IDBI Bank has been losing money for the past three years. During this period the bank’s gross non-performing assets ballooned to 27.9 percent of advances and net non-performing assets touching 16.7 percent and capital buffer fell to a level that will not permit the lender to do incremental business. In medical parlance, the condition is akin to a “patient in a coma” requiring life support. … [Read more...] about Is a possible stake sale to LIC the best solution to IDBI’s problems?
The festive season has been good for banks. Consumption-led businesses have shown strong growth in this festive season. In the initial five months of the pandemic and during the nationwide lockdown, consumption had reduced. In an interaction with Hiral Thanawala of Moneycontrol, Sumit Bali, President and Head – Retail Lending & Payments, Axis Bank, who joined the bank during the pandemic, discusses how consumption-led demand has been picking up. As of September 2020, Axis bank had 80 per cent secured and 20 per cent un-secured loans. Home loan, loan against property and loan for passenger cars contributed up to 65 per cent in the half-year ended September 2020. … [Read more...] about Secured loan book back to pre-COVID levels: Axis Bank
There are some more strategic sale transactions that we are planning. One is Nilanchal Ispat Nigam Ltd. It is a joint venture of six companies. Four of them are central PSUs and two are Odisha government PSUs. This particular plant has a huge potential in terms of the land, mines and capacity. It could potentially reach 6-7 million tons of capacity, right now it is less than one million tons. We have done some road shows and there is a tremendous amount of interest in this asset. The EOI will be out soon and we hope to conclude it before March 31. … [Read more...] about Interview | RailTel, IRFC IPOs in pipeline; govt has limited bandwidth to back Air India: DIPAM secretary Tuhin Kanta Pandey