The largest private sector lender has reported a 7.41 per cent increase in aggregate deposits during the January-March period to Rs 11.46 lakh crore, which was 24 per cent higher as compared to March 31 last year.
New Delhi may need to make a provision of at least 200-250 billion rupees ($5.90 billion) for capital infusion in state-run banks. However, this number can increase significantly as the situation evolves, the officials said.
The RBI had directed banks to provide a 3-month moratorium on term loans to its customers as a means to ease some of the burden considering the prevailing conditions owing to the coronavirus pandemic. Disruption in cash flows to individuals and businesses may have been the reason behind RBI's decision to provide the relief to bank customers.
State-owned Indian Bank on Sunday said its 43,000 employees have voluntarily donated their one day's salary, amounting to Rs 8.10 crore, towards the PM-CARES Fund to fight the COVID-19 crisis.
Many banks have reduced their repo linked lending rates following the Reserve Bank of India's (RBI) recent decision to cut repo rate by 75 basis points. BoM further said it will also reduce its marginal cost of funds based lending rates (MCLR) across all tenors up to 25 basis points from April 7.
The Mumbai-headquartered lender said it would extend one month gross salary in form of an interest free loan, not exceeding Rs 1 lakh, to all serving employees including those are in probation. Besides, employees will get one day special leave for every six days they work during the lockdown period.
“The Government should not lose sight of the plight of these unsung warriors of the economic ecosystem of our country who toils hard at every occasion to power our economy and build our nation. I request the Government to ponder over the issue with alacrity," he All India Bank Officers’ Confederation statement read.
Announcing the Pradhan Mantri Garib Kalyan Yojana (PMGKY) in view of the ongoing 21-day countrywide lockdown due to the coronavirus outbreak, Finance Minister Nirmala Sitharaman had said on March 26 that ex-gratia payment of Rs 500 would be credited to women Jan Dhan account holders for the next three months, starting from April.
In the plea filed through his lawyer Subhash Jadhav, he claimed that he was suffering from chronic immunodeficiency syndrome, which causes recurrent lung, sinus and skin infections.
"CERT-In has received several reports about fake UPI IDs, which are similar to the UPI ID used by the 'Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund," the cyber watchdog said. CERT-In said that pmcares@pnb, pmcares@hdfcbank, pmcare@yesbank, pmcare@ybl, pmcare@upi, pmcare@sbi and pmcare@icici are fake ids.
Account holders with 0 and 1 as the last digits of their jan dhan account numbers can withdraw money from April 3 onwards. Those with accounts ending with digits 2 and 3 will be able to withdraw money from April 4. All the withdrawals basis the last digit of the account numbers will be completed till April 9.
Among the industries, companies in pharma, telecom, fertilisers and consumer goods sector will have limited revenue impact, finds a study. Crisil’s findings are from a study of 35 industries, barring finance. It classified them into three groupings – resilient, moderately resilient and less resilient.
Certainly there is an impact on micro finance because of the covid situation. Anyway we could not collect because this period was under moratorium and it has been pushed to June. Once lockdown lifts we will re-engage with these customers on an active basis, says CEO RBL Bank Vishwavir Ahuja.
The HDFC Group's support to the PM Cares Fund is to commend the exemplary efforts of the Central & State governments, armed and paramilitary forces, local police, healthcare professionals and sanitation workers across the country, who are working tirelessly day in and out to fight the pandemic," HDFC Ltd chairman Deepak Parek said in a statement.
The merger of PNB with OBC and UBI has created the country's second largest state-owned bank with Rs 7.7 lakh crore advances. OBC chief executive Mukesh Kumar Jain, who is now in PNB will be retiring in July. UBI chief executive Ashok Kumar Pradhan will be retiring at the end of May from PNB.
Private sector lender Axis Bank has offered its customers to opt for the loan moratorium if they face problem is keeping their EMIs running, in line with actions of its peers.
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