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According to the RBI, the primary regulatory objective of the circular -- issued on June 8, 2023 -- is to enable multiple avenues to lenders to recover the money in default without much delay.
Total income during the quarter increased by 0.5% year-on-year (YoY) to Rs 6,962.59 crore. Net Interest Income (NII) jumped 37.5% to Rs 3240 crore in Q4 FY21 from Rs 2356 crore in Q4 FY20. Net Interest Margin (NIM) improved 134 bps to 5.14% as on 31 March 2021 as compared to 3.80% as on 31 March 2020. Operating Profit was at Rs 2879 crore in the fourth quarter, up by 53.6% from Rs 1874 crore reported in the same period last year. Provisions & Contingencies increased by 55.1% to Rs 2457 crore in Q4 FY21 from Rs 1584 crore in Q4 FY20. On the asset quality side, gross non-performing assets (...