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Lending to see higher growth from Q4: PNB chief February 12, 2021 SS Mallikarjuna Rao, MD and CEO of Punjab National Bank× Mallikarjuna Rao, MD and CEO, Punjab National Bank, on Friday, said that credit growth is expected to start moving on a higher trajectory from the fourth quarter of this fiscal. The low credit offtake over the last couple of quarters was primarily due to the laxity of demand in the wake of the slowdown induced by the pandemic. It was not due to the risk aversion of banks as is popularly believed, he said. “During the pandemic there was laxity in demand and despite the tax reforms in October 2019, there was not much of investments coming in, and this goes to show the poor demand. But now with the good creation of supply and demand, we expect lending will see a higher growth particularly from Q4 onwards,” said Rao, while addressing the Financial Market E-Conclave organised by the Bengal Chamber of Commerce and Industry here on Friday. ....
Union Bank chief sees Covid-driven NPAs at 2-3% January 15, 2021 Rajkiran Rai G, MD and CEO, UBI× Plans ₹2,000 cr to ₹3,000 cr QIP for additional cushion in capital Union Bank of India intends to raise ₹2,000 crore to ₹3,000 crore of capital to provide additional buffer in view of the non-performing assets (NPAs) that might arise due to the Covid19 pandemic. “We will go for QIP next month to raise ₹2,000 crore to ₹3,000 crore of capital,” G Rajkiran Rai, Managing Director and Chief Executive Officer, Union Bank of India, told BusinessLine on Friday. “We expect Covid-driven NPAs to be in the tune of 2 to 3 per cent of our total book. While we are already adequately capitalised as of now, we intend to have an additional cushion,” said Rai. ....
CM YS Jagan Seeks Bankers Support To Implement AP Govt Welfare Schemes Dec 12, 2020, 08:33 IST AMARAVATI, Dec 11: Chief Minister YS Jagan Mohan Reddy urged the bankers to extend their support in implementing government welfare schemes and help in strengthening the rural economy. Speaking at the 213th State Level Bankers Committee (SLBC) meeting held here on Friday, the Chief Minister said it’s gratifying that 7.5 percent growth is registered in the last quarter in issuing loans and 99 percent of crop loans were given. He asked the bankers to focus on doubling farmers’ income, reducing investment costs, providing proper market facilities for the crops, and to support farmers at the time of natural disasters. ....
Jagan asks bankers to cooperate with government deccanchronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from deccanchronicle.com Daily Mail and Mail on Sunday newspapers.