The critical situation of the financial market has started taking its toll on a lot of companies. The financial services company Bajaj Finserv has shown losses during the period July to September.
The Managing director of the company confirmed the slowdown and pressure on margin in his statement: "Yes, we are seeing a slowdown in the sector. Industry growth has slowed down".
Bank of India has shown a 80 percent increase in net profit during the period July-September with both interest and Non-interest incomes going up. The bank has registered a profit of Rs 7.63 billion as against Rs 4.25 billion last year. Also the total income has shown a rise from Rs 36.03 billion last year to Rs 46.12 billion. While the net interest income rose to Rs 13.63 billion against Rs 9.86 billion a year back, whereby improving the net interest margin from 3.04 percent a year back to 3.2 percent now.
