Collection efficiency for the bank has been holding well, although the moratorium pool, which is yet to make any payments, is hovering ~3%. The management believes this pool is vulnerable and expects the upper range of slippages to be ~3%.
Indian Bank had reported a net profit of Rs 412 crore for the second quarter of FY21 compared to net loss of Rs 1,755 crore in the corresponding quarter of the last fiscal year, mainly on account of increase of non-interest income by 29%.
The company has made the process of IPO application completely digital and simple for retail investors to apply for public offers, and will continue to add new tech-savvy features for enhanced user experience, it added.
Overall, 58% of Americans said in a Gallup poll here that ended Nov. 1 that they would get vaccinated, up from 50% who were willing in a September poll. Forty-two percent said they would be unwilling to get a vaccine, citing reasons such as the rushed development timeline and concerns about safety.