Fintechs are not a threat to the existence of banks. But if banks don't adapt, they will be in trouble.
It is estimated that ARCs have bought a total of Rs 6,000 crore of bad loans so far this fiscal from banks.
This is the second petition filed against HDIL within three months.
Net profit increased to Rs 1,002 crore from Rs 802 crore a year earlier
Moody’s noted that the below-investment-grade corporate exposure, is still around 3.9 per cent of the loan book, and double its outstanding watch list accounts.
Money is expected to be used to clean up balance sheets of banks, which could take up to a year.
Net interest income increased 39% to Rs 420 crore while other income rose 43%.
Rating agencies have welcomed the government’s announcement of providing a total of Rs 2.11 lakh crore to capital starved public sector banks.
A couple of years ago, standalone and easy-to-operate wallets such as Paytm, Freecharge, Citrus, and MobiKwik shook up banks by offering huge discounts.
In an interaction with ET, Dipak Gupta, Kotak Mahindra Bank’s joint managing director, talks about the pain and the gains that the economy may see in the next few years.
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