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DCB Bank Q1: Profit Jumps 36% To Rs 213 Crore As Asset Quality Improves, Provisions Fall

DCB Bank Ltd. reported a 35.5% year-on-year rise in first-quarter net profit as lower provisions and improving asset quality offset pressure on margins. The private lender posted a net profit of Rs 213 crore for the quarter ended June 30, compared with Rs 157 crore a year earlier, according to an exchange filing on Friday. Net interest income rose 17.7% to Rs 684 crore from Rs 581 crore in the corresponding quarter last year. Asset quality improved sequentially, with the gross non-performing asset ratio easing to 2.43% from 2.45% at the end of March, while the net NPA ratio declined to 0.84% from 0.89%. ALSO READ:  DCB Bank Q4 Results: Net Profit Jumps 16% To Rs 206 Crore; Dividend Declared Provisions more than halved to Rs 57 crore from Rs 115 crore a year ago and fell from Rs 69 crore in the preceding quarter, supporting earnings growth. The bank said advances grew 17% year-on-year, while deposits increased 20%, reflecting continued business momentum. Capital adequacy r...

Ex Wrestler's Big Charge Against Panel Member Probing #MeToo Allegations

Former wrestler Babita Phogat on Tuesday claimed that fellow oversight committee member Radhica Sreeman snatched the final report on sexual harassment allegations against WFI chief Bri Bhushan Sharan Singh from her before she could read the findings in full, a charge vehemently denied by the former sports administrator.

Babita, who was included in the government's probe panel to investigate the allegations on the insistence of protesting wrestlers, alleged that she had some objections but Radhica did not let her read the report in full.

"I had read just a few pages of the final report and I had some objections but Radhica Sreeman came and snatched the report. She said since I belong to the same family (Phogat), that is holding the protest, I can't read the report," Babita told PTI.

"She was working on behalf of the chairman (Mary Kom) and told me that the chairman has taken a decision (on signing of the report)." When contacted by PTI, Radhica dismissed the charge as "ridiculous".

"Why will I do that? What benefit I will accrue by doing something like that. In fact she read the report 4-5 times and agreed to the findings. Each and every word that was written in the report, was explained to her," Radhica said.

"Whatever was written in the report is based on testimonies of all those who appeared in the hearing and everything is video recorded, it can't be tampered with. If at all I snatched the report from her why didn't she write that in her dissent note," questioned the veteran administrator.

"This is a baseless charge. In fact on the eve of Holi, all the members sat and whatever was being drafted, based on the hearings, Babita was explained each and every word and she was satisfied." Radhica also said that all members of the committee were requested to assemble at SAI headquarters on April 4 for the signing of the report, but Babita did not turn up.

"Even her phone was switched off that day. She said her baby was unwell so we asked her to come on April 5 and sign the report. Since everyone else had arrived on April 4, the chairman (Mary Kom) decided that members who are present can sign the report and Babita can do that later," explained Radhica.

The government had formed the oversight committee, headed by legendary boxer MC Mary Kom, to look into the allegations levelled by the wrestlers, including Vinesh Phogat, Sakshi Malik and Bajrang Punia.

Others in the six-member panel included former wrestler Yogeshwar Dutt, former shuttler Trupti Murgunde, Radhica and Rajesh Rajagopalan, ex-CEO, Target Olympic Podium Scheme.

The panel submitted its report on April 5 but the government has not yet made public its findings.

However, PTI has learnt that the probe panel has given Brij Bhushan a clean chit with a 5-1 verdict.

As the wrestlers returned to Jantar Mantar to resume their protest and approach the Supreme Court, Vinesh said Babita is more worried about her political career than the cause of the wrestlers.

When asked why she has not visited the protest site, like she did the last time in January, Babita said, "I was with the wrestlers and will remain with them. I am under no political pressure."

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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