COST CUTS, VRS LIFTED BANKS IN `02 (operating expenses of the banks declines by 41 bps)

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  • Source:
    India Business Insight (India), March 18, 2003, 1pp
  • Additional Information
    • Abstract:
      A reduction in the core operating expenses has helped improve the profitability of the Indian banking sector. The operating expenses of the banks declined by 41 basis points (bps) enabling the sector to register an overall increase of 31 bps in profitability. The decline in operating expenses has been attributed to the large-scale voluntary retirement schemes (VRS) and other cost-cutting measures initiated by the banks...