Bad loans shrink for first time since Modi's war on NPAs began

                              

India's stock of soured bank loans shrank slightly in the quarter to September last year, the first pullback since a drive to clean up record levels of bad debt began in 2015 and signalling that tighter rules and a new bankruptcy code may be starting to show results. 

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Government infuse over Rs. 88,000 cr in PSU banks,Which bank gets how much amt?

The government will infuse more that Rs88,000cr into public sector banks in FY18 itself, as a part of its Rs2.11lakh crore recapitalization plan to boost the capital of state owned banks.

The capital infusion plan for 2017-18 includes Rs80,000cr through Recap Bonds and Rs8,139cr as budgetary support. This plan addresses regulatory capital requirement of all PSBs and provides a significant amount towards growth capital for increasing lending to the economy.

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Canara Bank Q3 result, profit slumps 61%

Canara Bank said on Wednesday its third-quarter net profit plunged 61 percent, missing analysts’ estimates, pulled down by higher provisions for bad loans. 

Net profit came in at Rs. 126 cr for the quarter ended Dec. 31, compared with Rs. 322 cr a year ago, the country's fifth-biggest state-run lender by assets said.

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Vijaya Bank Q3 result, net profit drops 65%

State-owned Vijaya Bank on Wednesday reported a 65.45% decline in net profit at Rs79.56 crore for the third quarter ended on 31 December 2017, due to rise in provisions. The bank had posted a net profit of Rs230.28 crore in the same quarter a year ago.

The bank’s total income also declined 7.09% to Rs3,450.81 crore in the quarter from Rs3,714.37 crore a year ago, Vijaya Bank said in a BSE filing.

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RBL Bank Q3 result, profit up 28%

Private-sector lender RBL Bank’s net profit for the quarter ended December 2017 rose by 28 per cent to Rs 1.65 billion (Rs 165 crore) backed by rising in net interest and other income. This was against a net profit of Rs 1.28 billion (Rs 128 crore) in the previous year’s corresponding quarter.

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Expected DA for Bankers from February 2018

DA for bankers from Feb 2018 is expected to increase by 17 DA slabs for the month of Feb, March and April 2018 calculated on the basis of Consumer Price Index (CPI) data.

All India Consumer Price Index Numbers for Industrial Workers – CPI(IW) is 287 for October 2017 as announced by the Government. Also the Consumer Price Index (CPI) increased by 1 point from 287 to 288 points.

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Axis Bank Q3 result, net profit rises 25%

Axis Bank Ltd on Monday reported a 25.3% increase in its fiscal-third quarter profit as the bank provided lower provisions against its bad loans.

Net profit rose to Rs726.44 crore for the quarter ended 31 December from Rs579.57 crore a year ago. According to 16 Bloomberg analysts’ estimates, the bank was expected to post a net profit of Rs818.70 crore.

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NPS subscribers can now partially withdraw contribution: Here are the conditions

In a major relief to subscribers of the National Pension Scheme (NPS), the Pension Fund Regulatory and Development Authority (PFRDA) has cut down the time period for partial withdrawals subject to certain contingencies. NPS subscribers who have contributed for three years can now withdraw up to 25 per cent of the contributions, as per PFRDA’s latest circular. Earlier, the partial withdrawal was allowed only after completion of 10 years of subscription.

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