The NPA ratio of 38 banks increased to 10.21 percent in June 2017 from 8.42 percent in June 2016, which is the highest in the last six quarters, according to a data report compiled by Care Ratings.
"It is worrisome that the level of NPAs in the MSME sector has touched 16 per cent. We are trying to solve the problem", CGM of SBI (Bengal circle) Partho Pratim Sengupta said.
Out of these 12 accounts, nine have already been referred to the NCLT, while Lanco Infra, Jaypee Infratech and Era Infra are yet to be admitted.
The Chennai-based lender is also targeting to improve its net interest margin to 3 per cent from 2.79 per cent now.
The Banking Regulation (Amendment) Bill, 2017, which replaces Banking Regulation Ordinance, was passed in the Lok Sabha on Thursday
Chairman and founder of Bandhan Bank, Chandra Sekhar Ghosh said that credit growth during the first quarter witnessed 35 per cent growth at Rs 21,389 crore year-on-year and deposits saw 51 per cent growth at Rs 22,439 crore.
Keki Mistry said HDFC will file the red herring prospectus for HDFC Life IPO by October and aims to launch the issue this year itself
Yes Bank reported better than expected earnings for the quarter ended June 30 mostly on all the key parameters and the asset quality has also shown considerable improvement on a quarter-on-quarter basis (QoQ).
Despite increasing number of students not paying back their loans spiking NPAs to over 10 percent, lending continues for higher education with the disbursals topping Rs 20,000 crore in fiscal 2017, according to a report.
GMR Rajahmundry's lenders include nine banks such as IDBI Bank and IDFC.
Last year, the ministry provided capital to banks in two tranches. As many as 13 public sector banks together got Rs 22,915 crore in the first tranche announced in July 2016.
These 50 companies are from the metals (30 per cent of total debt), construction (25 per cent) and power (15 per cent) sectors, and account for half of the Rs 8 lakh crore non -performing assets (NPAs) in the banking system as on March 31, 2017.
On July 17, the Gujarat High Court dismissed Essar Steel's petition against the Reserve Bank of India (RBI).
The extant prudential NPA norms were brought in after extensive consultations and were based on the report of the Committee headed by M Narasimham on Banking Sector Reforms, Minister of State for Finance Santosh Kumar Gangwar said in the Rajya Sabha.
Axis Bank’s gross bad loans have jumped the steepest in the industry by over 350 percent in the last five quarters.
In the last couple of weeks, at least three of the 12 companies including Bhushan Steel, Amtek Auto, Era Infrastructure Engineering have seen immediate changes in their top management.
Arguing before Justice S G Shah, the central bank's counsel Darius Khambatta also said that the non-performing assets (NPAs) of Essar Steel rose from Rs 31,671 crore on March 31, 2016 to Rs 32,864 crore on March 31 this year.
As of March 31, 2016, the bank had reported gross non- performing assets (NPAs) or bad loans to the tune of Rs 24,875.07 crore, according to the bank's annual report for 2016-17.
In the report, the bank also mentioned that there was a divergence in the bank's provisions for FY16. IDBI had kept aside Rs 10,232 crore in provisions, while the RBI had estimated it to be around Rs 12,292 crore
The SBI chief, which was in the process of making NPA resolutions of large corporate accounts, said that when loans were given when the GDP growth was 8.5 percent it was not expected that the accounts would not turn bad
The ordinance, promulgated in May, empowers the Reserve Bank of India (RBI) and banks to initiate bankruptcy proceedings against chronic defaulters
The ministry has been asking banks to take tough action against such borrowers and be ready to fight court cases as well, official sources have said.
Only 12 companies have come up so far, but the central bank will announce a second, third and fourth list in due course.
The court has also directed the Reserve Bank of India (RBI) to explain what it meant by according priority to the 12 cases of insolvency by the National Company Law Tribunal (NCLT), Business Standard reports.