Covid-19: Lockdown extended till May 17
The extension, which takes the total day-count of the lockdown to 54, will add to the challenges that the economy was already facing before Covid-19 took the shape of a pandemic.
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Gold demand could drop by 30%: ICC
Industry body Indian Chamber of Commerce (ICC) seeks further relief from the government over the Covid-19 impact on the gem and jewellery sector.
Delinquencies across retail loans increase: CIBIL
The increase in delinquency rates was not uniform; It was most pronounced for loans against property, home loans, and credit cards. Overall delinquencies improved for auto loans.
A tale of India’s loss-heavy banks
Data reveals that the loss-making and NPA-heavy public sector banks have serious efficiency issues.
Is RBL Bank going YES Bank’s way? Not really
RBL Bank’s NPAs are rising and the stock is going downhill, but there are enough reasons to believe it is unlikely to end up like YES Bank.
Pvt sector leaders in PSBs: End of an experiment
The government’s experiment in hiring talent from the private sector to head public sector banks has ended with former Citibanker P.S. Jayakumar leaving Bank of Baroda.
Finance minister holds review meeting with bankers
FM Nirmala Sitharaman will hold similar meetings with representatives from MSMEs, auto, industry associations, financial market stakeholders, and others to address sector-specific issues.
Top three public sector banks post cheery Q1 results
State-owned lenders SBI, BoB, and PNB have all posted profits for the quarter ended June 30. Recoveries have been flat but cutting interest rates on deposits should help increase their margins.
Axis Bank’s 95% profit growth is lacklustre
The private lender’s profit fell 9% over the previous quarter. Its provisions grew by 40.7% and 14.3% on quarterly and annual basis, respectively.
Short-term relief for NBFCs
The government’s partial credit guarantee on asset purchases does not address investors’ long-term concerns about the sector’s exposure to stressed real estate: Fitch Ratings.
