Rs 30,000 crore via new agri cess to improve states APMC infra: FM Sitharaman
Amid ongoing agitation by farmers demanding the repeal of three contentious farm laws, the finance minister informed that not a single APMC has been shut in any state
BusinessToday.In | February 13, 2021 | Updated 22:32 IST
FM Sitharaman spotlighted the Centre s efforts to protect small businesses during the coronavirus outbreak
Finance Minister Nirmala Sitharaman on Saturday specified that the proposed Agriculture Infrastructure and Development Cess will be used to improve mandi infrastructure in the country. Replying to a general debate on Budget 2021 in Lok Sabha, the finance minister clarified that the proposal to collect Rs 30,000 crore through the new agri cess will go to states to upgrade the APMC (Agricultural Produce Market Committee) infra.
Canara Bank has disbursed loans to seven micro units that have only current account with the bank.J. James, president of Tamil Nadu Association of Cottage and Tiny Enterprises, said this was a major d
Of the total loans of Rs 1.4 lakh crore extended by banks up to January 25, 2021, HDFC Bank has disbursed Rs 23,504. This is nearly 17% of the loans sanctioned. SBI, with disbursals of Rs 18,700, has a market share of 13.3%. According to banking analysts, this demonstrates HDFC Banks capabilities in lending to small businesses.
Broker s call: City Union Bank (Buy)
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CMP: ₹171.75
City Union Bank Ltd (CUB), the oldest private sector bank in India, is a mid-sized commercial bank headquartered in Tamil Nadu, having a network of 700 branches and 1,780 ATMs spread across the country and a loan book size of ₹35,437 crore.
Total Business grew by 8 per cent y-o-y with advances growing at 8 per cent supported by strong growth in ECLGS (Emergency Credit Line Guarantee Scheme) and gold loan.
Net interest income grew 14 per cent with NIM improving by 20 bps y-o-y and 4 bps q-o-q. CASA ratio improved to 27.49 per cent (25.70 per cent during Q2-FY21) with savings deposit growing at 16.5 per cent q-o-q and demand deposit at 0.8 per cent.
Micro, small and medium enterprises (MSMEs) could turn out to be the next stress area for banks, with many lenders and analysts worried about loans given under the Emergency Credit Line Guarantee Sche