Bank of Maharashtra Quarterly result

Bank of Maharashtra reported disappointing results with 90% growth in its Gross NPA at Rs.2450.48 crore (YoY) and 71.78% decrease in its Net Profit at Rs.46.85 crore (YoY). The Non-Interest Income grew 3.31% at Rs.183.07 crore. Net NPA stood at 1.76% compared to 0.88% YoY. The Capital Adequacy Ratio stood at 10.71%.

RBI monetory policy

Mr. Raghuram Rajan, the RBI Governer in his Monetray Policy review announced today REPO rate is hiked by 25 bps to 7.75%, CRR is left unchanged at 4%, Bank rate is reduced to 8.75%