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Steel, cement and construction are the industries that are doing very well. At this time, there is a great push. These industries are doing very well and we are seeing very good results for us, said
Rajkiran Rai G, MD & CEO,
Where do you see the credit cost for banks in Q2? Do you feel it will be much lower overall, and do you see things getting better?
Yes, the credit cost for the full year will be cumulative numbers because the last two-three quarters we have not recognised the NPAs even though we declared pro forma NPA and most of the expected provision is on the standard book as of now. So, the credit cost for the full year can be anything between 2% to 3% for the system.
The Trump administration has approved roughly $100 billion of the $350 billion allocated for emergency loans to small businesses devastated by the coronavirus outbreak, Treasury Secretary Steven Mnuchin told lawmakers on Wednesday.
But the figure has done little to ease the rising fears of smaller businesses still struggling to access the funds and growing ever-more concerned that the program is tilted in favor of larger enterprises with existing relationships with banks.
The concern from small businesses is simple: they fear the money will run out before they can access it.
A lot of money [is] first-come, first-serve, and many unbanked people who are underbanked or unserved . don t have banking relationships, sophisticated in a way that others do, House Speaker Nancy Pelosi (D-Calif.) said Wednesday in an interview with NPR.