India's HDFC Bank says not much pressure on asset quality
MUMBAI Jan 18 (Reuters) - India's HDFC Bank is not seeing much pressure on asset quality, although there may be an uptick in bad loans for some products, Executive Director Paresh Sukthankar said on Friday.
The bank is also seeing "renewed, intensified competition" from several banks on retail loan products, he added.
Earlier, HDFC Bank, India's No.3 lender, met forecasts with a 30 percent rise in quarterly profit on Friday, led by higher loan growth, better fee income and stable asset quality. (Reporting by Swati Pandey; Editing by Anand Basu)
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Jan Dhan Yojana
Prime Minister Narendra Modi will promise on Thursday to provide a bank account for every Indian household when he launches a major initiative that could save billions of dollars in welfare spending and help mend strained state finances. Full Article