A Complete Banking Guide... Bank of Baroda, Allahabad Bank, Andhra Bank, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Dena Bank, ICICI Bank, IDBI Bank Limited, Indian Bank, Indian Overseas Bank,, Oriental Bank of Commerce, Punjab & Sind Bank, Punjab National Bank, State Bank of India, UCO Bank, UTI Bank Ltd., Union Bank of India, United Bank Of India, Vijaya Bank, Yes Bank, Mutual Funds, Income Tax
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Growth in bank credit to firms has slowed overall in India this year amid the pandemic. The part of the market where banks join together in syndication to extend funds is only a small part of the overall pool. But the fact that it has almost entirely dried up is another sign that lenders are hesitant to provide funding, as they brace for increased bad loans.
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The ordinance passed by the government on Friday said that "no application shall ever be filed" for insolvency proceedings on default on or after March 25. It also has a provision to extend the ban on filing new cases up to one year.
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The world’s governments and central banks are shifting from rescue to recovery mode as the deepest slump since the Great Depression shows signs of bottoming out.
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Despite the lockdown, the largest private sector lender HDFC Bank has been able to add 2.5 lakh new customers in the last 40 days through an online facility which helps open savings accounts instantly.
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