Banks already reeling under mammoth pile of bad loans, now stare at $38 bn new dud loans from power sectorPTI | April 4, 2018 6:53 PM
The banking sector, which is already reeling under a mammoth pile of bad loans, is looking at potential dud assets of USD 38 billion from the power sector, as USD 53 billion of the USD 178 billion bank loans to the sector are already stressed, said a report.
Pragya Srivastava | April 4, 2018 6:01 PM
India financial sector has both the good and the bad news. While, on one hand, the corporates’ credit quality has improved in last four years, or in the Narendra Modi era; the bad news is that non-performing assets (NPAs) may surge further.
IANS | April 4, 2018 3:59 PM
Less than half of the staggering Rs 9 lakh crore worth of non-performing assets (NPAs), or bad loans, accumulated by banks had returned due to the system set in place by the Insolvency and Bankruptcy Code (IBC), 2016, the government said on Wednesday.
Videocon loan case: No reference from SFIO on ICICI Bank matter, says corporate affairs secretary Injeti SrinivasPTI | April 4, 2018 3:52 PM
It is well within the SIFO’s ambit to make a reference about a case but there is no such reference currently with the corporate affairs ministry on the issue involving ICICI Bank and Videocon Group, a senior official said today.
PTI | April 4, 2018 3:35 PM
With a high-level panel suggesting a slew of changes to the insolvency law, Corporate Affairs Secretary Injeti Srinivas said today that the amendments, as and when implemented, would be prospective in nature.
FE Online | April 4, 2018 1:10 PM
The Reserve Bank of India (RBI) has dropped Axis Bank from the list of banks that have been authorised to import bullion (gold and silver) for the financial year 2018-19.
FE Online | April 4, 2018 11:22 AM
There has been no apparent audit by the RBI during the period of the scam, said CVC K V Chowdary.
Shritama Bose | April 4, 2018 2:09 AM
Punjab National Bank (PNB), the country’s second-largest public sector bank, has said it has not been collating data on recoveries made under its one-time settlement (OTS) scheme for small-ticket loans.
Videocon loan case: Income Tax issues notice to ICICI Bank MD & CEO Chanda Kochhar’s husband Deepak KochharPTI | April 3, 2018 10:19 PM
The Income Tax Department has issued a notice to Deepak Kochhar, husband of ICICI bank MD and CEO Chanda Kochhar, in connection with its tax evasion probe in the Videocon bank loan case, officials said.
IANS | April 3, 2018 9:33 PM
Reserve Bank of India (RBI) on Tuesday said that Jio Payments Bank Limited has commenced operations with effect from April 3, 2018.
PTI | April 3, 2018 8:22 PM
Public sector banks (PSBs) wrote off Rs 2.41 lakh crore worth of loans between April 2014 and September 2017, the Rajya Sabha was informed today.
PTI | April 3, 2018 5:59 PM
Midsize private sector lender Yes Bank is aiming to evolve itself into a “technology company in the business of banking” and has accordingly announced a rejig of its senior management.
PTI | April 3, 2018 5:16 PM
Gold financing firm Muthoot Finance on Tuesday said that it plans to raise Rs 3,000 cr through the public issue of non-convertible redeemable debentures (NCDs).
PTI | April 3, 2018 3:54 PM
Apportioning blame to the Reserve Bank of India (RBI) over the PNB loan fraud , Central Vigilance Commissioner K V Chowdary today said there had been “no apparent audit” by the central bank during the period of the scam.
Reuters | April 3, 2018 8:16 AM
Twenty-one banks, majority owned by New Delhi, account for more than two-thirds of the banking assets in Asia’s third-biggest economy. These lenders also account for close to 90 percent of soured loans in the banking sector.
PTI | April 3, 2018 7:37 AM
Last week, media reports mentioned the alleged involvement of Kochhar and her family members in a loan provided to Videocon group on quid pro quo basis.
Shritama Bose | April 3, 2018 4:55 PM
Contrary to most financial firms, microfinance institutions (MFIs) have seen their borrowing costs drop in the last three quarters as the conversion of a number of top MFIs into small finance banks (SFBs) helped free up bank funding.
PTI | April 2, 2018 8:30 PM
The Reserve Bank today allowed banks to spread provisions for bond losses in the third and fourth quarters of FY18 over the next four quarters.
PNB assures customers that money is safe, comes out with detailed set of FAQs seeking to address concernsPTI | April 2, 2018 6:19 PM
Facing heat over nearly Rs 13,000 crore scam, Punjab National Bank today said money of customers is safe and asserted that there would be zero tolerance towards unethical practices.
PTI | April 2, 2018 2:20 PM
Even though the banks will see their dud assets piles peaking, rating agency Crisil today warned that the ongoing probes into the frauds and allegations of improprieties against bankers will dent credit growth in the new fiscal year.
FE Bureau | April 2, 2018 2:48 AM
Socio-economic profile of students and cost of education are the key factors driving education finance.
FE Online | March 31, 2018 11:23 AM
When it comes to making timely repayment of loans, the common man has a far superior record in comparison to corporates.
FE Online | March 31, 2018 10:04 AM
The rate of interest at which banks borrow funds from the central bank by selling their bonds and securities is called repo rate.
Banikinkar Pattanayak | March 31, 2018 5:10 AM
Ending suspense over the fate of the Banks Board Bureau (BBB), the finance ministry has said the BBB will continue to exist even after March 31, when the term of its current members is to expire.
Shritama Bose | March 31, 2018 4:58 AM
Signalling a decisive reversal in the rate cycle, interest rates on fresh loans have stabilised in recent months. This is a departure from much of 2016 and the first half of 2017, when they were on a downward spiral.
As bank privatisation chorus gets louder, ex-CAG Vinod Rai stands firm behind PSU banks, but with ridersFE Online | March 30, 2018 4:03 PM
Former CAG Vinod Rai while ruling out the overnight bank privatisation endorsed the idea of bank consolidation and lesser government’s stake in PSBs.
FE Online | March 30, 2018 10:49 AM
The Central Bureau of Investigation (CBI) has registered three fresh FIRs in Rs 743 crore loan fraud reported at IDBI bank branch in Andhra Pradesh’s West Godavari district.
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