Market Borrowing Arm Of Indian Railways Sees Profit Rise By Nearly 16 Per Cent To Rs 2934 crore
by Arun Kumar Das - Feb 15, 2021 04:54 AM
Train passing by (Flickr)
Snapshot
The company has been able to raise funds at the most competitive rates and terms both from the domestic and overseas financial markets which has helped to keep its cost of borrowing low.
Indian Railway Finance Corporation Limited, the dedicated market borrowing arm of the Indian Railways, has posted profit growth of 15.65 per cent to Rs 2934 crore for the quarter ended 31 December, 2020.
The company has reported a net profit of Rs 2,537 crore for the corresponding nine months in the previous year.
Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
This product is a monthly auto renewal product.
Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
February 15, 2021
Seen as safe bet in terms of both growth and asset quality
Gold loans stood out in banks’ loan portfolio in the first nine months of the current financial year, both in terms of growth and asset quality.
Banks aggressively expanded their loan against pledge of gold ornaments and jewellery (jewel loans) portfolio in the wake of the Covid-19 pandemic.
During the first nine months of FY2021, banks preferred to lend either against highly liquid collateral such as gold or Government guarantee as they feared the economic downturn would affect customers’ ability to repay loans.
State Bank of India’s (SBI) personal gold loan book jumped four times in six months (up to December-end 2020) to stand at ₹17,492 crore.
Read more about Decoded: What are pro forma NPAs and how does that impact borrowers? on Business Standard. An analysis of results declared by listed banks so far shows that the NPA figures shown in the bank income statements are lower than the ones earmarked on pro forma basis