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Diwakar Gupta, retired MD and CFO of State Bank Of India, says: "If you are able to arrest the absolute number, percentages would fall. I don‘t think we have the luxury of that this time around."
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A Credit Suisse report has studied the debt of 3700 companies amounting Rs 32 lakh crore. The report says 37 percent of these companies have interest expenses which are more than their EBITDA
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Diwakar Gupta, former MD & CFO of SBI, said the primary reason behind the poor show on the NPL front is the fact that not much has changed on the ground for PSU banks. Public sector banks need to track credit better to control gross NPLs, he added.
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Overall value of these securities would be up to USD 400 million, according to the notice send by the carrier to shareholders for an extraordinary general meeting to be held on May 16.
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Banking secretary, GS Sandhu has written to RBI governor asking the central bank to review its “stringent†lending rules to infrastructure companies.
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"Having short tenure stands to be a major problem for banks that may be not remedied in the near-term, " says AK Purwar who once served as chairman of SBI.
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While former MD and CFO at State Bank of India Diwakar Gupta said it is difficult to give an exact cost of the operation, former deputy governor KC Chakraborty said he sees no problem in banks spending Rs 18,000 crore on Jan-Dhan Yojana.
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Experts feel the corporate governance in PSU banks is not as strong as private banks and there is lot of involvement and interfering by government officials.
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According to experts, there should be time bound recognition and resolution of bad loans, so that the value of the asset doesn‘t simply erode. Also, there should be performance based compensation as recognition for some good work done.
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Arundhati Bhattacharya on Monday became the first woman to head India's largest bank, the mighty State bank of India. Bhattacharya who takes charge as chairperson was appointed as MD & CFO of the bank after Diwakar Gupta retired.
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Beyond the traditional role of a CFO, today the focus has shifted to integrity, compliance, regulation, cost control and governance. And from there to strategy because strategy today drives bottom-lines to a very large extent, whether you need to merge, divest, or whether you need partnerships and so on
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Speaking to CNBC-TV18, Diwakar Gupta, MD & CFO of the country's largest lender State Bank of India says the biggest problem will be calculation of corporates' un-hedged exposure.
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It is not cartelisation or a wilful action on the part of banks not to pass cuts, said Diwakar Gupta, Managing Director, State Bank of India adding that there were several global banks which had net interest margins in the range of 3 percent.
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Banks may not cut interest rates anytime soon, despite a 25 basis point-reduction in the repo rate, the rate at which RBI lends to banks. Hence, there will be no immediate relief for your equated monthly installments (EMIs) be it for home or auto loans. Similarly, companies will have to wait for some more time to get cheaper loans.
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Diwakar Gupta, MD & CFO of State Bank of India wants a repo as well as a cash reserve ratio (CRR) cut. He further added that the market is expecting the central bank to ease repo rates by 25 basis points.
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The new draft rules of restructuring will help to build in additional contingencies opines managing director and chief financial officer of State Bank of India, Diwakar Gupta.
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Diwakar Gupta, MD & CFO of State Bank of India informed that they are undertaking road shows to focus on under valuation of public sector banks and to attract foreign institutional investors.
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Country's biggest lender State Bank of India (SBI) gained as much as 0.87 percent to Rs 2,392 on Thursday after the bank said the government has cleared fund infusion of Rs 3,004 crore.
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Diwakar Gupta, MD & CFO, State bank of India doesn‘t expect the Banking Amendment bill to have much impact on the bank if it goes through in the Parliament.
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State Bank of India, the lead banker in the 17-lenders consortium that extended Rs 7,000 crore loans to the now grounded Kingfisher Airlines, today said the banks are "trying to do everything to find an amicable solution" to the carrier's financial troubles.
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Besides announcing a cut in the CRR, the Reserve Bank also raised provisioning on restructured assets to 2.75 percent from 2 percent earlier. How will this impact SBI?
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No discussion on India‘s banking sector is ever complete without a mention of India‘s largest public sector bank, the State Bank of India. SBI has taken initiative to help its employees in making better investment choices.
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Diwakar Gupta, MD & CFO of State Bank of India (SBI) says a three-year delay for an infrastructure project could be lead to it becoming "completely unviable".
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In an interview to CNBC-TV18, Diwakar Gupta, managing director and chief financial officer of SBI says asset quality remains a concern at this point. "Coal blocks cancellation will raise concern on many projects," he adds.
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Diwakar Gupta, MD & CFO, SBI said the rate cut will stimulate demand for homes and autos but won't impact the company's margins in a big way.
