Ujjivan, which is in midst of transforming itself into a small finance bank, has remained silent about the development, with Samit Ghosh, its managing director, refusing to comment.
Ujjivan, which is transforming itself into a small finance bank, has remained silent about the development, with Samit Ghosh, its MD, refusing to comment.
Things may be falling in place for small towns and villages which have been credit starved despite the lofty principles of making credit available to everyone on which banks were nationalised.
Three years after the RBI sought to shore up the rupee through FCNR-B deposits, the country is bracing for an outflow as these get redeemed.
Foreign exchange reserves dipped $4.344 billion in the first seven days of October. The RBI could have used the reserves to withstand the redemption pressure
The reserves was at $367.647 billion at end of October 7, RBI data showed. The central bank does not cite any reason for the reserves movement.
A sharp dip in profitability and mounting losses could wipe out the revenue reserves of some public sector banks, Crisil said.
Total stressed assets (restructured plus non performing assets) in the Indian banks was 11.5% of Rs 75 lakh crore outstanding loans at end-March 2016
There were 646 upgrades to 553 downgrades by the rating company in the first half. The credit ratio improved to 1.2 times in the first half compared with 0.8 time in the second half last fiscal.
The new generation private sector lender has filed for a winding-up petition against Ruchi Soya in the Bombay High Court, which will hear the case next week.
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