Monday, October 26
Bandhan Bank said that its advances grew 15% year-on-year to Rs 1.33 lakh crore at the end of December even as its loan recovery took a hit across asset classes.The overall collection efficiency declined to 97.6% for the December quarter from 98.2% seen in the preceding period. The same parameter for the microfinance loans fell to 97.4% from 98.1%, while it stood 98.3% against 98.7% for other loans.Bandhan Bank's deposits grew 20% year-on-year to Rs 141 lakh crore. The bank's outstanding deposit pile however shrunk 1.1% in the last three months from Rs 1.43 lakh crore seen at the end of September. This was led by a 5.4% shrinkage in current and savings account (CASA) deposits and 3.7% fall in bulk deposits, according to the data submitted by the bank to the stock exchanges.Its CASA ratio t
The Indian banking sector continues to demonstrate resilience and adaptability, navigating a dynamic economic environment with steady growth in credit, deposits, and profitability.Despite certain challenges, particularly in the unsecured retail and microfinance institution (MFI) segments, the sector’s overall outlook remains positive, underpinned by strong fundamentals and operational efficiency.Projected credit growth for FY25 is ~11%, with expectations of improvement to ~12.5% in FY26, showcasing the sector’s ability to sustain demand across key areas.On the deposit front, growth remains robust at 11.5% as of December 2024, supported by heightened competition among banks and proactive strategies to enhance funding bases.While CASA accretion faces challenges due to depositors locking
The inclusion of reigning world chess champion D Gukesh in the list of Major Dhyan Chand Khel Ratna awardees for 2024 was a pleasant surprise for many.While Gukesh deserves honours for his historic triumph at the FIDE World Championship in Singapore last month - a feat that, at 18, made him history's youngest-ever world chess champion - how he made the Khel Ratna list for 2024 is intriguing, as per a TOI report.There is a prevailing sentiment that the government should have postponed awarding him the country's highest sporting honor until next year, when he would have been an automatic nominee. This year, Gukesh's accomplishments fell outside the four-year awards cycle, which runs from January 1, 2020, to the end of the 2024 Paris Olympic and Paralympic Games.According to the sports minist
