The regulator said the insurers with exposure to Anil Ambani-run Reliance Capital's subsidiaries--Reliance Home Finance and Reliance Commercial Finance--will have to make provisions for debt of these companies which were downgraded by Care Ratings last month.
A bench headed by Chairman Justice S J Mukhopadhaya lifted the embargo on the banks to declare the accounts of the debt-ridden IL&FS and its 300 group entities, which are unable to pay their debt.
On April 26, the bank reported its first-ever quarterly loss since its inception in 2004 at Rs 1,506 crore in the January-March quarter.
Yes Bank watchlist also highlights the failure of credit rating agencies and analysts to spot anomalies and catch red flags on defaults and stress early on.
Against the backdrop of the Supreme Court quashing an RBI circular, issued on February 12, 2018, a revised set of rules is under works and would be released soon, they added.
It was also important for RBI to ask banks to make this disclosure as it bids to regain the higher ground after recent setbacks
Mumbai-headquartered infra lender and its 348 group companies owe over Rs 94,000 crore, of which over Rs 54,000 crore are owed to banks.
New investment proposals in 2018-19 stood at a 14-year low, primarily attributable to a dip in the share of private sector investments.
Senior advocate Gopal Jain, representing the RBI, submitted before the NCLAT that true reflection in the books of the banks is important for fair accounting because it has early warning signals.
Sakshi Batra does a 3 Point Analysis to understand the impact of the SC judgement.
The banking system will close FY19 with gross non- performing assets of 10.3 percent, ratings agency Crisil said Monday in its half-yearly report on credit movements.
In the last four years, with large capital infusion from the government, the state-run banks have been able to recognise and provide for their stressed assets with a steady decline in their gross NPAs (GNPAs) and net NPAs (NNPAs).
The bank is looking to sell all the accounts on a 100 percent cash basis to banks, ARCs, NBFCs and other financial institutions, according to the auction notice on the lender's website on Tuesday.
Kumar said that the provisioning coverage ratio has also improved over the years, from 3.9 percent in FY17 to 6.1 percent in FY19 (Apr-Dec).
A two-member National Company Law Appellate Tribunal (NCLAT) bench, headed by Chairman Justice S J Mukhopadhaya, said that this is done in the interest of IL&FS debt resolution plan.
The recovery is expected to touch Rs 1.80 lakh crore by March 2019 with some of the resolutions at the final stage, Financial Services Secretary Rajiv Kumar said.
Ajay Gupta was accused of offering the then Deputy Minister of Finance Mcebisi Jonas a bribe of 600 million-rand ($42.6 million) to take on the post of Finance Minister in Zuma's Cabinet.
The National Housing Bank and some PSU banks may come forward to provide last mile funding to complete the unfinished projects
During the nine months of FY19, the bank's recoveries from bad loans stood at Rs 16,600 crore.
These accounts are part of the total stressed corporate exposure (interest coverage ratio of 1.5x) of 19.3 percent or Rs 13.5-14 lakh crore as of September 2018.
Major accounting frauds typically come to light when liquidity tightens. Given the over 2% point jump in money market rates in India in the 12 months to September the probability of major accounting fraud coming to light in the Indian stock market is growing.
A top PNB official said it has already provisioned close to Rs 14,000 crore towards fugitive diamantaire Nirav Modi's alleged fraud on its books and all recoveries will only add to its profit.
The bank had posted a net loss of Rs 596.70 crore in the corresponding quarter of the previous financial year.
At a time when the banking sector is grappling with mounting NPAs, the World Wildlife Fund (WWF) report released Wednesday said water risks could pose further "liquidity constraints" on the strained balance sheets of banks.
The RBI had last month come out with the guidelines stipulating that from April 2019, minimum 40 percent of fund- based limits of a borrower is required to be structured in the form of a 'loan component' with a fixed maturity.