FROM OUR DESK
The banking sector has kick-started with financial results for the second quarter, amidst ongoing cases of insolvency and bankruptcy that are looking to resolve the bad loan problem the sector is facing. With the results that have already come in and a few more yet to come, it is expected that there will be additional stress on an already burdened banking industry. With the RBI classifying eight consortium accounts of Axis Bank as non-performing assets, there is speculation that there will be an additional Rs 40,000 crore bad loan on an already burdened banking industry. Against this backdrop, banks are increasingly focusing on their retail portfolios – several banks are sprucing up their festive offers to give discounts on loans and waive off charges to avail loans in the Diwali season.