Indian Lenders

The banking sector is likely to post good numbers in the fourth quarter ended March 2023, and the total profit of public sector banks (PSBs) is expected to touch a record high of Rs 1 lakh crore in FY23, aided by the decline in bad loans and healthy loan growth. According to a senior bank official, the country's biggest lender State Bank of India (SBI) expected to earn a profit above Rs 40,000 crore in the financial year ended March 2023. In the first nine months of the previous financial year, the bank's bottomline stood at Rs 33,538 crore, higher than Rs 31,675.98 crore recorded in FY22. Similarly, other public sector lenders are also likely to report encouraging numbers, helped by a decline in non-performing assets (NPAs), moderation in slippages, double-digit credit growth and rising interest rate. For the first nine months of 2022-23, all 12 PSBs have earned a cumulative profit of Rs 70,166 crore compared to Rs 48,983 crore in the year-ago period, an increase of 43 per cent. "

Once an account is settled with the highest bidder paying their bid amount, then it frees part of bank's locked fund in an account which could be used for lending purposes

Currently, most large lenders offer deposit rates between 6.75% and 7.30% for 1-2 year deposits and between 5.75% and 7.25% for longer-term deposits

Reliance Capital has a consolidated debt of about Rs 40,000 crore

Public sector lenders would end up issuing around Rs 13,500 cr worth of such bonds in coming weeks

Yet to receive notice from NCLT, firm says; HFDC, IndusInd Bank had filed petitions earlier

Analysts see risk of attrition due to the shift in culture its implementation

In March 2022, Axis Bank said it would purchase Citi's retail business in a transaction worth Rs 12,235 crore

In a filing with BSE, the company said improved macro environment and sell-down capabilities were driving faster book reduction

These measures, along with a cap on repayment obligations and steps to check over-indebtedness introduced by the regulator, will eventually bring down interest rates for the borrowers, he says

Over 200 employees risk losing their jobs

While you should evaluate festive offers, criteria like ease of prepayment are also crucial

NBFC has more than Rs 2,600 crore in AUM and it has some 200 branches

Large Indian lenders are reluctant to process direct rupee trade transactions with Russia months after the mechanism was put in place for fear of becoming the target of sanctions by the United States

Some of the Revlon Inc. creditors who were accidentally sent more than $900 million by Citigroup Inc. asked a federal appeals court for a rehearing, after it ruled that they had to give the money back

RBI advised private sector lender to submit a fresh proposal of another Independent Director for the post of Chairman

The company has repaid outstanding principal of Rs 121.78 crore to the bank, is in talks with other lenders for debt resolution plan

Lenders are waiting for clear demand patterns to emerge and policy stability, say analysts

Yes Bank is likely to approve the transfer of stressed assets worth $6 billion to private equity firm JC Flowers at its next board meeting

The government is also nudging operationally sound RRBs to explore listing on the stock exchanges, creating additional sources to meet their regulatory capital requirement