Thread by @Sanju_Verma_

#AxisBank has raised 10000Cr via #QIP,at Rs 420.10,which is 5% discount to lower end of band

15000Cr,recently raised by #YesBank

In last 6 months,52000Cr raised by #Banks--#CapitalAdequacy will be key in dealing with post #Covid stress

Great move by banks to shore up Capital💪

#ICICIBank wanted to raise 15000Cr but got bids worth 62000Cr today at floor price of 351.36/-

Within few hours of opening,due to huge oversubscription,#QIP was closed

Clearly,there is no dearth of liquidity in the markets

90000Cr raked in by #DebtFunds in July'20
#GreenShoots

Lot has been written about #BoB's loss of 864Cr in June qtr,from 710Cr profit,YoY

Like i have been saying,most Banks now focus on #AssetQuality&not just Profits

BoB hiked #Provisions by 54% on standard loans,to cover for future losses

In 2013,Banks were doing the opposite😑

Provisions for #BoB rose 71% to 5628Cr,Vs 3285Cr a yr ago,led by 1811Cr of standard asset provision

Half of 1811Cr,or 900Cr of Provision was for a 7600Cr corporate loan

5600Cr of the 7600Cr is govt guaranteed,with zero risk weightage&BoB need not have provided for it,but it did

To cut a long story short,during @INCIndia led #UPA,#crony banking ruled the roost,with #NPAs shoved under the carpet,thx to an inept @PChidambaram_IN

June7th circular by @narendramodi govt has tightened #Prudential norms for Banks&even #Standard loans have to be provided for✌

Interestingly, while overall loan growth was 9% for #BoB,#Retail loans grew a solid 15.5%

Home loans grew 12%
Education loans,16%
Car loans,36%

#GreenShoots,also corroborated by 36% growth in M&M's #Tractor sales,in July'20,with domestic sales up 28%&exports up 15%

#economy

July #tractor sales for M&M were highest,in last 19 months

Even #Steel industry seeing rebound--#JSWSteel's capacity utilization,83% in July,Vs 79% in June

Budgetary allocation of 61500Cr for #MNREGS&another 40000Cr given in May'20,due to #Covid,helping #RuralEconomy,big time