JK ranks first in NATS

JK ranks first in NATS

SRINAGAR: Jammu and Kashmir has secured first rank in National Level Apprenticeship Training Scheme (NATS) for registration of the maximum number of establishments for identifying the seats for unemployed youth for their training under the programme.
According to a statement issued by the Directorate of Technical Education, Jammu and Kashmir, the state managed to secure first rank as the department of technical education registered the establishments on the NCV T (National Council of Vocational Training) MIS (Management Information System) Web Portal with the percentage increasing by 2658 % on National Level.
“The rank has been achieved at a time when other states are having more industrial infrastructure and are having more opportunities to absorb the qualified youth as apprentices,” the statement said.
The apprenticeship training scheme is one of the most important and attractive schemes in terms of quality of training both for industry and qualified unemployed youth. This scheme enhances chances of employment, as it is one of the most efficient ways to develop skilled manpower.
“The State Apprenticeship Advisor/Director Technical Education has awarded the concerned officer/team with a letter of appreciation in a simple but an impressive function, called in this regard at the directorate office here,” the statement added. HDFC bank’s total income up from 19,322.6 cr to 22,185.4 cr for Q1 ended June 30, 2017
SRINAGAR: The board of directors of HDFC Bank Limited approved the bank’s (Indian Generally Accepted Accounting Principles, GAAP) results for the quarter ended June 30, 2017, at a meeting held in Mumbai on Monday. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the bank.
According to an official press note issued here, the bank’s total income for the quarter ended June 30, 2017 was 22,185.4 crore, up from 19,322.6 crore for the quarter ended June 30, 2016. Net revenues (net interest income plus other income) increased by 21.7 % to 12,887.4 crore for the quarter ended June 30, 2017 from 10,588.1 crore in the corresponding quarter of the previous year.
Net interest income (interest earned less interest expended) for the quarter ended June 30, 2017 grew by 20.4% to 9,370.7 crore, from 7,781.4 crore for the quarter ended June 30, 2016, driven by average loan growth of 20.7% and a core net interest margin for the quarter of 4.4%, it added.
Other income (non-interest revenue) at 3,516.7 crore was 27.3% of the net revenues for the quarter ended June 30, 2017 and grew by 25.3% over 2,806.6 crore in the corresponding quarter ended June 30, 2016. The four components of other income for the quarter ended June 30, 2017 were fees & commissions of 2,578.1crore (1,977.9 crore in the corresponding quarter of the previous year), foreign exchange and derivatives revenue of 296.8crore (314.5crore for the corresponding quarter of the previous year), gain on revaluation/sale of investments of 331.4crore (276.9crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of 310.3crore (237.4crore for the corresponding quarter of the previous year), the press note further added.
Operating expenses for the quarter ended June 30, 2017 were 5,367.5 crore, an increase of 12.6% over 4,768.9 crore during the corresponding quarter of the previous year. The core cost-to-income ratio for the quarter was at 42.7% as against 46.2% for the corresponding quarter ended June 30, 2016.
Provisions and contingencies for the quarter ended June 30, 2017 were 1,558.8 crore (consisting of specific loan loss provisions 1,343.2 crore, general provisions 206.3 crore and other provisions 9.3 crore) as against 866.7 crore (consisting of specific loan loss provisions 832.3 crore, general provisions of 1.1 crore and other provisions 33.3 crore) for the corresponding quarter ended June 30, 2016, further read the note.
General provisions include additional provisions of 121.1 crore for standard advances to stressed sectors. Profit before tax was up 20.4% to 5,961.2 crore. After providing 2,067.3 crore for taxation, the bank earned a net profit of 3,893.8 crore, an increase of 20.2% over the quarter ended June 30, 2016, the press note added.

 

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