Page 5 - Banking Finance December 2020

BANK UPDATE

Banking

News

Central Bank of India net of banks has fallen to 7.7% from 8.2% justment issues, etc. In such cases, ex-
in June and 7.9% in March 2020. pert counselling shall be of immense
profit rises 20% help in providing timely support to
At the end of the second quarter, pub-
Central Bank of India reported over 20 lic sector banks, or PSBs (including IDBI them for their emotional worries," said
per cent rise in its net profit at Rs 161 Bank), reported their gross NPA ratio Rathi.
crore for the second quarter ended at 9.7% compared to 10.2% in June Sanjiv Chadha, managing director and
September 30. The bank had posted a 2020. This is the first time in several chief executive of the bank said, "This
net profit of Rs 134 crore in the corre- quarters that PSBs are reporting single- counselling service offered by the Bank
sponding quarter of the previous finan- digit gross NPAs. Private sector banks in tie-up with a specialized service pro-
cial year. Its total income grew nearly
too reported a decline in NPA ratio at vider is safe, non-judgmental, and
2 per cent to Rs 6,833.94 crore during 5% from 5.5%. highly confidential and is available to
July-September 2020, against Rs the employees and their family mem-
6,703.71 crore in the year-ago period.
BoB rolls out well-being bers 24/7".

Indian Overseas Bank reg- programme for employees UPI transactions surpass 2-
isters net profit of Rs. 148 Bank of Baroda announced that it has
rolled out free and anonymous psycho- billion mark in October
crore logical counselling for 8000 odd em- Unified Payments Interface (UPI), the
Indian Overseas Bank (IOB) reported a ployees on a pilot basis. The public-sec- flagship payments platform of the Na-
net profit of Rs 148 crore for the sec- tor bank has a total of 84,000 employ- tional Payments Corporation of India
ond quarter of current fiscal as bad ees nationally. The program will cover (NPCI), recorded over two billion trans-
loans and provisions declined. The all employees in the Mumbai zone. actions in October, a milestone that
Chennai-headquartered lender had Prakash Vir Rathi, General Manager (hu- highlights the faster adoption of digi-
registered a net loss of Rs 2,254 crore man resource management),said that tal payments in a post-Covid-19 world.
in July-September quarter a year ago.
the coronavirus pandemic had raised The transactions, which had crossed
stress levels among employees. The em- the one-billion mark in the first 15 days
Banks report lower NPAs ployee assistance program was aimed at of the month, amounted to Rs 3.86
for September quarter alleviating stress among the bank's em- trillion in October.
The ratio of non-performing assets ployees, especially younger employees. The NPCI data shows UPI registered
Around 60% of the bank's employees are
(NPAs) to total loans has improved 2.07 billion transactions, almost 82 per
during the quarter ended in Septem- aged between 18-35 years. cent higher than the 1.14 billion trans-
ber 2020. According to a report by "They often face peer pressure, career actions reported in the corresponding
Care Ratings, the ratio of gross NPAs and ambition issues, relationship / ad- month last year.

BANKING FINANCE | DECEMBER | 2020 | 5