Private banks have increased its provision coverage ratio (PCR) in the quarter ended March.
MUMBAI: Private banks like Axis Bank, ICICI Bank and IndusInd have shown their conservative side by raising provisions related Coronavirus uncertainties as they see a jump in defaults, but that may not be sufficient to cover all the losses that may come up as the cash flow position of corporates remain precarious after a near two-month lockdown. Every private
these segments. "Though banks with higher provisions are better placed it looks like banks will have to be prepared for higher defaults on both corporate as well as retail side which means more provisions. I am very apprehensive on bank performance for the next few quarters as the disruptions caused coudl start a new cycle of NPAs," Purohit said