Key developments from the banking sector: Indian lenders’ exposure to real estate doubled in last 4 years, RBI looking into role of forensic audits to curb frauds and more
The public sector bank, in an exchange filing, had said that the RBI assessed the bank's gross non-performing assets at Rs 1.85 lakh crore in FY19, whereas the bank had disclosed gross NPAs of Rs 1.73 lakh crore.
Investors seem to think that the worst is behind banks when it comes to stressed loans recognition. But that is more hope than reality
Prime Minister Narendra Modi launched the PMMY on April 8, 2015, for providing collateral free loans of up to Rs 10 lakh to non-corporate, non-farm small/micro enterprises with a view to generating employment, and providing access to easy finance to small enterprises.
Jain said that microfinance institutions must broaden their client outreach.
With the information in public domain, experts said that it will bring in transparency on the treatment of stressed accounts by lenders.
Yes Bank also said that its board of directors will meet by end of November to finalize capital raising plans.
Along with restricting inter-corporate loans, the government should also put an end to the practice of omnibus objects clauses
Finance Minister Nirmala Sitharaman introduced the bill seeking as many as seven amendments to the Insolvency and Bankruptcy Code, which provides for resolution of bad loans.
Lenders are demanding complete cash payments through ARC sales to try and ensure their provisioning burden does not go up
Delinquencies in this segment are higher for public sector banks than private sector lenders because of the former's focus on priority lending targets
State-run banks will also benefit if the economy continues to grow at about 7 percent, Andrew Holland, chief executive of Avendus Capital Public Markets Alternate Strategies LLP, said at the Reuters Global Investment 2019 Outlook Summit.
Despite bad loans weighing on their balance sheets, banks have not lost faith in power of enterprise. In absolute terms, industry has been the recipient of a third of all loans disbursed by banks as of July
The move comes in the wake of the Reserve Bank of India forcing over 40 large defaulters into bankruptcy courts
If the government amends the RBI Act to force the central bank to cough up more dividend, it will set a dangerous precedent
The RBI had tightened PCA norms last year, adding to the stress in the sector. Banks’ bad loan provisioning rose after the regulator’s asset quality review in 2015-16
The new complaint puts the spotlight on three loans - a USD 923 million loan to Essar Global, a similar amount lent to Bhushan Steel, and a USD 615.38 million loan to Essar Steel
Its net income stood at Rs 5,814.42 crore during the fourth quarter of 2017-18 from Rs 5,661.70 crore in same period a year-ago, the bank said in a BSE filing.
Its total income was however higher during the fourth quarter of 2017-18 at Rs 2,374.35 crore as against Rs 2,279.65 crore in the year-ago period, the bank said in a regulatory filing.
The Patna Sahib MP, who has been critical of his party as well as the government at the Centre for some time, also took a jibe at the prime minister's "pakoda" remark and borrowers defaulting on huge loans.
India announced on Tuesday a 2.11 trillion recapitalization plan for its state-owned banks over the next two years, in a bid by Prime Minister Narendra Modi to tackle a major drag on the economy that has frustrated his attempts to boost growth.
The Reserve Bank of India has sent the second list of over 40 large corporate defaulters that include Videocon, JP Associates, IVRCL and Visa Steel, among others, to be referred to the National Company Law Tribunal (NCLT), reports CNBC-TV18 quoting sources.
The Union cabinet has approved the setting up of an alternative mechanism, or a panel of ministers, to decide on consolidation proposals for state-run banks.
The more we become 'social', the more we tend to show-off. It leads to more bad loans. It is time to shun bad loans and embrace good loans wherever required.