Consolidated Profit after tax increased by 22 per cent YoY to Rs 4,468 crore as against Rs 3,670 crores last year.
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The rating agency noted that the advisories being put out by the RBI concerning non-bank financial institutions (NBFIs) in the recent past have highlighted the compliance gaps in the sector
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Generally, whenever we make expectations related to deposits and advances, we do it conservatively, but the results always outperform our expectations, says K Satyanarayana Raju, MD & CEO, Canara Bank.
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While the RBI’s unforgiving action spotlights the regulatory body's resolve to enforce strict financial discipline, the heart of the controversy lies not in the RBI's right to enforce but in the selectivity and severity of its enforcement on just one large player, writes Dilip Cherian
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