While payment rejection rates were back to January levels, they are expected to rise further in May, lenders told ET. Collection ratios will be hit by another 5-10% in the month as fresh Covid-19 infections continue to ravage the country.While payment rejection rates were back to January levels, they are expected to rise further in May, lenders told ET. Collection ratios will be hit by another 5-10% in the month as fresh Covid-19 infections continue to ravage the country.
At the same time the bank is still pursuing its objective of a majority owned asset reconstruction company (ARC) and is waiting for the new set of guidelines from the Reserve Bank of India (RBI) said CEO Prashant Kumar said. RBI has refused Yes Bank permission to hold a majority stake in an ARC citing conflict of interest.At the same time the bank is still pursuing its objective of a majority owned asset reconstruction company (ARC) and is waiting for the new set of guidelines from the Reserve Bank of India (RBI) said CEO Prashant Kumar said. RBI has refused Yes Bank permission to hold a majority stake in an ARC citing conflict of interest.
Speaking for the first time about the journey since the RBI and the government moved in to bailout the lender seeing an exodus of deposits with a Rs 10,000-crore rescue act led by SBI, Kumar acknowledged that the thread was very slender and the timing was very apt.Speaking for the first time about the journey since the RBI and the government moved in to bailout the lender seeing an exodus of deposits with a Rs 10,000-crore rescue act led by SBI, Kumar acknowledged that the thread was very slender and the timing was very apt.
For the American alternate investment management giant with close to USD 620 billion in AUMs globally, India is its most profitable market in terms of returns -- its seed investment of around USD 25 billion is worth over USD 50 billion at present, according to co-founder, chairman and chief executive Stephen A Schwarzman.