Bank of India (BoI) sold its exposures to three large accounts — Alok Industries, Asian Colour Coated Ispat and ISMT — during the quarter ended December with haircuts ranging between 64% and 84%.
The December 2015-March 2016 period coincided with the RBI’s asset quality review (AQR), a system-wide exercise that led to improved recognition of bad loans and a massive spurt in slippages at banks.
The strategy covers both income and cost side. On the income side, we have to improve the revenue and quality assets. We are focusing more on the better-rated companies.
Chiefs of State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India, IDBI Bank, Central Bank of India and Dena Bank attended the meeting on December 13.
Power Finance Corporation (PFC) may have to approach foreign banks to raise part of the Rs 7,000 crore it needs to buy out the central government’s stake in REC as public sector banks (PSBs) may hit the regulatory limits se
The project owes Rs 8,215 crore to its lenders, including term loans of Rs 6,940 crore, working-capital loans worth Rs 815.5 crore and non-fund-based limits to the tune of Rs 459 crore.
PNB has also put on sale 24 other bad-loan accounts worth an aggregate Rs 1,779 crore. Twelve of these are being offered only on a full-cash basis, with the rest is being sold through a mix of cash and security receipts
As on September 1, Oliver Engineering’s principal outstanding was Rs 364 crore, while its interest overdue was `147 crore. In all, it owes its lenders Rs 517 crore.
The largest private bank by assets, HDFC Bank, too, admitted to facing repayment pressure in agri loans, even as it didn’t disclose the quantum of slippages.
Seven months after the Supreme Court (SC) ordered the maintenance of status quo on insolvency proceedings against manufacturing firm Jayaswal Neco Industries, State Bank of India (SBI) on Thursday sought bids from asset recon
Central Bank of India on Thursday sought bids for its 4% stake in Clearing Corporation of India (CCIL) to raise at least Rs 120 crore. Bank of Baroda (BoB) is reported to have agreed to sell a similar stake to HDFC Bank for R
Dena Bank on Tuesday put on sale 84 non-performing assets (NPAs) worth `3,324 crore, inviting bids on full-cash basis or through a mix of cash and security receipts (SRs).
Twenty-one listed state-owned banks together set aside 1.5 times more as provisions than the aggregate operating profit they made during the quarter ended September, as provisions against mark-to-market losses on their bond p
Governments and regulators around the world are likely to persist in pushing for greater access to and control over their citizens’ data amid rising incidence of data breach, said Patrice Perche, senior executive vice presi
