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Our News - Jul 2020
- 2020-07-03 : Bank credit soars by 6.18% and deposits by 11%
RBI reported that the Bank credit backed by retail loans like home, personal, car, two-wheeler, gold loans along with business loans and mudra loans grew by 6.18% in the fortnight ending 19 June. Further, the deposits backed by Fixed deposits and Recurring deposits grew by 11%. - 2020-06-05 : State Bank of India reported the highest ever yearly net profit
State Bank of India registered a Net Profit of Rs.3581 Crores bolstered by retail business loan, FDs and RDs in Q4FY20, an increase of 327% over Q4FY19. For the full year FY20, Net Profit stood at Rs. 14,488 Cr backed by retail loans like home, personal, gold, two-wheelers, and car loan along with business and mudra loan against Net Profit of Rs 862 Crores in FY19. This is also the highest ever yearly Net Profit recorded by the Bank. - 2020-04-23 : Deposits in Jan Dhan accounts increased in the first week of April
RBI reported a surge in the deposits in Jan Dhan Bank accounts in the first week of April. The deposits in 38.12 crore accounts stood at Rs 1,27,748.43 crore on April 8, up from Rs 1,19,680.86 crore on 1 April 2020. The hike in the deposits is due to the central government transferring money into such accounts to help people with the difficulties during the lockdown. - 2020-04-14 : IDFC First Bank retail deposits surged by 157%
IDFC First Bank reported a jump of 157% in retail deposits, which includes fixed and recurring deposits in the year 31 March 2020. The bank’s retail deposits surged to Rs 33,898 crore from Rs 13,214 crore a year ago. However, Certificates of Deposits outstanding slumped from Rs 28,754 crore as of 31 March 2019 to Rs 7,111 crore as of 31 March 2020. - 2020-04-08 : Kotak Mahindra Bank Q4 deposits grew by 20%
Kotak Mahindra Bank reported 20% year on year increase in its FD and RD base to Rs 2.59 trillion in the quarter ending March 2020 against Rs 2.16 trillion in the corresponding quarter of the preceding year. In addition to this, advances of the bank reported an increase of 6.7 per cent in Q4 FY20 to Rs 2.2 trillion compared to Rs 2.05 trillion a year ago.
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