Business Daily from THE HINDU group of publications
Tuesday, Mar 04, 2008
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Business Daily from THE HINDU group of publications Tuesday, Mar 04, 2008 ePaper | Mobile/PDA Version |
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Farm credit Industry & Economy - Budget Markets - Stocks Money & Banking - Non-Performing Assets Our Bureau
Mumbai, March 3 Mr T.S. Narayanasami, Chairman and Managing Director, Bank of India, said, “There is no need for any apprehension that the profitability of banks will get affected following the proposal to waive off Rs 60,000 crore farm loans. The entire NPA portfolio of PSU banks will get substantially cleaned up and banks will effectively get zero cost refinance on them. The liquidity that will be infused will only add to banks’ profitability.” Mr M.V. Nair, CMD of Union Bank of India, said, “The proposal will be very positive for banks. Assuming a bank has made 40 per cent provision, it will be happy even if the borrower pays 60 per cent, when the loan becomes NPA. As the write-off is for the outstanding loans during that particular period, if the Government reimburses the entire amount, banks can actually make a profit. We will be happy even if the Government gives us part of the money.” ‘Debt waiver good for banks’ Govt plans to inject liquidity into banking system Loan waiver: Bankers await the fine print Loan waiver is win-win for all: S.K. Goel More Stories on : Farm credit | Budget | Stocks | Non-Performing Assets
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