Bankers said that the Reserve Bank's decision to hike policy rate by 25 basis points will anchor inflationary expectations and policy rate transmission would happen in the coming days.
State-run lender Bank of India (BOI) is expecting its business to grow 8-10 per cent in the current fiscal, an official said here on Saturday.
BoI has an exposure of Rs 200 cr in the PNB fraud case and public sector lender has initiated insolvency proceedings against Nirav firms, said a top official.
BoIhas deferred the Rs 3,000-crore capital raising plan through private placement of equity shares after the government's move to infuse Rs 2,257 crore capital into it.
BoI has put in place an aggressive bad loan recovery strategy and hopes to be out of the RBI's watch list soon, the state-run lender's MD Dinabandhu Mohapatra said.
Bank of India is hopeful of turning profitable by the end of the second quarter ending September of the current fiscal.