Bandhan Bank: down 7.24% as Rs 23,300-crore loans go under evergreening review
The National Credit Guarantee Trustee Company (NCGTC) is reviewing loans worth Rs 23,300 crore that Bandhan Bank lent out under credit guarantee schemes, leading to a more than 7 percent plunge in Bandhan Bank’s shares to Rs 200 each. Doubts about evergreening practices, which involve extending new or additional loans to borrowers unable to repay existing loans, are the reason behind the review. Concealing the true status of non-performing assets (NPAs) or bad loans is the purpose of this practice.
LIC: down 2.41% even after strong Q3 earnings
Last week, LIC announced robust earnings for the quarter ended December 2023, with a 49 percent year-on-year surge in net profit to Rs 9,441 crore. The impressive performance was fueled by a rise in net income from investments and an increase in net premium income. In Q3FY24, LIC’s net premium income showed a growth of 4.67 percent year-on-year, reaching Rs 1.17 lakh crore.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
How useful was this post?
Click on a star to rate it!
Average rating 0 / 5. Vote count: 0
No votes so far! Be the first to rate this post.
Spread the love
Open Free Demat Account!
In just a few minutes, Simply provide some basic personal details, to get started.
As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for investors to remain updated and well-informed about various aspects of investing in the securities market. In this connection, please find a link to the BSE Investor Protection Fund website where you will find some useful educational material in the form of text and videos, so as to become an informed investor.