IndusInd Bank notifies not to believe in rumours as they are financially strong
By MYBRANDBOOK
IndusInd Bank has announced that it is financially strong, well-capitalised, profitable and a growing entity with strong governance. In a statement it said, various market rumours and speculation incorrectly reflect on the bank's financial health and are totally misplaced, motivated and not based on facts,.
It also added that Induslnd Bank is committed to all its stakeholders and we would urge all our stakeholders to not believe unsubstantiated information and mischievous rumours.
The bank said its gross non-performing assets (NPAs) last quarter (October to December) at 2.18 per cent were second-lowest in the industry among large private sector banks. They expect current quarter gross NPAs to be pretty much in line with that of last quarter.
According to reports, relief measures for the telecom sector are under the process of approval. "This is a significant positive step and we await further decisions and details in this manner."
The bank said its real estate developer (commercial and residential) book had zero gross NPAs. The gems and jewellery financing portfolio too had zero gross NPAs while commercial vehicle and microfinance portfolios remain steady and range-bound.
The bank said it maintains liquidity well above 100 per cent going up to 120 per cent on a daily basis. The deposit business of both retail and corporate segments is steady. However, a couple of state government entities have made withdrawals amounting to less than 2 percent of our total deposits.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
ICONS OF INDIA : S KRISHNAN
S Krishnan as the secretary for the electronics and information techno...
Icons Of India : NIKHIL RATHI
Co-founder & CEO of Web Werks, a global leader in Data Centers and Clo...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...