Page 7 - Banking Finance August 2022

BANK UPDATE

technical integration with the new e- its has increased from 37 per cent in
World Bank approves
filing portal of the Income Tax depart- FY20 to 66 per cent in FY22.
$250m loan for road safety
ment and has become the first private
"Rural areas are followed by semi-ur-
bank to fully integrate with the portal. plan ban ones. Interestingly, with some of
Its customers can now pay their direct The World Bank approved a $250 mil- the states making it mandatory that
taxes through the e-pay tax tab on the lion (Rs. 1,960 crore) loan for the cen- transfer of monetary resources can
only be given to a women depositor, it
portal using Kotak net banking or by tral government's road safety
is likely that the share of women de-
visiting a branch. This will make the tax programme which addresses high road
positors will continue to stay buoyant
payment process simple, instant, and crash fatality rate in the country.
in bank deposits," it further said.
convenient for customers, said the bank.
According to the multilateral institution,
In October 2021, Kotak Mahindra Bank
the India State Support Program for
had said it became the first scheduled Attention Subscribers
Road Safety, financed by the World Bank,
private sector bank to receive approval
will be implemented in Andhra Pradesh, Please renew your Subscription of
as a collections partner for taxes, after
Gujarat, Odisha, Tamil Nadu, Telangans, Banking Finance Journal to receive
the announcement to permit all banks
Uttar Pradesh and West Bengal. copy of the journal uninterruptedly.
to participate in government business.
The plan is aimed to help participating You can now pay by GPAY, Phonepe,
states reduce road crash fatalities and Paytm, Amazon, ICICI Pay, BHIM UPI
Private banks treble small
injuries through improved road safety
biz loan pie to 70% management and institutional reform,
Private sector banks more than tripled and results-based interventions on
their share in loans sanctioned to the high-risk roads. It will also strengthen
micro, small and medium enterprise emergency medical and rehabilitation
(MSME) sector to 69.8% in FY22 from services for post-crash care.
the previous year's levels. Earlier, pri-
vate banks had almost halved their Women's share in incre-
share in FY21 to 18.2% from 33.6% in
mental bank deposits rises
FY20.
to 35%: SBI
Public sector banks, which accounted
The share of women depositors in in-
for 48% of all loan sanctions to MSMEs
cremental bank deposits during FY22
in FY20, increased the share to 73% in
FY21 after the pandemic with a major- increased to 35 per cent from 15 per
cent in FY21, a whopping rise of 20
ity of this going towards Mudra loans.
percentage points, a research report
However, in FY22 when competition
by State Bank of India (SBI) said.
for credit picked up, the share of PSU
banks in lending to small segments "Even if we consider the share of
dropped to 19.1%. women depositors in FY22 over FY20
(as FY21 was an exceptional year) in
Before the pandemic, many private
incremental bank deposits, the share You can also make payment for
sector banks had turned cautious on
increased by 6 percentage points," it purchase of Books/Exam Guides
loans to small businesses and started
said. The analysis based on population- from www.sashipublications.com
cutting their exposure as soon as the
group wise indicates that rural areas
pandemic broke out. With government through above QR Code
are the major source of incremental
guarantees coming in and stress turn- For any query please call
women depositors, the report added.
ing out to be less than expected, they 9073791022/9883398055
sharply increased their market share in According to SBI, the share of women
www.sashipublications.com
FY22. depositors in incremental rural depos-
BANKING FINANCE | AUGUST | 2022 | 7