Under the SHWAS (Sidbi assistance to Healthcare sector in War Against the Second wave of Covid) scheme, MSMEs engaged in manufacturing of oxygen cylinders, oxy-generators, oxygen concentrators, liquid oxygen or providing services in transportation, storage, refilling or supply of these items will be eligible for low-cost credit.Under the SHWAS (Sidbi assistance to Healthcare sector in War Against the Second wave of Covid) scheme, MSMEs engaged in manufacturing of oxygen cylinders, oxy-generators, oxygen concentrators, liquid oxygen or providing services in transportation, storage, refilling or supply of these items will be eligible for low-cost credit.
The pandemic led contraction in economic activity led to a sharp slowdown in credit demand Non-food bank credit growth rose by 4.9 per cent in March 2021, lowest in more than five decades as compared to 6.7 per cent in March 2020. Loans to large industries contracted by 0.8 per cent, while loans to micro and small enterprises rose by a mere 0.5 per cent.
Applications are invited from eligible candidates for appointment to the office of chairperson in Irdai, a notification issued by the Department of Financial Services said.The pandemic led contraction in economic activity led to a sharp slowdown in credit demand Non-food bank credit growth rose by 4.9 per cent in March 2021, lowest in more than five decades as compared to 6.7 per cent in March 2020. Loans to large industries contracted by 0.8 per cent, while loans to micro and small enterprises rose by a mere 0.5 per cent.
CEO Sumant Kathpalia said the bank continues to remain cautious despite an improvement in business sentiment, higher collection ratios and fee income which is back to pre Covid levels. "It is very difficult to give any forecast because of the uncertainties due to Covid. We have navigated well in a turbulent year. Our collections are healthy. The focus now is on how Covid plays out," Kathpalia said.
The lender said it will re-double its efforts on its business verticals that include Corporate Banking, Retail Banking, Private Banking, Government and Institutional Banking, Retail assets and Payments. In addition, the lender is increasing its focus on Commercial Banking (MSME vertical).CEO Sumant Kathpalia said the bank continues to remain cautious despite an improvement in business sentiment, higher collection ratios and fee income which is back to pre Covid levels. "It is very difficult to give any forecast because of the uncertainties due to Covid. We have navigated well in a turbulent year. Our collections are healthy. The focus now is on how Covid plays out," Kathpalia said.The lender said it will re-double its efforts on its business verticals that include Corporate Banking, Retail Banking, Private Banking, Government and Institutional Banking, Retail assets and Payments. In addition, the lender is increasing its focus on Commercial Banking (MSME vertical).
CEO Prashant Kumar said he expects the economy to recover faster this fiscal amidst the second wave of Covid led by faster vaccinations which will help Yes Bank also step up on lending. This even as fresh slippages of Rs 12,000 crore which were under wraps due to the Supreme Court (SC) ordered moratorium on NPAs forced the bank to provide more and slip to a loss after a reporting a profit in the quarter ended December 2020.CEO Prashant Kumar said he expects the economy to recover faster this fiscal amidst the second wave of Covid led by faster vaccinations which will help Yes Bank also step up on lending. This even as fresh slippages of Rs 12,000 crore which were under wraps due to the Supreme Court (SC) ordered moratorium on NPAs forced the bank to provide more and slip to a loss after a reporting a profit in the quarter ended December 2020.
The company is in receipt of approval from the Insurance Regulatory Development Authority of India for the appointment of Balasubramanian, KLI said in a regulatory filing.
The move should check delay in discharging patients, which in turn would make hospital beds available to new patients at a time when a second wave of coronavirus has crippled healthcare system across the country.
He said once the limit of digital wallets increases and if the currency gets digitalised with a much more direct relationship between the currency issuer the Reserve Bank of India (RBI) and the people, the banks will formally get squeezed out of the payments space.He said once the limit of digital wallets increases and if the currency gets digitalised with a much more direct relationship between the currency issuer the Reserve Bank of India (RBI) and the people, the banks will formally get squeezed out of the payments space.
The service, christened 'merchant stack', is targeted at the over 2 crore retail merchants in the country to render banking services digitally, the second largest private sector lender said in a statement.
The deal is yet another attempt by the Sameer Gehlaut-led Indiabulls Group to shed capital-intensive assets as it moves to a new business model based on fees and trailing income.
It is to be noted that the Ministry of Corporate Affairs last week permitted makeshift hospitals and temporary COVID care facilities to be treated as an eligible Corporate Social Responsibility (CSR) activity.
The comments come at a time when localised lockdowns are being announced across many pockets of the country in view of the rising COVID infections, which are breaching the 3 lakh mark daily and also resulting in over 2,000 officially counted deaths.The comments come at a time when localised lockdowns are being announced across many pockets of the country in view of the rising COVID infections, which are breaching the 3 lakh mark daily and also resulting in over 2,000 officially counted deaths.
Executive director Anup Bagchi said the bank is targeting income from "fee, credit and savings due to use of technology" by offering these services to these large and small establishments spread across the country.Executive director Anup Bagchi said the bank is targeting income from "fee, credit and savings due to use of technology" by offering these services to these large and small establishments spread across the country.
In a letter to finance minister Nirmala Sitharaman, Sa-Dhan has suggested extension of the government's partial credit guarantee scheme for bank loans on micro lenders to the extent of Rs 10,000 crore with Rs 2,000 crore being earmarked for small and medium MFIs.In a letter to finance minister Nirmala Sitharaman, Sa-Dhan has suggested extension of the government's partial credit guarantee scheme for bank loans on micro lenders to the extent of Rs 10,000 crore with Rs 2,000 crore being earmarked for small and medium MFIs.
The appointment will be subject to the approval of the Reserve Bank of India (RBI) and shareholders of the bank, the filing added.
The association has identified 102 corporate bad loans, totalling to Rs 2 lakh crore, where the amount outstanding in each is over Rs 500 crore. They include loans in a variety of industries. These have been languishing in the books of banks for years with many admitted under the insolvency process.The association has identified 102 corporate bad loans, totalling to Rs 2 lakh crore, where the amount outstanding in each is over Rs 500 crore. They include loans in a variety of industries. These have been languishing in the books of banks for years with many admitted under the insolvency process.
In a regulatory filing, Axis Bank said a letter was placed for the consideration of the board at its meeting held on April 28, 2021. "The board at the meeting has considered and approved the said request received from NIACL to reclassify it to public category from promoter category" .In a regulatory filing, Axis Bank said a letter was placed for the consideration of the board at its meeting held on April 28, 2021. "The board at the meeting has considered and approved the said request received from NIACL to reclassify it to public category from promoter category" .
Several FIs and banks, including the Canara Bank, the Bank of Baroda, the UCO Bank and the Kotak Mahindra Bank had filed applications in the top court seeking a recall of the 2015 judgment in the Jayantilal N Mistry case, saying the verdict had far-reaching consequences and moreover, they were directly and substantially affected by it.Several FIs and banks, including the Canara Bank, the Bank of Baroda, the UCO Bank and the Kotak Mahindra Bank had filed applications in the top court seeking a recall of the 2015 judgment in the Jayantilal N Mistry case, saying the verdict had far-reaching consequences and moreover, they were directly and substantially affected by it.
According to Shriram Transport Finance managing director and CEO Umesh Revankar, the non-bank lenders may see some temporary delay in loan repayments by borrowers in April or May as customers will like to preserve cash but that will not lead to a very significant jump in non-performing assets (NPAs).According to Shriram Transport Finance managing director and CEO Umesh Revankar, the non-bank lenders may see some temporary delay in loan repayments by borrowers in April or May as customers will like to preserve cash but that will not lead to a very significant jump in non-performing assets (NPAs).
Credit Default Swaps (CDS), an insurance against default, tied to ICICI Bank and State Bank of India are now at elevated levels that were last seen during the peak of the first wave of coronavirus. The CDS rates seem to discount the market-beating earnings of private lenders for the fourth quarter.
"We feel that there is a secular opportunity on infrastructure. The largest component of stress in the banking system is in infrastructure and it a large opportunity from a special situations perspective. We have gone back to our investors with this proporsition to put a significant amount of capital. We are getting a good response and if all goes well we will shoot for a $800 million fund," Sriniwasan said.Credit Default Swaps (CDS), an insurance against default, tied to ICICI Bank and State Bank of India are now at elevated levels that were last seen during the peak of the first wave of coronavirus. The CDS rates seem to discount the market-beating earnings of private lenders for the fourth quarter."We feel that there is a secular opportunity on infrastructure. The largest component of stress in the banking system is in infrastructure and it a large opportunity from a special situations perspective. We have gone back to our investors with this proporsition to put a significant amount of capital. We are getting a good response and if all goes well we will shoot for a $800 million fund," Sriniwasan said.
On April 19, RBI had set up a committee to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling them to meet the growing requirements.On April 19, RBI had set up a committee to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling them to meet the growing requirements.
