Cabinet, and the RBI as well as the government will issue directions for speedy resolution of the NPAs. The RBI is likely to mandate banks to make higher provisions out of their profits for stressed assets in the case of unrated companies especially in the road sector, a finance ministry official said.
2.45 PM Apr 28th
Disgraced tycoon Vijay Mallya, who is being probed by the enforcement directorate for allegedly siphoning off funds lent by banks to overseas havens, is believed to have sent fresh feelers for a settlement to the finance ministry. However, it seems unlikely that Mallya will manage an easy exit
9.33 PM Apr 25th
The government will launch the next tranche of sovereign gold bonds on April 24 %u2014the first this fiscal %u2014 offering a 2.5% tax-free annual interest to investors. Applications for the bond will be accepted from April 24 to April 28, the finance ministry said on Thursday.
3.20 PM Apr 21st
There was a vibe in the market about new Non-Performing Assets (NPA) policy by the government. RBI and Finance Ministry are likely to come up with related circular soon, as per the rumours present in the market. But there is not any confirmed news related to the new NPA policy. However, this buzz
9.21 PM Apr 20th
POSITIVE ALERT FOR BANKNIFTY: Bankers have asked the RBI and the finance ministry to tweak the CDR norms, such as allowing turfing out the management and changing the covenants of loan agreements, said executives privy to the discussions. Livemint report in this link.
1.10 PM Apr 17th