Banking Sector

Gross advances reached Rs 1,34,876.71 crore as on March 31, 2021 from Rs 1,24,153.18 crore as on March 31, 2020 registering a growth of 8.64 per cent. Shyam Srinivasan, Managing Director & CEO, Federal Bank said: "We delivered our highest every quarterly profit despite an extremely challenging environment.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The market has opened with a gap down, but is still maintaining the 14,700 support level. We could work our way through this fall by strategically buying into the index. The risk reward is favorable. If we move up from here, the target should be 15,200 and a close below 14,700 is the stop loss."

During the same period of FY20, the bank had reported a net profit of Rs 517.28 crore. The sharp decline in profit came on the back of higher provisioning. During the last quarter of FY21, Bandhan Bank's provisions rose to Rs 1,594.30 crore, compared to Rs 827.36 crore in the corresponding quarter of the previous fiscal.

As per RBI's directions, the co-operative bank shall not, without prior approval of RBI in writing grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise.

The Government of India (GoI) and the LIC together own more than 94 per cent of the equity of IDBI Bank, with the Centre holding 45.4 per cent and the LIC owning 49.24 per cent stake. LIC is currently the promoter of IDBI Bank with management control and the Centre is the co-promoter.

In order to mitigate the pandemic related stress on banks and as a measure to enable capital conservation, the RBI has now allowed banks to utilise 100 per cent of floating provisions or countercyclical provisioning buffer held by them as on December 31, 2020 for making specific provisions for non-performing assets.

During the same period of FY20, the bank had reported a standalone net profit of Rs 1,266.60 crore. Net Interest Income (NII) for Q4FY21 increased to Rs 3,843 crore, from Rs 3,560 crore in Q4FY20, up 8 per cent and for FY21 increased to Rs 15,340 crore, from Rs 13,500 crore in FY20, up 14 per cent. Net Interest Margin (NIM) for Q4FY21 was at 4.39 per cent.

According to IOB, the digital consultant would help it to stay focused on leveraging and adopting new technologies and to enhance the service quality and service delivery to its customers.

Narendranath Mishra, Head Agri and Inclusive Banking, DCB Bank, said: "DCB Bank & TCPL are delighted to be associated in this manner. We value each other's experience and expertise to build a granular loan portfolio with patience and nuance. DCB Bank and Techfino complement each other's strengths, and this is an opportunity for both organisations to grow the customer franchise."

According to experts, based on the NCLAT Judgement, the Resolution Plan of UV Asset Reconstruction Company Ltd. (UVARCL) for Aircel, which was approved in June 2020, will be unworkable and the company will be heading for liquidation, resulting in zero recoveries for Rs 18,000 crore owed to the lenders.