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Yes Bank net profit rises 25.1% in Q2

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Mumbai, Oct 26 (IANS) Yes Bank Ltd on Thursday reported a 25.1 per cent increase in its net profit to Rs 1,002.73 crore for the quarter ended September 30, 2017 as compared to Rs 801.54 crore in the corresponding period last year.

The lender’s net interest income for the September quarter was at Rs 1,885.1 crore, up by 33.5 per cent year-on-year, driven by steady growth in advances, CASA and expanding margins.

It also reported that its net interest margins expanded to 3.7 per cent for the quarter under review from 3.4 per cent in the year-ago period.

“Bank’s retail banking advances have posted robust growth of 78 per cent year-on-year to 11.4 per cent of outstanding book and sustained momentum in CASA accretion gives us the confidence to achieve our target CASA ratio of 40 per cent by September 2018, well ahead of our earlier target date of March 2020,” the lender’s Managing Director and CEO Rana Kapoor said.

The lender’s total capital adequacy was at 17.8 per cent and return on assets stood at 1.7 per cent.

As on September 30, 2017 its gross NPA in absolute term was at Rs 2,720.34 crore as against Rs 916.68 crore in the year-ago.

It also reported its net NPA stood at Rs 1,543.26 crore by the end of the second quarter of the current fiscal, as against Rs 323 crore by the end of the same period last year.

“The increase in NPA and consequent provision is in conformity with RBI’s Annual Risk Based Supervision (RBS) exercise conducted for FY2017 (finalised in October 2017). The Bank has fully absorbed the impact of such re-classifications in the results for Q2FY18 (Second quarter of 2017-18),” the lender said.

Kapoor said the bank’s asset quality continued to demonstrate resilience after duly incorporating the full impact of the RBI Risk Based Supervision (RBS) observations for FY17, concluded in October 2017.

–IANS
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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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