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.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
IBALL WORLDWIDE PVT. LTD.
TEJAS NETWORKS INDIA PVT. LTD.
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
AMARA RAJA POWER SYSTEMS LTD.
Technology Icons Of India 2023: Sandip Patel
Sandip Patel is the Managing Director, IBM India/South Asia. He is res...
Technology Icons Of India 2023: Rishad Premji
Rishad Premji is the son of the Wipro head Azim Premji and was named a...
Technology Icons Of India 2023: Madhabi Puri Buch
Madhabi Puri Buch is the chairperson of the securities regulatory body...
Aadhaar: Architecting the World's Largest Biometric Identity System
The Unique Identification Authority of India (UIDAI) is a statutory au...
PGCIL transforming India with its wide power transmission network
Engaged in power transmission, POWERGRID or PGCIL is a stated owned In...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
IRIS GLOBAL SERVICES PVT. LTD.
Iris Global services is one of the leading distribution houses that d...
BEETEL TELETECH LTD.
: Beetel is one of the oldest and most reputed brands in the Industry,...
Crayon Software Experts India Pvt Ltd
Crayon helps its customers build the commercial and technical foundati...