NPAs of banks to rise to 10.6% by March 2018: Crisil
The Dollar Business Bureau The gross non-performing assets (NPAs) of banks in India will increase to 10.6% by March 2018 from 9.5% in March 2017, said a rating and research firm in a report. However, there is a fragile revival in the credit quality of the corporates. But the pressure in the banking system is likely to continue in the financial year of 2017-18 and it may reach to 10.6% by March 2018, Crisil warns in a report on Monday. “Credit quality of India Inc is gradually recovering, but the underpinnings remain fragile because some sectors continue to struggle and several large companies remain highly indebted,” it said. The report further said that the gross NPAs of banks that had crossed over Rs.14 trillion ...
RBS to close down Indian operations
The Dollar Business Bureau After crucially examining the number of options for survival in India, the Royal Bank of Scotland, largest state-owned bank of Britain, has decided to shut down its operations in India. Excluding its back office which supports the global network, RBS decided to end the Indian operations due to losses. While confirming the news, the bank’s spokesperson confirmed that the closure of branches has already begun and customers are being informed about the shutdown. The retail banking branches will be closed in a phased manner. A spokesperson from the Bank revealed that the onshore loans portfolio have been sold. The exit of the bank from retail, corporate and institutional businesses has been planned in a phased manner. The bank started informing its ...
Use of technology must to ease banking procedure: SBI chief
Deepak Kumar | The Dollar Business Indian banking is undergoing through huge upheaval, State Bank of India (SBI) Chairman Arundhati Bhattacharya said, adding that there is a need to simplify banking procedure with the use of technology, especially when India is being looked as the world’ next big thing. Speaking at the ASSOCHAM Foundation Day in New Delhi on Tuesday, Bhattacharya said, “Banking has got completely transformed in India in the last fifteen years, thanks to technology and increased adoption of new methodologies. During the last two-three years, use of technology has become integral to banking operations and technology is used for data analysis, understanding of credit needs of customers and customer interaction. Thus, banking and technology are now inseparable.” Underscoring ...
