: BIZ SCAN #FinanceIndia #StockMarketNEWS #Business Canara Bank conducts KCC camp in MandremPANAJI: To encourage the dairy farming in the state and create awareness among local milk farmers of the benefits

@StockMarketNEWS Sun 02 Aug, 2020

Posted in: #Business #FinanceIndia #StockMarketNEWS

BIZ SCAN #FinanceIndia #StockMarketNEWS #Business
Canara Bank conducts KCC camp in MandremPANAJI: To encourage the dairy farming in the state and create awareness among local milk farmers of the benefits of Kisan Credit Card (KCC) officials of Canara Bank, Mandrem branch, conducted a camp and distributed KCC sanction letters to 16 famers. Branch manager Dhanajay Patil, addressed the gathering about the Kisan Credit Card (KCC) Saturation campaign and requested farmers to take benefit of the same. The chairman of the local milk union also participated in the programme. The Government of India launched the second phase of KCC Saturation campaign recently envisaging issue of 1.5 crore KCCs to dairy farmers belonging to milk unions and milk producing cooperatives in the country. The KCC camp in Mandrem was conducted under the guidance of Canara Bank regional office. NT

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Manappuram’s Q1 net profit up 38% at Rs 368 crVALAPAD (THRISSUR): Manappuram Finance Ltd. reported consolidated net profit of 367.97 crore in its first quarter results, an increase of 37.93 per cent over266.78 crore recorded in the year ago quarter. Net profit in the quarter for the standalone entity (which excludes subsidiaries) is reported at 369.11 crore. Consolidated profits have declined by 7.59 per cent in comparison to the preceding quarter (Q4 of FY 2019-20), reflecting the impact of COVID-19 and the lockdowns. Total consolidated operating income during the quarter stood at1,512.53 crore, an increase of 27.03 per cent in comparison to 1,190.69 crore reported in the year ago quarter. Consolidated assets under management (AUM) grew by 25.56 per cent to25,345.83 crore, from `20,185.94 crore reported in the year ago quarter. Mr. V.P. Nandakumar, MD & CEO, said, This was a quarter when the overall business environment was severely affected by the lockdowns. However, we were able to maintain growth in our core business of gold loans thanks to our digital infrastructure, particularly our robust online gold loan platform. NT