HDFC's retail loans grew around 9.3 per cent slower than its overall book's 14.4% in the June quarter, much lower than SBI (16.5%) & ICICI (20%) growth in that portfolio.
Meeting is expected to take stock of banking sector, bad loans (NPAs), progress on restructuring RBI's 2.0 scheme. Banks may be nudged to push loan growth in productive sectors.
Most recent data shows India’s top 3 private banks lent nearly 3 times the average industry rate in the quarter of March, while maintaining better asset quality than their state peers.
Of total loans disbursed to over 20 lakh street vendors until 29 March, PSBs gave loans to over 18 lakh applicants while private banks distributed loans to just 32,534.
This step is expected to further enhance customer convenience, spur competition and higher efficiency in the standards of customer services, an official statement said.
It’s virtually written in the stars that private banks will continue to grab a bigger share than public banks. Two or three large, better-run govt banks should suffice.
Crony capitalism has built up slowly in India, emerging as a Frankenstein’s monster. Telecommunications to transportation, the landscape is starting to resemble a Monopoly board.
In India, only 17% of public sector banks and 25% of private sector banks claimed to have an internal strategy for integrating climate risks into their risk management framework.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
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