At 21% recovery, IBC has performed worse than UPA-era debt recovery mechanisms panned for inefficiencies. The idea of a bad bank is also likely to fail if political interference and poor bank governance continue
Non-banking finance company Sundaram Finance Ltd (SFL) has registered a 45 per cent rise in net profit at Rs 242 crore for the quarter ended December 31, 2020, from Rs 167 crore in the corresponding period last year. Disbursements during the quarter under review rose 8.5 per cent to Rs 4,307 crore, from Rs 3,968 crore a year ago. Net income for Q3FY21 went up by around seven per cent to Rs 1,045 crore from Rs 976 crore in the same period last year. Assets under Management stood at Rs 31,226 crore as on December 31, 2020 compared to Rs 30,502 crore a year ago. Net NPA (Stage III) stood at 1.59 per cent (2.79 per cent) as on December 31, 2020.
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CHARLES TOWN, W.Va., Feb. 3, 2021 /PRNewswire/ Potomac Bancshares, Inc. (the Company ) (OTC: PTBS), the one bank holding Company for Bank of Charles Town (BCT), for the quarter ended December 31, 2020 earned $1.142 million or $0.28 per share compared to $0.859 million or $0.21 per share for the quarter ended December 31, 2019, an increase of 33.3%. Net income for the year ended December 31, 2020 was $3.785 million or $0.92 per share compared to $3.213 million or $0.78 per share for the same period in 2019, an increase of 17.9%. The resiliency of the BCT team shined as we did not allow historic low interest rates, economic uncertainty or our pandemic response hinder our ability to post record results for 2020, stated Alice P. Frazier, President and CEO. Core loan and deposit growth through new banking relationships, aggressive decreases in deposit rates and expense management all contributed to our 17.9% growth in earnings despite
The government must focus on implementing the disinvestment and privatisation programme to generate revenues.
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Union Finance Minister Nirmala Sitharaman speaks during the post-budget press conference, at National Media Centre in New Delhi. (Photo | Parveen Negi, EPS)
The Union Budget presented in the wake of the pandemic led economic contraction lays out many proposals to strengthen the current V shaped recovery and sets India on the path to high growth.
We believe that the Budget has met the twin challenges of boosting growth while laying down a path to fiscal consolidation. It prioritises growth in the immediate term while taking a medium-term view of fiscal consolidation. It has also announced some path-breaking reforms.
Exclusive | Govt won t own or fund Bad Bank’, loans worth Rs 2.25 lakh crore to be shifted to new entity
Stressed assets of Rs 500 crore and above will come under the proposed Bad Bank in the initial phase. Government has initiated consultation with RBI, per top bureaucrats. Lakshman Roy February 02, 2021 / 01:56 PM IST
The government is preparing to bring stressed assets worth Rs 2.25 lakh crore under the proposed ‘Bad Bank’. The entity which will be entirely funded and managed by commercial banks, said two top bureaucrats in an exclusive interaction on February 2.
As per the plan, bad loans above Rs 500 crore will be brought under the entity from 68-70 accounts, they said. The entity will be floated soon.