The Department of Financial Services of the ministry on Friday issued a circular that laid the guidelines for financial institutions on granting ex-gratia payment of difference between compound interest and simple interest fo
India's Finance Minister Arun Jaitley said on Monday that state bankers would propose a mechanism to reach "commercially prudent" loan settlements, as the government and lenders met to discuss how to tackle the country's bad
Credit offtake to industry, which has seen decline in the recent past due to slowdown in certain sectors and issues related to bad loans, is likely to see an uptick from next month, Bank Board Bureau chief Vinod Rai said.
The magnitude of the debt-mess was laid bare late last month when two of India's largest private sector lenders provided unprecedented guidance on non-performing loans, underscoring repeated warnings by Reserve Bank of India'
A bench led by Chief Justice T S Thakur said that a “sensible and sensitive” approach is required to overhaul the entire system, which today has scores of people and entities with outstanding to the tunes of crore of rupe
At a time when Indian banks are battling the bad loan menace, global banking regulators' body BIS has proposed a uniform definition for non-performing assets and forbearance to ensure consistency in disclosures.
Hit hard by mounting bad loans, many leading public sector banks, including Bank of Baroda, Bank of India and IDBI Bank, reported their highest ever quarterly losses aggregating to over Rs 12,000 crore, while others like SBI
Punjab & Sind Bank posted the biggest decline of 35 percentage points, from 81.8 per cent to 46.8 per cent, in the provisioning coverage ratio. Andhra Bank followed with a decline of 25 percentage points.
As a New Year begins, it's not a clean slate for the banks with balance sheets full of red ink due to huge bad loans worth about USD 60 billion and a serious clean- up job is a must in 2016 with the RBI having set a deadline.
With bad loans rising and big corporates, including the Reliance Group, GMR, Essar and Adani, rushing for debt bailouts, banks have told the Ministry of Finance, in their latest round of meeting, to change the existing strate