:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

BANK GROWTH PICKS UP, LIKELY TO TOUCH 18-20%: ICRA

Positive business sentiment will improve demand for credit offtake from Indian Inc in the second half (October 10-March 11) of the current financial year, said rating agency ICRA. The agency has retained the bank loan growth estimate of 18-20 per cent for FY 2011. “We see no reason to be negative on prospects. Corporate credit pickup will be driven by the use of sanctioned lines and refinancing,” said Naresh Takker, Icra managing director.

The demand for agriculture credit would also improve because of a good monsoon. If some projects are witnessing a slowdown (in credit offtake) they are due to problems relating to environmental and land clearances, he said.

Compared to last year, credit grew at a faster pace in the first half of 2010-11, according to data released by the Reserve Bank of India (RBI). The total outstanding credit of the banking system has risen 5.6 per cent to Rs 34, 22,291 crore since the beginning of this financial year. The credit growth rate in the first half of FY 2010 was 3.5 per cent.

Referring to the change in trend of revision in corporate ratings, the Icra chief executive said downgrades will be much less while upgrades will be more. The improvement means better capacity of repaying loans on the back of business stability. Similarly, the slippages (standard assets turning into non-performing loans) will be less. “Overall delinquency rates will get cushioned by benign environment,” he said.

On the outlook for the telecom sector, he said there may be pressure building up due to intense completion and commitments (payments for spectrum).

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