BoI reports net profit of Rs. 561 crores in Q1
Bank of India announced its results for Q1FY23 reporting net profit at Rs. 561 crores and operating profit at Rs. 2,183 crores. On Asset quality front, GNPA ratio improved by 421 bps YoY from 13.51% in Jun’21 to 9.30% in Jun’22. The Net NPA ratio improved by 114 bps from 3.35% in Jun’21 to 2.21% in Jun’22. Provision Coverage Ratio (PCR) stood at 87.96% as against 87.76% in Mar’22 and 86.17% in Jun’21. Net Interest Income increased by 29.51% YoY and NIM (Global) improved by 39 bps YoY. On the individual front, Retail Credit grew by 22.45% YoY; Agriculture Credit grew by 16.40% YoY and MSME Credit grew by 7.96% YoY. Global Business grew by 7.74% YoY to Rs.11,18,481 Cr in Jun’22. Global Advances grew by 15.20% YoY to Rs. 4,77,746 Cr in Jun’22. Domestic Advances increased by 9.72% YoY to Rs.4,01,210 Cr in Jun’22.
DRT recovers over Rs 3.5 Cr
Taking action under the recovery process of the Debt Recovery and Bankruptcy Act, the Debt Recovery Tribunal, Ranchi has recovered an amount of more than Rs. 3 crore 5 lakh from M/s Mangalam Fiscal Services, Bokaro. According to the recovery officer of the tribunal, Kanhaiya Kumar, the debtor had a long outstanding debt of more than Rs 10 crores to the State Bank of India, for the recovery of which under the public auction process by taking possession of the property mortgaged by the company more than three crore rupees were recovered. This recovery has been done on the request of the bank by the Tribunal while taking action under the recovery process. Today, the recovery officer of the tribunal, Kanhaiya Kumar handed over a cheque of Rs. 3 crore 5 lakh to the officer of State Bank of India, stressed asset management branch, Kolkata, Palash Roy in his office.
Three-day mega expo from Sept 7
Ace Exhibition and M7 Creations are presenting the global innovative India Industrial Manufacturing Mega Expo and Mega Green Vehicle and Smart Mobility Expo respectively at Pragati Maidan. The incline exhibition has been set to take place on September 7th–9th, 2022. The seminar consists of several leading manufacturing and green and clean transportation shows. The profusion of ingenious industry leaders across several informative verticals intersects to showcase their products, technologies, services, as well as solutions in their respective industries. Mega Expo 2022 is a three-day interactive international platform converging through the industry ecosystem, providing diverse systems for the benefit of business buyers and investors, corporate visitors, and tech experts, and welcoming the public on a large scale with enormous information.
Science Week concludes in Lohardaga College
Science Week ended on Tuesday at Manohar Lal Agarwal Saraswati Vidya Mandir Inter College, Lohardaga, on the occasion of the birth anniversary of chemist Prafulla Chandra Rai. It started on July 25. Meanwhile, plantation, eco brick making, documentaries, information on medicinal plants, exhibits and finally, on the concluding day, a speech competition was organized. Shaba Parveen of class XII became the winner in the speech competition on the biography and achievements of Prafulla Chandra Rai. The second place was bagged by Sanjana Lakra and the third place was won by Vinay Rawani. The judges were played by Preeti Kumari Gupta and Riddhi Mishra. It was conducted by Yashoda Kumari and Principal Uttam Mukherjee honored all the winners by presenting them with prizes and certificates.