You are here: Home » Economy & Policy » News
Business Standard

Covid-19 impact: Karnataka Bank expects to recast less than 4% loans

Borrowers have to establish stress due to Covid-19 for financial profile.

Karnataka Bank | Coronavirus

Abhijit Lele 

Karnataka Bank
Karnataka Bank | Photo: Wikimedia Commons

expects less than 4 per cent of loans to come up for one-time restructuring because of the Covid-19 pandemic. Its loan book stood at Rs 54,099 crore at the end of September 2020.

The Mangaluru-based private lender is talking with two consortium accounts — where it has exposure of Rs 300 crore in trading, and Rs 200 crore infrastructure accounts — for OTR, said its Managing Director & CEO Mahabaleshwara M S.

Borrowers have to establish stress due to Covid-19 for financial profile. The economic fallout due to the Covid-19 pandemic has led to significant financial stress for borrowers across the board.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 15 2020. 00:34 IST