Union Bank Q4 Loss Narrows | Rajkiran Rai To ET NOW
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Q1 is seasonally low growth for the banking industry, the slowdown will be more due to lockdown and COVID. We are currently reaching out to existing customers to enhance credit flow; April was a bare minimum month, May started picking up, June is almost back to normal. We are looking at 9K Cr additional lending post guarantee scheme to MSME. Existing customers will gain access to enhanced limits backed by govt guarantee. Agriculture and MSME is where we see the largest chance of pick up/green shoots. The moratorium is a very evolving situation, 25% is currently availing moratorium. We see that most of these customers are paying up as they are opening up. Should start seeing larger recoveries from July onwards till the end of august from SMA 1& 2 accounts, says Rajkiran Rai, Union Bank. Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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