SIDBI, in a release on Tuesday, said it has sanctioned the financial assistance to the two small finance banks so as to reach out, through the SFBs, to small-sized Non-Banking Financial Companies(NBFCs)/Micro Finance Institutions (MFIs), who in turn provide financial assistance to the small businesses and micro entrepreneurs.
Bankers said the rate adjustments are also somewhat technical in nature, as lenders need to adjust their asset liability management (ALM) positions in keeping with regulatory norms.
Kotak Mahindra Bank is still in the race but has submitted a lower bid than Axis Bank so ranks second in Citi's order of preference, the sources told Reuters.
In the wake of COVID-19 and new digital operations, banking and financial institutions have been struggling to deal with an increasing number of fraud incidents and the trend is expected to continue, a Deloitte India survey said on Monday.
The fourth quarter, which is when banks book 35-40% of their business for the full year, may be hurt in FY22 amidst dampening sentiment and fresh curbs on movement, bankers told FE.
The draft scheme envisages a takeover of the assets and liabilities of PMC Bank, including deposits, by USFB, giving a greater degree of protection for the depositors.
Retail loans grew by 13.3%, commercial and rural banking loans grew by 29.4% and corporate and other wholesale loans grew by 7.5%. Overseas advances constituted 3.4% of total advances.
he country's largest private sector lender HDFC Bank on Saturday reported an 18.1 per cent rise in its standalone net profit at Rs 10,342.20 crore for the third quarter ended December 2021.
“The probability of a severe nationwide lockdown, at the moment, seems low with restrictions being imposed at the regional level. In the absence of any restrictions, the impact on the cash flow of NBFC borrowers may remain modest,” India Ratings said.
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