Collection efficiency of Yes Bank way below pre-Covid levels: Report


New Delhi, Oct 27 | The trends in the collection efficiency of Yes Bank are way below the pre-Covid levels and this could add to the existing stress book.

Macquarie Research said in a research note that while the retail book had 97 per cent collection efficiency in the pre-Covid times, the number has fallen to 89 per cent in September 2020 post the moratorium.

The similar number for SME book is 94 per cent (pre-Covid) and 83 per cent in September.

“Though the management didn’t share the collection efficiency in the corporate book, it did acknowledge that collection efficiency in the corporate book is much lower than the pre-Covid levels and the overall book,” Macquarie said.

“The trends in the collection efficiency are way below the pre-COVID levels and this in our view could add to the existing stress book”, it said.

The higher Covid-19 provisions have kept the profits subdued. Despite reporting operating profit of Rs 13.6 billion, PAT was just Rs 1.3 billion, largely on account of higher provisions during the quarter.

Out of the total overdue accounts amounting to Rs 90.7 billion (5.4 per cent of loans), accounts worth Rs 40.6 billion are overdue for more than 30 days and another Rs 26.2 billion worth of accounts are in the 31-60-day bucket. Accounts worth Rs 23.9 billion are on standstill which otherwise would have slipped into NPA in the absence of Supreme Court order, Macquarie said.

Retail deposit growth still a concern. While the overall deposits grew 16 per cent quarter on quarter, growth in retail deposits was still lagging behind and stood at 8 per cent quarter on quarter and thus the share of retail deposits declined further to 31 per cent vs 33 per cent in 1QFY21 (37 per cent in 4QFY20).

Macquarie said that on the other hand, share of corporate deposits has inched up to 44 per cent as of 2QFY21 vs 41 per cent in 1QFY21 and 36 per cent in 4QFY20.

“In our view, retail term deposits will be a key number to watch out for as it defines the stability of the deposit franchise and the overall cost of funds for any bank. CASA deposits grew 11 per cent QoQ, largely led by growth in CA deposits. On the liquidity front, daily average liquidity coverage ratio (LCR) stood at 99.7 per cent vs 42.2 per cent in 1Q21. High dependence on corporate deposits remains a cause of concern,” Macquarie said, as it flagged the concerns about Yes Bank.

Source: IANS

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Handicraft Furniture setting a new trend in the interior and home décor industry

Handicraft Furniture setting a new trend in the interior and home décor industry

Furniture is one of the most prominent and significant aspects of any space. It adds a distinct depth and feel to the décor and enhances its beauty to the next level. Conventionally furniture was considered only as a side element while designing an interior. However, today the trend has changed; the limelight is on the furniture and furnishing elements. Young interior designers and architects are giving utmost importance to furniture and are heavily investing their time and efforts to get the best furniture for modern urban spaces.

Antique Handicraft Furniture

Saharanpur – the furniture city of India is renowned for its explicit patterns, wide motifs, and creativity. The city is home to some of the most skilled and proficient artisans and craftsmen. These creative enthusiasts are known for their attention to detail, intricate carving, and eye for perfection. The finishing and look of the furniture created in this city are beyond comparison. Craftatoz is one of the reputed furniture manufacturing companies in India. Established in the year 1989 in Saharanpur, the company has more than 300 trained and skilled workmen. The antique and eternal furniture created by Craftatoz sets the perfect symphony of texture and gives your space a stunning and grandeur appearance.

Furniture artefacts are one of the worthwhile investments. It not only augments the overall appearance of your room but also meticulously sets the whole ambience. The novelty and ethnic feel of antique furniture make it highly popular amongst the masses. The designers and interior decorators are hunting unique and exquisite antique furniture that connects one with the Indian roots. Craftatoz is one of its kind of handicraft furniture manufacturing company striving to preserve the Indian handicraft industry and introducing artistic handicraft furniture that is spectacular and awe-inspiring.

Preserving the art of Handicraft

Handicraft furniture online is a part of Indian heritage and culture from the Britishers time. Handicraft furniture speaks volumes about our rich history and love for art. Handicraft furniture is an integral part of our interiors and gives your premise an elegant touch. However, over the period of time with the introduction of modernization and machine-made furniture, the significance of handicraft furniture has been also affected to a great extent.  Furniture giants like Craftatoz are exerting themselves to promote the artisan’s talent and preserve the art of handicraft. They are bringing handicraft furniture to modern homes and preserving our legacy. Handicraft furniture is a seamless combination of modern art, style, and antiquity. They are unmatched and a true epitome of sophistication.

Handicraft furniture suits your décor and adds more splendor to it

The latest global trend in home furniture and decoration is Handicraft Furniture. Décor with the layer of Indian handicraft products and furniture creates an interesting décor and creates an impeccable melody of texture, color, fabric, styles, etc. Antique handicraft furniture in the form of mirrors, center table, jharokhas, Chandeliers, key holders, table lamps, corner tables, and much more. Handicraft Furniture is true alchemy of style and poise. They are an ideal fit for any modern urban or conventionally designed abodes. The handicraft wooden furniture celebrates luxury and creates a lavish feel.

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Taking furniture industry to newer heights

Like every industry, the furniture industry has also witnessed several ups and downs. The trends in the furniture industry are ever-evolving. There are continuous introductions and upgrades in this sector. However, the heart of the furniture segment is still ‘Handicraft Furniture’ the simplicity, quirkiness, antique touch, regal patterns and immersive feel of handicraft furniture still continue to mesmerize everyone with its grandeur and sheer opulence.

Handicraft furniture is at the pedestal and gaining substantial attention worldwide. They are widely acknowledged as one of the most reputed, credible, and authentic Indian art forms. The handicraft furniture reflects the legacy of the country and opens new avenues for Indian craftsmen and artefacts. Craftatoz with an aim to provide these artists global exposure and widespread Indian culture to every corner of the world brings a well-thought, finely detailed range of handicraft furniture that creates the cult and sets new milestones in the world of online furniture.


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