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Friday
November 2020
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News Headlines
End of an era: Argentina football legend Diego Maradona dies        Greg Barclay elected ICC's Independent Chair        Have great respect for Indian bowlers but our batsmen have seen them a lot: Langer        Rupee rises 6 paise to 73.95 against US dollar in early trade        Biden seeks swift Cabinet votes, but GOP Senate stays silent        As virus cases spike, financial outlook for world's airlines dims        Nivar makes landfall, weakens into severe cyclonic storm        Senior Congress leader Ahmed Patel passes away at 71        India's COVID-19 caseload goes past 92 lakh; no. of active cases increases by 6,079        Left Govt moves ahead with projects having no central clearances: Chennithala        Kerala Cabinet decides to approach Governor to repeal new ordinance        Kerala reports 5,420 new COVID cases, 5,149 recoveries: CM        Cyclone Nivar : heavy rain lashes Chennai, suburbs, govt holiday today        UP okays ordinance against conversion for marriage, violators face up to 10 yrs in jail        Govts have to work as team to ensure vaccination drive is smooth, sustained: PM Modi        ICC nominates Kohli, Ashwin for Men''s Player of the Decade Award        Rohit, Ishant to miss first two Australia Tests, also doubtful for remaining two: BCCI source        India''s home series against England to feature four Tests instead of five        Odisha pay the penalty as Hyderabad keep first-ever clean sheet        Looking at India squad, Surya could have been there: Brian Lara        
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Business News
Kotak Mahindra Bank Q4 profit down 4 pc to Rs 1,952 cr
 
New Delhi, May 13 (PTI) Kotak Mahindra Bank on Wednesday reported 4 per cent decline in consolidated net profit at Rs 1,951.82 crore for the fourth quarter ended March 2020 due to COVID-19 related provisions.

The private sector lender clocked a profit of Rs 2,038.27 crore in the same quarter of the previous financial year.

Total income declined to Rs 12,084.71 crore during the latest quarter, down from Rs 13,823.33 crore in the year-ago period, the bank said in statement.

During the quarter, the standalone profit also came down by 10 per cent to Rs 1,267 crore as compared to Rs 1,408 crore in the same period a year ago.

However, total income grew to Rs 8,294.07 crore as against Rs 7,672.56 crore in the year-ago period.

Gross non-performing assets (NPAs) or bad loans of the lender were 2.25 per cent of the gross loans as on March 31, 2020, slightly up from 2.14 per cent at March-end 2019.

However, net NPAs were marginally down at 0.71 per cent from 0.75 per cent a year ago.

"Advances as on March 31, 2020 were up 7 per cent to Rs 2,19,748 crore as against Rs 2,05,695 crore as on March 31, 2019. Bank has made a COVID-19 related general provision of Rs 650 crore, which is higher than the RBI requirement. Total provisioning towards Advances (including specific, standard and COVID-19 provisions) is higher than the GNPA of the bank," it said.

In accordance with the RBI circular dated April 17, it said, the board of directors of Kotak Mahindra Bank has not recommended any dividend for 2019-20.


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KERALA NEWS
Left Govt moves ahead with projects having no central clearances: Chennithala
 Thiruvananthapuram: Opposition leader in Kerala Assembly Ramesh Chennithala on Tuesday alleged that  
Kerala reports 5,420 new COVID cases, 5,149 recoveries: CM
Ker FM hits out at ED over reported probe against KIIFB; Opp says he has "something to hide"
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INTERNATIONAL NEWS
Biden seeks swift Cabinet votes, but GOP Senate stays silent
 Washington: As President-elect Joe Biden started rolling out his administrative team, one voice has
As virus cases spike, financial outlook for world's airlines dims
Biden's first Cabinet picks expected Tuesday amid roadblocks
Hong Kong's Joshua Wong to plead guilty to protest charges
NATIONAL NEWS
Nivar makes landfall, weakens into severe cyclonic storm
 Chennai: Very severe cyclonic storm Nivar made landfall near Puducherry in the early hours of Thursd
Senior Congress leader Ahmed Patel passes away at 71
India's COVID-19 caseload goes past 92 lakh; no. of active cases increases by 6,079
Cyclone Nivar : heavy rain lashes Chennai, suburbs, govt holiday today
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