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Private banks build provision buffers to counter future slippages from covid-19

India city Mumbai covid-19 testing pandemic shock
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Mumbai: India’s private sector lenders are building a war chest of provisions that would come handy in cushioning against future asset slippages owing to the covid-19 pandemic.

While Axis Bank has pegged its covid-19 provisions at ₹3,000 crore, ICICI Bank said it has set aside ₹2,725 crore in the March quarter and HDFC Bank made additional provisions of ₹1,550 crore in the wake of the pandemic.

The Reserve Bank of India (RBI) has asked banks to set aside 10% of the outstanding loans where the three-month moratorium was given.

This has to be done in two tranches of 5% each in the March and the June quarter. According to Sashidhar Jagdishan, head of finance at HDFC Bank, the lender has enough buffer of credit reserve to be able to withstand

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United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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