Photo: The Economic Times
FM Nirmala Sitharaman To Meet MD, CEOs Of Public Sector Banks
To review the financial performance of public sector banks (PSBs), Finance Minister Nirmala Sitharaman decided to meet in person with the MD and CEOs of PSBs on August 25 in Mumbai. Reportedly, banks may have to infuse more "loan growth in productive sectors" to soon revive the economy from the COVID-19 pandemic impact. Moreover, details on the recovery of NPA and bad loans will also be discussed.
Tags: Finance Minister, Public Sectors Banks, Mumbai, Covid-19, NPAs
Courtesy: Money Control
Photo: Telegraph India
IDBI Bank No More Under RBI's PCA Framework After Improving Finances
The Reserve Bank of India (RBI) on March 10 stated that private lender IDBI Bank has been removed from its prompt corrective action (PCA) framework after four years. Reportedly, the IDBI's removal resulted from the bank's refined financial and credit profile, especially in regulatory capital, net non-performing assets, and leverage ratio. Besides enabling amplification of business, the freshly granted immunity may facilitate strategic… read-more
Tags: RBI, IDBI, private bank, PCA, NPAs, Government, Disinvestment
Courtesy: Business Standard
Photo: Bloomberg Quint
Railways' Finance Arm IRFC's Q3 Profit Clocks 16% Rise To Rs 2,934 Cr
The Indian Railway Finance Corporation Ltd has reported a 16% surge of Rs 2,934 crore in its Q3 of FY21 profit ending December 2020. Additionally, the company witnessed a 10.76% rise in its total revenue that stood at Rs 11,315.51 crore. Interestingly, allowing interim dividend, the IRFC also revealed having no NPAs and credited government linkages, strong Capital Adequacy Ratio and positive credit ratings behind the growth.
Tags: IRFC, Indian Railways, Companies, QUARTER PROFITS, NPAs
Courtesy: LiveMint
