Courtesy: The Economic Times
Presidential Elections: Support Dr.Meira Kumar
Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.
Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.
Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.
Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.
Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.
All the best to Dr.Meira Kumar.....👍✌
Tuesday, November 05, 2013
Bad Loans of public sector banks like BoB, BoI & Allahabad Bank shrink on better recoveries
KOLKATA, 5 Novermber, 2013: Three of the seven banks that have declared quarterly results have shown better recoveries from sticky loans, following a government nod to lenders to go after wilful defaulters.
Bank of BarodaBSE -1.64 %, Allahabad BankBSE 1.67 % and Bank of India saw better recoveries from sticky loans after the government allowed them to publish names of wilful defaulters and auction their collateralised assets. Bank of Baroda's slippages fell to Rs 1,600 crore in the three months to September 30, compared with Rs 1,800 crore in the year-ago quarter. Chairman and managing director SS Mundra said he expects that the worst may be over so far as asset quality is concerned, and that performance would stabilise over the next few years. Bank of India's asset quality improved with gross non-performing assets ( NPAs) ratio dipping to 2.93% compared with 3.42% in the September quarter of the previous year. Net NPA improved to 1.85% from 2.04% a year ago. The bank also showed lower slippages and better recoveries sequentially.
The fight against wilful defaulters got a shot in the arm with Reserve Bank governor Raghuram Rajan pushing banks to get bad loans off their books by selling them to asset reconstruction companies.
Allahabad Bank's chairperson Shubhalakshmi Panse attributed the bank's 18% rise in profit mainly to improved recovery performance. The bank recovered Rs 2,573 crore during the second quarter, seven times more than what it had managed a year ago. The bank was also able to contain fresh slippages to Rs 1,200 crore, compared with Rs 1,720 crore last year. It sold written-off assets worth Rs 732 crore to asset reconstruction companies at 50% discount to push up recovery and non-interest income.
Other lenders, including Bank of MaharashtraBSE 0.24 % and Union Ban of India, continued to see spikes in bad loans, but Union Bank chief Debabrata Sarkar said he expects the NPA situation to improve over the next few quarters.
Syndicate Bank and Indian Overseas Bank, however, continued feeling the pains as the economy is still showing some stress.
Courtesy: The Economic Times