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Impavid Bulletin

banking

Of the total 12, three lenders - State Bank of India (SBI), Punjab National Bank (PNB) and Bank of India - reported fall in profits ranging from 7-70%. Decline in profit by these lenders has been attributed to Mark-to-Market (MTM) losses due to hardening bond yields.

HDFC has received approval from the National Housing Bank (NHB) for its merger with subsidiary HDFC Bank, a regulatory filing said on Tuesday.

In another statement, it said a penalty of Rs 7 lakh has been imposed on Indapur Urban Cooperative Bank, Indapur (Maharashtra) for contravention of certain provisions related to exposure norms.

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The provision coverage ratio of the PSBs, a measure of health that captures amounts set aside to cover bad loans, has improved to 86.9% at the end of March 2022 from 46% at the end of March 2015. The state-run banks have recovered ₹5.17 lakh crore in non-performing assets (NPAs) and ₹1.24 lakh crore in written-off accounts since FY15.