All the Banks including IBN have NPA's yet to be written off. The progress is extremely slow as their annual income growth is not sufficient to cover dividends and the write down of these NPA's
It will take them atleast twomore years. Meanwhile, they are under pressure to lend large amounts to Companies seeking infrastructure loans which will once agin result in more NPa's as historically Telephones , roads and Trnsport have been steady money losers.
Yes, an important Bank that is used to transfer wealth from the NRI's & foreigners to its cronies. using the NPA technique which dominates Banking in India..
The banks growth performance is pathetic.
To get higher premiums it lent very large loans to Cronies of the Govt whose bonafides were doubtful. As a result, it is saddled with NPA's that will take atleast 3 years to wittle down to zero.
The present CEO needs to be replaced with new blood as her performance has been sub par. Hedge funds shorting are only exploiting the stupidity of Mgmt..
The market for Bulls just prior to the monsoon is quite flat as the animals are required for ploughing the fields.
However it does pick up after the monsoon if that is on time etc.