"The resource is limited. The assessment helps us creating a roadmap on how best the resource can be allocated keeping special focus on less developed districts," Nabard's chief general manager in Kolkata Subrata mandal told ET. Nabard has unveiled the state focus paper for 2020-21 on Friday.
It has recently launched All-in-One QR for merchants across the country to accept unlimited payments through Paytm Wallet, Rupay Cards and all UPI based payment apps directly into their bank account free of cost.
Chennai-based Indian Bank is anchoring the merger with Allahabad Bank.
Some other non-anchor lenders in the mega merger exercise have also requested the government for new names and logo, unlike in the Bank of Baroda-Dena Bank-Vijaya Bank exercise, wherein the logos of all three lenders have been retained.
Under the scheme, the bankers' body has offered to pay 14 extra days of salary for staff of lenders that show a 10-15% increase in operating profit and 21 days for banks that report more than 15% rise in operating profit. IBA was earlier in favour of taking both operating profit and RoA as key metrics for defining organisational performance.
Allahabad Bank and Indian Bank will be merged from April as part of the mega merger exercise.
At present, Allahabad Bank holds 28.52% in the JV while overseas partner Sompo Japan is the largest shareholder with 34.61% interest.
Warburg has invested Rs 360 crore in the Fusion, while Creation has put in Rs 160 crore.
Rajive Kaul and daughter Pallavi Priyadarshini have been Nicco Corp’s nominee directors at Nicco Parks & Resorts. The bankruptcy court’s Kolkata bench in a December 18 order told the two, who were promoters of Nicco Corp, to leave the positions. Pallavi got a stay on the part of the order concerning her.
The bank has set a target of Rs 2,700 crore retail loan disbursement under the overall plan and is focusing on home loans, car loans and gold loans to achieve this. The balance Rs 1,300 crore will be lent to micro, small and medium enterprises (MSMEs).
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