Loan growth is likely to stay sluggish this yr due to weak demand & cautious approach on unsecured lending. Going forward, gap between credit growth & deposit growth is likely to shrink.
The central bank last month issued a circular ordering banks to start, from next year, to keep aside larger buffers in relation to accounts connected to the internet, mobile or UPI.
To avoid high credit-deposit ratios, banks need to maintain healthy deposit base — a difficult task considering the competition they face from MFs & physical assets like gold, real estate.
At 'Viksit Bharat, Viksit Jammu Kashmir' event in Srinagar, Modi rebuked previous governments for corrupt practices that destroyed bank & risked thousands of crores of depositors' money.
Finance Minister Nirmala Sitharaman said the legislation will benefit small depositors, including those of the Punjab and Maharashtra Cooperative Bank.
Deposit Insurance and Credit Guarantee Corporation (DICGC)'s response comes in the wake of the PMC Bank crisis and other bank frauds that have put people's savings at risk.
Following the transaction which is expected to be completed by November, Dassault Reliance Aerospace Ltd will become an associate company, with Reliance retaining a 49% stake.
In its toughest time in decades because of floods, Punjab would’ve expected PM Modi to visit. If he has the time for a Bihar tour, why not a short visit to next-door Punjab?
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