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German GDP down 10% in June qtr
France down 14%
Singapore minus 41%
#USGDP minus 32.9%,as per advance estimates
#COVID has inflicted universal damage--fall in India will be relatively lower&cushioned by good agri growth
Even when March qtr GDP grew 3.1%,#AgriGrowth was 5.9%
France down 14%
Singapore minus 41%
#USGDP minus 32.9%,as per advance estimates
#COVID has inflicted universal damage--fall in India will be relatively lower&cushioned by good agri growth
Even when March qtr GDP grew 3.1%,#AgriGrowth was 5.9%
Besides Farm sector,thx to Banking clean-up,by @narendramodi govt, #Banks are doing well too
#SBI reported 81% jump in net profit at Rs 4189Cr
Yes,there was one time gain of 1540Cr--But even without this,profit grew by 15%& #NII by 19%
#GrossNPAs fell from 6.15% to 5.44% QoQ💪
#SBI reported 81% jump in net profit at Rs 4189Cr
Yes,there was one time gain of 1540Cr--But even without this,profit grew by 15%& #NII by 19%
#GrossNPAs fell from 6.15% to 5.44% QoQ💪
#NetNPAs of #SBI fell from 2.23%,to 1.88%,in June2020 qtr
Improvement in #AssetQuality of SBI is good news&this,despite providing for #COVID19India related losses
SBI made Covid related provisions worth 1836Cr inJune qtr
Total provisions against Covid related losses are 3008Cr
Improvement in #AssetQuality of SBI is good news&this,despite providing for #COVID19India related losses
SBI made Covid related provisions worth 1836Cr inJune qtr
Total provisions against Covid related losses are 3008Cr
In the next RBI Monetary Policy meeting which is on 6th August it is expected that Repo Rate will be cut by 25-35 bps which should be cut by only 15-20 bps & Reverse Repo should be cut by 25-35 bps.
The main reason behind more Reverse Repo cut for this time will be the Banks which have got more liquidity approximately 10 Lakh Cr. that liquidity should not be again parked at RBI. Also more Reverse Repo cut will make Banks easy for lending in the markets.
But this time RBI should do something different like instead of cutting Repo or Reverse Repo, RBI should cut Standing Deposit Facility. Also the Banks which park money on Reverse Repo Window should not be given any intrest and should be penalised.
