Bad loans a cause of concern: RBI Deputy Governor R Gandhi

Reserve Bank Deputy Governor R Gandhi expressed concern over bad loans and said banks should strengthen their internal credit appraisal systems to minimise the risk of default."The final (NPA) figure for March 2014 is yet to be known; while some may view this ratio as reasonable, given the economic conditions prevalent in the country and elsewhere, the total stressed assets in the banking system (including restructured standard assets) as at December 2013 was 10.13 per cent of the gross advances of the banks, which is a cause of concern for...

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Canara Bank aims to reach aggregate biz of Rs 8.50 lakh crore

Public sector lender Canara Bank is targetting to reach an aggregate business of Rs 8.50 lakh crore during this fiscal with plans to add 1,250 branches, a top official today said."The bank was aiming to reach an aggregate business figure of Rs 8.50 lakh crore with a deposit growth of 16-17 per cent and advances growth of 19-20 per cent by March 2015," bank's Chairman and Managing Director R K Dubey told reporters here.During 2013-14 fiscal, the bank's business had touched Rs 7.22 lakh crore. Last year the GDP growth had dipped, there was slow...

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