PSBs write off Rs 14,549 cr in Jan-Mar quarter

Updated: Aug 31 2013, 15:21pm hrs
Public sector banks wrote off R14,549 crore as loans, while made recovery of bad assets to the tune of Rs 16,464 crore during the January-March quarter of 2012-13. "Banks resort to write off only after exhausting all

other possible avenues for recovery or when the asset coverage is not enough," MoS for finance Namo Narain Meena said. He further said that banks are required to adhere to RBI guidelines on write offs as well its board approved policy.

Pvt banks face heat for excess levy of fees

The RBI received as many as 15,653 complaints against private sector banks in 2012-13 (July-June) for deducting excess annual fees ATM cum debit card and other services from the accounts of their customers. Out of 2,786 complaints received since July 2013, 898 related to ATM/debit card/credit card-related complaints, MoS for finance Namo Narain Meena said in a reply in the Lok Sabha.

Cyber crime cases rose by 61% in 2012

Cyber crime cases registered under the IT Act last year rose by about 61% to 2,876 with Maharashtra recording the most number of cases, Parliament was informed on Friday. India saw 1,791 cases registered under the Information Technology (IT) Act in 2011, MoS for communication and IT Milind Deora said. "As per the cyber crime data maintained by National Crime Records Bureau (NCRB), a total of 288, 420, 966, 1,791 and 2,876 cyber crime cases were registered under IT Act during

2008, 2009, 2010, 2011 and 2012, respectively."

Mining can add Rs 11.25L crore to GDP

Mining sector has the potential to contribute up to R11.25 lakh crore to the GDP and create up to 1.5 crore jobs by 2025, mines minister Dinhsa Patel said. "The Centre has prepared a strategic plan document 'Unlocking the Potential of the Indian Mineral Sector'... The Strategy Paper has identified that the mining sector has the potential to contribute to around R945 to R1,125 thousand crore to the GDP," Patel said .

High-speed Net for gram panchayats

Gram panchayats will getbroadband speed of up to 100 mbps under a government project that aims to connect all 2.5 lakh panchayats in the country over the next two years, Parliament was informed on Friday. "The Centre has approved National Optic Fibre Network, which plans to connect all gram panchayats in the country through optic fibre cable... dark fibre network thus created will ensure a bandwidth of at least 100 mbps at each gram panchayat," telecom minister Kapil Sibal said in a reply to the Rajya Sabha.