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mckinsey: Bank RoA at peak, need investment in tech, talent says McKinsey

Slower deposit growth, likely decline in fee income, rising operational expenses and increasing number of so called credit tested customers is likely to impact bank profitability in the next couple of years, consultancy firm McKinsey & Co said. It expects banks return on asset (RoA) to drop to 0.80% to 1% range in the next two years from 1.1% at the end of fiscal 2023.
Peeyush Dalmia Mckinsey Co Indian Banks Building Resilient Leadership Mckinsey Amp Co Digital Amp Analytics

PLI scheme: Cabinet secretary to review progress of PLI scheme in all 14 sectors on Thursday

Cabinet secretary Rajiv Gauba is expected to review the progress of the production linked incentive scheme (PLI) for all the 14 sectors on Thursday, sources said. The meeting assumed significance as the government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme.
New Delhi Piyush Goyal Rajiv Gauba Industry Minister Piyush Goyal Pli Scheme 14 Sectors

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