Shritama Bose

Mudra loan NPAs ease to 4.83 per cent from 6.15% a year ago

Value of outstanding loans on March 31 was Rs 2.02L crore, of which Rs 9,770 cr were NPAs.

Economy News

Vehicle loans: Low auto sales slow down festive demand at banks

Tepid sales of cars and bikes during the Navratra festival period and even ahead of Diwali have resulted in a dull festive season for banks.

Money News

Festive demand not exciting, but picking up in last one week, says ICICI Bank genral manager Ravi Narayanan

While demand for auto loans has been lower this festive season as compared to last year, there were signs of demand picking up in late October, Ravi Narayanan, senior general manager, home and vehicle loans, ICICI Bank, tells

Markets News

MSMEs: Loan losses high in sector, but banks continue to lend

RBI data show defaults by MSMEs rose to 13.08% for PSBs at March-end this year against 12.56% last year.

Banking & Finance News

RBI vs Government: Finance Ministry was aware of changes in PCA ahead of its rollout

The Reserve Bank of India (RBI) had not just written a detailed letter, it had also made a presentation to the finance ministry before it rolled out the tighter norms for Prompt Corrective Action (PCA) in April 2017, persons

Banking & Finance News

Banks’ consumer durable loan portfolio falls 82% in Sept

Outstanding loans to the segment dropped a sharp 82% year-on-year (y-o-y) to Rs 3,225 crore on September 28.

Banking & Finance News

Bank of India puts NPAs worth Rs 10,700 crore on sale, five accounts on RBI lists put on block

Bank of India (BoI) on Tuesday put on sale non-performing assets (NPAs) worth Rs 10,710 crore, including its exposures to eight power projects and five accounts named on either of the Reserve Bank of India’s (RBI) two lists

Bank of India, BoI,NPA, NPA sale,  News

New age takeover: Debit card PoS transactions of Airtel, Paytm, Fino Payments banks beat those of mid-sized PSBs!

In August, the three payments banks the first to begin operations recorded a combined 2.15 million debit card transactions.

Industry News

PNB sells credit card outstandings worth 3% of its card portfolio

Punjab National Bank (PNB) sold non-performing credit card outstandings worth over 3% of its portfolio in the category in September, according to people aware of the development.

Banking & Finance News

SBICap seeks buyers for Videocon Oil Ventures’ overseas oil, gas assets

The sale will be carried out to monetise upstream oil and gas assets located in South America (deep offshore blocks) and Southeast Asia (shallow offshore blocks) belonging to VOVL, which is a subsidiary of Videocon Industries

Industry News

In wake of recent scare, RBI to strengthen asset liability management guidelines for NBFCs

Deputy governor NS Vishwanathan said RBI is closely monitoring the NBFCs, where the regulatory and supervisory framework hinges on three principles of protection of depositor interests, healthy customer interface, and avoidin

Industry News

ICA may become operational by mid-October

One of its components was the ICA, whose signatories include all the public-sector banks and at least two private banks, ICICI Bank and Axis Bank.

ICA, inter-creditor agreement, banking sector, public-sector banks, private banks, ICICI Bank, Axis Bank News

Four PSBs seek to raise at least Rs100 cr via non-core asset sales

Four public sector banks (PSBs) on Wednesday put on sale their stakes in various companies to collectively raise at least Rs 100 crore, days ahead of the close of the September quarter.

psb, canara bank News

Downgrade! ITNL CPs classified NPI by at least one bank

Of the 33 banks that have an exposure to the Infrastructure Leasing & Financial Services (IL&FS) group, at least one has already classified its exposure to a group company as a non-performing investment (NPI).

bank, union bank of india, npi News

Union Bank of India files insolvency plea against Rolta

Rolta India joins the list of assets which have been referred for resolution under the IBC after the six-month period for resolving them by other means ended on August 27.

Industry News

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.

Banking & Finance News

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

Industry News

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.

Economy News

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.

Industry News

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.

Industry News

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

Industry News

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.

Bank of India, Tier-II bonds, Reserve Bank of India, PCA, Central Bank of India News

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.

sbi, rbi, pnb News

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

rbi, reserve bank of india, pnb News

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.

Aadhar Card News

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.

Money News

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 devel

Industry News
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