Page 5 - Banking Finance December 2020
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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
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