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Our News - Feb 2020
- 2020-02-17 : RBI reported an increase in loans and deposits
Reserve Bank of India reported an increase in the banks loans by 7% in the two weeks to January 31. Further, RBI also reported an increase of 9.9% on deposits in the same period. The Bank deposit increased from Rs. 1.98 trillion to Rs. 133.24 trillion driven by fixed deposits and recurring deposits. - 2020-02-12 : IDBI Bank reported a Q3 profit before tax of Rs. 756 crores Private sector lender IDBI Bank posted a Q3 profit before tax of Rs. 756 crores. It was driven by an increase in Net Interest Income and a slump in provisions by loans. Further, the Bank Fixed and recurring deposits grew to Rs. 2,18,180 crores and the share of saving and current accounts rose to 47.65%.
- 2020-02-04 : RBI reported bank credit grew by 7.21% in the fortnight ended 17 January Reserve Bank Of India reported a credit growth of 7.21% to Rs. 100 Lakh Crores mainly by Home Loan, Personal Loan and Business loan. In addition to this, It also reported a growth of 9.51% in deposits to Rs. 131 lakh crore bolstered by Fixed deposits and Recurring deposits.
- 2020-02-01 : Bank deposit insurance cover increased from Rs. 1 Lakh to Rs. 5 lakh In Budget 2020, Finance Minister Nirmala Sitaraman proposed a hike in Deposit insurance cover from existing Rs. 1 lakh to Rs. 5 lakh. The long-awaited move is aimed at gaining the confidence of customers, thereby increase Fixed deposits and recurring deposits.
- 2020-01-31 : Bank deposit cover is expected to be doubled to Rs 2 lakhsGovernment Of India is expected to increase the deposit cover from Rs. 1 Lakh to Rs. 2 Lakh in case of failure of the Bank. This move is aimed at gaining the confidence of customers thereby increase the Fixed deposit and recurring deposit.
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