IDFC FIRST Bank

[phoenix10386]

Will RBI come to its rescue if it tanks?

RBI would, no doubt. I do not know about this, but I think that considering the government has drastically reduced the reserves of RBI and continues to rape the reserves even further, RBI might not have a lot of wiggle room in its options to do what it must/ ought to to safeguard the citizens.

 

[Jonas]

Most of the banks are in green except for IDFC. Nothing concerning at least yet.

 

[Smh]

IDFC First Bank Q1: Brokerages Point To Weaker Asset Quality

IDFC First Bank saw higher NPAs, increased write-offs and elevated provisions.

www.bloombergquint.com

IDFC First irks investors with infra loan hit on asset quality

IDFC First Bank’s retail bad loan ratio was down to 3.86% in the June quarter from 4.01% in the previous quarter

www.livemint.com

Doesn't look too bad right now, nothing like a complete failure or collapse.

 

[Smh]

IDFC First Bank has marked the account of VIL as stressed and has made provisions of 15 per cent (Rs 487 crore) against the outstanding exposure of Rs 3,244 crore (funded and non-funded).

"This provision translates to 24 per cent of the funded exposure on this account. The said account is current and has no overdues as of June 30, 2021," the lender said in its Q1FY22 investor presentation, referring to the account as "one large telecom account".

Banks to discuss next course of action on debt-laden Vodafone Idea

Lenders to Vodafone Idea (VIL) are expected to hold talks to decide on the future course of action with regard to their exposure to the debt-laden telecom player which is struggling to stay afloat

www.business-standard.com

I don't understand exactly what funded and non-funded account is (why provision for funded account with no overdues?)

This looks very bad.

These two banks face the biggest risk from Vodafone Idea

In aterms of percentage of the loan books, they have an exposure of 2.4% and 2.9% respectively

webcache.googleusercontent.com

 

[Sushubh]

Local branch had big banners today about something like they are now giving interest on saving account on a monthly basis. Not sure if it's opt in or already rolled out on all accounts.

 

[Smh]

It's already rolled out on all accounts. First monthly interest was credited on 31 July.

 

[Sushubh]

8 more useless transactions in yearly statement

 

[Smh]

Decided to move my money to a safe bank, idfc is making me nervous. Took risk with FT MF it didn't turned out well. Even then vodafone exposure was almost lost.

Still keeping little more than MAB, enough for few months big basket offers.

Their app is good, may be will start using this account for managing exprenses instead of saving.

 

[mikrotik]

Yesterday went to one of the branch to enquire about credit and they wanted me to open account before the card. I told them "card dena hai toh do, otherwise I won't jump in this mess".

 

[Smh]

I don't think they are still accepting direct application for issuing cc, only way is pre approved offer based.