite little clarity on asset quality, analysts are by and large satisfied with the kind of provisioning. “There are some grey areas, but banks have made provisions and investors will be willing to forgive them,” an ana
Recently, State Bank of India (SBI) chairman Dinesh Khara said that the bank is currently seeing credit growing in the range of 6-7%, while pointing to the fact that much of corporate demand for debt is moving to the markets.
The letter dated October 7, also alleges fund diversion by Kindo to other entities named Diya Dairy & Agroprocessors, Kshamta Foundation, Regional Rural Development Centre, DK Enterprises and Utkal Dairy, among others.
The Reserve Bank of India (RBI) on Friday expanded on its liquidity measures to make the targeted long term repo operations (TLTRO) available on tap and extend the use of money raised under this window to loans given by banks
Payment industry executives said that the growing use of these modes is a result of cashbacks and other rewards being offered with these modes at a time when consumers are hamstrung by salary cuts and job losses.