Shritama Bose
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Companies Act vs IBC: Govt must resolve conflict between two laws: Bankers
Suggest amendment to the Companies Act that allows defaulting promoters to take over their assets.
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Nagarjuna Fertilizers’ loans turn NPA
The company’s total debt stood at Rs 1,453 crore as on March 31. In February, India Ratings had affirmed a ‘D’ rating on Nagarjuna Fertilizers’ fund-based limit of Rs 803 crore, non-fund-based limit of Rs 1,181 crore and long-term loans worth Rs 545.5 crore.
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2017-18 reading: Household debt almost doubles
The indebtedness of Indian households nearly doubled in the year to March 2018, with their financial liabilities rising 80% to Rs 6.74 lakh crore.
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Lenders seek bids to replace Era Infra arm as road concessionaire
Deloitte Touche Tohmatsu has been appointed financial advisor to the lenders and will assist in identifying investors for carrying out the substitution of the concessionaire.
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Up to Rs 8,831 crore: Essar Steel in Bank of India’s NPA sale list
Bank of India (BoI) on Wednesday put on sale its exposures to Essar Steel, Bhushan Power and Steel and Alok Industries along with 38 other non-performing assets (NPAs) worth a total Rs 8,831 crore.
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SBI puts Ballarpur Ind, Jai Balaji, Rohit Ferro Tech exposures on sale
State Bank of India (SBI) on Tuesday put on sale eight non-performing accounts (NPAs) worth Rs 3,948 crore on sale, including its exposures to Jai Balaji Industries (Rs 859 crore), Ballarpur Industries (Rs 47 crore) and Rohit Ferro Tech (Rs 1,320 crore).
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BoI recalls upper Tier-II bonds worth Rs 500 cr
Bank of India (BoI) has decided to recall its upper Tier-II bonds issued in October 2008 worth Rs 500 crore, the bank said in a letter to investors.
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Matter of concern: Bank deposit growth lags for a year
Double-digit growth in deposits has eluded banks for a year now with the rate of growth of households savings moderating and more surpluses finding their way into mutual funds.
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Complying with RBI deadline, PNB, UBI and Andhra Bank put NPAs of Rs 4,441 crore on sale
PNB has put on sale 21 accounts having `1,320 cr outstanding; Andhra Bank’s 53 entities have `2,549-cr debt; UBI’s 30 accounts have total outstanding of `572 cr
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Aadhar deadline: Government, RBI sit on IBA appeal against mandatory enrolment
Association says Aadhaar enrolments are not covered under the Banking Regulation Act, and banks should not be forced to adhere to these deadlines.
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ATM-debit-cum-transit cards coming soon; you might soon be able to make direct payment for a metro ride
Over the last few months, the government has been discussing the possibility of introducing ATM-cum-debit-cum-transit cards with banks, said two people privy to the discussions.
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60% haircut: SBI offloads Bombay Rayon debt
State Bank of India (SBI) has completed the sale of its Rs 2,261-crore exposure to Bombay Rayon Fashions (BRFL) to JM Financial Asset Reconstruction Company (ARC) for Rs 900 crore, according to persons familiar with the development.
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SBI clubs three other banks’ exposure to Bombay Rayon for sale
State Bank of India (SBI) has now decided to club other banks’ exposures to the account and run the auction as per the Swiss challenge method.
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UPI soars, clocks digital transactions at 43% of those by cards at retail outlets as compared to 4% last year
During June 2018, the UPI channel recorded 236 million transactions worth Rs 40,834 crore, as against 419 million card-based POS transactions worth Rs 94,199 crore.
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SBI working on plan to integrate biometric authentication with apps
SBI is working to enable its apps with biometric authentication that will preclude the use of a dongle attached to a smart device for verification.
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Revaluation of SME collateral largely led to extra provisioning this quarter, says Manish Kothari of Kotak Mahindra Bank
The stress Kotak Mahindra Bank (KMB) has been experiencing in the small and medium enterprises (SMEs) segment is emerging largely from traders and businesses hit by demonetisation, Manish Kothari, business head – corporate banking and SME, KMB, tells Shritama Bose.
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Lenders to replace Lanco Devihalli as operator of NH-48 in Karnataka
Lenders led by State Bank of India (SBI) have invited bids to replace Lanco Devihalli as the concessionaire of an 80-km stretch along NH-48 in Karnataka, according to sources. The special purpose vehicle (SPV) is the concessionaire of the operational build-operate-transfer (BOT) toll road project. The project’s outstanding debt as on March 31 was Rs […]
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Whopping digital dividend! Mobile transaction values near mammoth Rs 2 lakh crore in June
Mobile banking transactions have doubled between October 2017 and June when they crossed the 300-million mark to clock over 306 million transactions.
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Lenders seek bids to replace Gammon arm in Andhra project
A consortium of lenders, led by Canara Bank, has sought bids to replace Gammon Infrastructure Projects-owned Rajahmundry Godavari Bridge (RGBL) as the operator of a bridge across the river Godavari from the Kovvur side to the Rajahmundry side in Andhra Pradesh.
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Allahabad Bank puts Rs 711-crore NPAs on sale
Kolkata-headquartered Allahabad Bank on Friday put on sale non-performing assets (NPAs) worth Rs 711 crore, including a Rs 165-crore exposure to the Patni group-owned Rohit Ferro-Tech, whose debt stood at Rs 2,889 crore at the end of March 2017.
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Debit cards: Paytm rules the roost in the virtual world but lags in real life
Given how every depositor gets a digital debit card, Paytm Payments Bank has in less than a year of its launch notched up a large outstanding debit card user base.
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Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale
PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.
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Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore
Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.
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Cleaning up: PSB write-offs cross Rs 1 lakh crore in FY18
Up 57% from a year ago; NPAs lowered by `1.28 lakh crore versus `81,684 crore in the previous year
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High-value frauds in public sector banks fell by 30% in FY18, says govt
The number of large-value frauds at public sector banks (PSBs) fell nearly 30% to 1,902 in FY18 from 2,709 in FY17, minister of state for finance Shiv Pratap Shukla told the Rajya Sabha on Tuesday. The highest incidence of frauds involving `1 lakh or more was observed at State Bank of India (SBI), the country’s […]
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Staff accountability fixed in less than 2% NPA cases
As per data reported by PSBs, during the last three financial years, staff accountability has been examined in 29,30,762 NPA accounts, and staff accountability has been fixed in respect of 53,122, or 1.8%, of these.
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Dena Bank scouts for property consultants to sell Rs 450-cr assets
Dena Bank’s move to sell its immovable assets is one of a series of sales of non-core assets by public-sector banks to beef up their capital position.
