Forum's president Sneha Mhatre and member Madhuri Vishwarupe recently held that SBI's Thane main branch was right in recovering the difference in the interest rate on the personal loan as the loanee had in their agreements at the time of obtaining the loan sought a "floating rate of interest".
Bankers will soon act on the 28 defaulters identified in Reserve Bank of India's second list and haul them to the National Company Law Tribunal (NCLT) for resolution under the Insolvency and Bankruptcy Code (IBC).
The move comes nearly 16 months after activist Commodore (retd) Lokesh Batra raised the issue that the window envelopes used by SBI make it easy for someone to glance through permanent account number (PAN) and contact number of the tax payee and misuse it.
ICICI Direct is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 390 in its research report dated November 23, 2017.
Banking sector reforms continued this week.
Banks will have to ensure those bidding for the asset and the resolution have to be credible to save the the asset from liquidation, said country's largest bank head.
HDFC Securities is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 373 in its research report dated November 11, 2017.
Additional NPAs grew the highest in March 2016 at Rs 1.39 lakh cr over Dec 2015 quarter and the second highest in June 2017 over March 2017 quarter at Rs 1.17 lakh cr
In an exclusive interview with Moneycontrol's Beena Parmar, Bahuguna believes there should be a greater scope for new investors to enter and provide additional funding to companies under the IBC.
The rating agency has upgraded the ratings for the four financial institutions to Baa2 from Baa3.
The country largest lender, State Bank of India (SBI) has started the process of selling non-performing assets (NPAs) worth Rs 1,580 crore to financial institutions.
Last week, the country's largest lender, SBI, reduced its lending rate for home and auto loans by 0.05 percentage point.
India's top lender, with assets of more than $500 billion, was catapulted into the league of the top 50 global banks this year after it merged five subsidiary banks with itself.
"If you look at the bond yields, they have gone up in the recent past. So, I think the headroom available for cutting down the interest rates, both deposit and lending (seems limited). Deposit rate unless you cut you cannot cut lending rate ... for time being we are in for much more stable interest rate," he said.
Business tycoon Sajjan Jindal, promoter of JSW Group, which is among the domestic suitors to buy stressed steel assets, has called for disallowing dubious promoters to bid to prevent misuse of the Insolvency and Bankruptcy Code (IBC).
Last week, SBI, country's largest bank, had announced its reduced rates to home loan and auto loan borrowers with rates of 8.30 percent and 8.70 percent.
The SBI chief said that very often the issue our credit committee will face is that if you don't do this business at a particular price it will go to other banks and that is when the question of protecting turf arises.
Banking sector during the week saw more of disappointing news of job cuts, bad loans and NPA divergences raising questions on bank auditors. Further public sector banks reported losses due to rise in bad loans
"The government had announced the recapitalise the public sector banks to the tune of Rs 2.11 lakh crore. SBI, being the biggest among them, expects to get a substantial portion of that", a senior official of the bank said.
The reduction in marginal cost of funds based lending rate (MCLR) came after a gap of almost 10 months. The bank had last cut the rate on January 1.
The event comes three months after Amtek Auto, one of the 12 debt-ridden firms identified by the Reserve Bank of India (RBI), was taken to bankruptcy court.
These funds will also help in efficiently managing risk and credit capital related requirements of the banks, he said.
With banks burdened with a spike in bad loans and shortage of capital availability, the government may push the RBI to help them in meeting capital requirements.
GST will formalise the unorganised micro, small and medium sector enterprises (MSME), helping banks to get data on the borrowers' cash flows and repayments thereby easing fund access to the segment.
The first woman chairperson of State Bank of India retired last week