Public sector banks sanctioned ₹5.66 tn loans during MAR-APR: Finance ministry
4 years, 8 months ago

Public sector banks sanctioned ₹5.66 tn loans during MAR-APR: Finance ministry

Live Mint  

The finance ministry on Thursday said that state-owned banks have sanctioned loans worth ₹5.66 trillion to small businesses, retail, agriculture and corporate sectors during March-April, 2020. The ministry said that there has been sustained credit flow to non-banking financial companies and housing finance companies during the nationwide lockdown, that was imposed to contain the spread of covid-19. In March, it cut the repo rate by 75 basis points to 4.4% with immediate effect and announced several measures to inject ₹3.74 trillion liquidity into the system. Last month, RBI cut the reverse repo rate, provided special liquidity support to NBFCs and microfinance companies, eased asset classification norms, and facilitated increased emergency funding for state governments.

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History of this topic

RBI Flags Risks as Share of Borrowers Availing Multiple Loans Rise
2 weeks, 2 days ago

RBI Flags Risks as Share of Borrowers Availing Multiple Loans Rise

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Monday flagged risks in microfinance and consumer credit, which constitute 15% of the total scheduled commercial bank loans, with delinquency rates reaching 8.2% in small personal loans and 3.8–4.3% in microfinance. The central bank, in its December 2024 Financial Stability Report released on Monday, noted that borrowers who had availed loans from multiple …

Gross bad assets of government banks fell from 14.58% in Mar 2018 to 3.12% in Sep 2024: Finance ministry
1 month ago

Gross bad assets of government banks fell from 14.58% in Mar 2018 to 3.12% in Sep 2024: Finance ministry

Live Mint  

The government said on Thursday that policy reforms in the financial sector have restored the health of the banking sector, with the gross non-performing asset ratio of public sector banks falling to 3.12% in September 2024 from a peak of 14.58% in March 2018 and 4.97% in March 2015. The marked improvement also saw PSBs record their highest-ever aggregate net …

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports
1 month ago

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports

Deccan Chronicle  

New Delhi: The gross non-performing assets of public sector banks stood at Rs 3.16 lakh crore as of September 30, which is 3.09 per cent of the outstanding loans, while gross NPAs as percentage of outstanding loan is 1.86 per cent in private sector banks, the government said on Tuesday. Informing to the Parliament, minister of state for finance Pankaj …

Rising Defaults Among Retail Borrowers are Stressing India’s Top Banks
2 months ago

Rising Defaults Among Retail Borrowers are Stressing India’s Top Banks

The Quint  

Given that India’s economic growth relies heavily on domestic consumption, any slowdown in lending could ripple through the broader economy, impacting sectors dependent on consumer spending. Moreover, as banks shift their focus from retail to secured loans to mitigate risks, small and medium enterprises could face reduced access to capital, hindering job creation and slowing down economic expansion. In October, …

Gold loans glitter on personal loan crackdown, soaring prices
2 months ago

Gold loans glitter on personal loan crackdown, soaring prices

Live Mint  

The regulatory clampdown on unsecured personal loans has given a fillip to loans against the yellow metal, with gold loans soaring in the last few months. Rising gold prices on the back of escalating global conflict and uncertainty have also aided demand for gold loans, as customers reassess the value of their collateral and seek more credit against it. “The …

CAG finds fault with Kerala’s off-Budget borrowings again
11 months ago

CAG finds fault with Kerala’s off-Budget borrowings again

The Hindu  

Off-Budget borrowings have yet again drawn the criticism of the Comptroller and Auditor General of India whose latest audit report was tabled in the Kerala Legislative Assembly on February 15. Apart from borrowings made by the Kerala Infrastructure Investment Fund Board and the Kerala Social Security Pension Ltd, the borrowings under a bill discounting system also have drawn flak this …

Banks write off ₹10.57 lakh crore in 5 years, make NPA recovery worth ₹7.17 lakh cr: FinMin
1 year, 1 month ago

Banks write off ₹10.57 lakh crore in 5 years, make NPA recovery worth ₹7.17 lakh cr: FinMin

The Hindu  

Banks have written off ₹10.57 lakh crore during the last five financial years, of which ₹5.52 lakh crore was in respect of loans pertaining to large industries, the government informed the Parliament on Tuesday. "As per RBI data, scheduled commercial banks have written off an aggregate loan amount of ₹10.57 lakh crore during the last five financial years," Minister of …

Rs 40,700 cr sanctioned under Stand-Up India Scheme
1 year, 9 months ago

Rs 40,700 cr sanctioned under Stand-Up India Scheme

Deccan Chronicle  

NEW DELHI: As much as Rs 40,710 crore loan has been sanctioned to over 1.8 lakh accounts under the government's flagship Stand Up India Scheme, which is focussed on economic empowerment and job creation, according to official data. Of the funds sanctioned since the inception of the scheme in 2016, about 80 per cent of the loans have been given …

Banks write off loans worth Rs 11.17 lakh crore in last 6 years
2 years ago

Banks write off loans worth Rs 11.17 lakh crore in last 6 years

Deccan Chronicle  

NEW DELHI: Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. "As per RBI data, public sector banks and scheduled commercial banks wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," …

Parliament proceedings | Banks wrote off ₹1.15 lakh cr. in nine months of FY21: Anurag Thakur
3 years, 10 months ago

Parliament proceedings | Banks wrote off ₹1.15 lakh cr. in nine months of FY21: Anurag Thakur

The Hindu  

Banks have written off bad loans to the tune of ₹1.15 lakh crore in the first three-quarters of the current fiscal, the Lok Sabha was informed on March 8. As per RBI guidelines and policy approved by bank boards, non-performing loans, including those in respect of which full provisioning has been made on completion of four years, are removed from …

Parliament proceedings | Banks' NPAs decline to ₹8.08 lakh crore in Sept 2020: Govt
3 years, 11 months ago

Parliament proceedings | Banks' NPAs decline to ₹8.08 lakh crore in Sept 2020: Govt

The Hindu  

Non-performing assets or bad loans of the banking sector came down from a high of ₹10.36 lakh crore at the end of March 2018 to ₹8.08 lakh crore at the end of September 2020 due to various initiative of the government, Minister of State for Finance Anurag Thakur informed the Rajya Sabha on Tuesday. As a result of the Asset …

Data | Why did bad loans in banks reduce despite COVID-19 and economic downturn?
4 years ago

Data | Why did bad loans in banks reduce despite COVID-19 and economic downturn?

The Hindu  

The ratio of Gross Non-Performing Assets in Indian banks decreased in FY20 and FY21 despite the impact of COVID-19 and the economic downturn that preceded it. This was mostly due to three factors: 1) Banks wroteoff relatively more NPAs in FY20 to clean their balance sheets; 2) Some large NPA accounts got resolved through debt-recovery channels; and 3) It is …

The Hindu Explains | Why is the RBI worried when volume of bad loans declined in the September quarter?
4 years ago

The Hindu Explains | Why is the RBI worried when volume of bad loans declined in the September quarter?

The Hindu  

The story so far: After losses in two consecutive years, India’s scheduled commercial banks turned profitable in 2019-20. The Reserve Bank of India reckons that the first half of 2020-21 saw even greater improvements in banks’ vital statistics, with non-performing assets falling to 7.5% of outstanding loans by September 2020. What former Chief Economic Adviser Arvind Subramanian had called India’s …

Yes Bank aims to disburse ₹10,000 cr retail, MSME loans in Dec quarter
4 years, 1 month ago

Yes Bank aims to disburse ₹10,000 cr retail, MSME loans in Dec quarter

Live Mint  

Yes Bank aims to disburse retail and small business loans worth ₹10,000 crore in the current quarter of the financial year and plans to expand the portfolio to over 60% of its loan book by 2023, a top official said on Tuesday. Following the road map to become a truly digital retail bank, we are innovating constantly to meet these …

Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P
4 years, 1 month ago

Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P

The Hindu  

Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11% of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is “masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the proportion of …

Non-performing Loans in Indian Banking Sector to Rise in Next 12-18 Months: S&P
4 years, 1 month ago

Non-performing Loans in Indian Banking Sector to Rise in Next 12-18 Months: S&P

News 18  

Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11 per cent of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is ”masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the …

Banks Sanctions Rs 1.86 Lakh Cr to 50 Lakh MSMEs Under Credit Guarantee Scheme
4 years, 3 months ago

Banks Sanctions Rs 1.86 Lakh Cr to 50 Lakh MSMEs Under Credit Guarantee Scheme

News 18  

The Finance Ministry on Thursday said banks have sanctioned loans of about Rs 1.86 lakh crore to 50 lakh business units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme for the MSME sector, impacted by slowdown due to the coronavirus pandemic. "As reported on 29.09.2020, by 12 Public Sector Banks, top 24 Private Sector Banks & 31 NBFCs, …

Banks sanctioned ₹1.5 lakh crore easy loans to small enterprises
4 years, 4 months ago

Banks sanctioned ₹1.5 lakh crore easy loans to small enterprises

Hindustan Times  

Commercial banks have sanctioned ₹1.5 lakh crore and disbursed two-third of the amount among small enterprises and individual professionals under the ₹3 lakh crore emergency working loan facility to help them tide over the crisis triggered by the Covid-19 pandemic, an official statement said on Thursday. The top lenders under the Emergency Credit Line Guarantee Scheme are State Bank of …

Govt Widens Ambit of Rs 3 Lakh Crore MSME Credit Guarantee Scheme
4 years, 5 months ago

Govt Widens Ambit of Rs 3 Lakh Crore MSME Credit Guarantee Scheme

News 18  

The government on Saturday widened the scope of the Rs 3-lakh crore MSME credit guarantee scheme by doubling the upper ceiling of loans outstanding to Rs 50 crore and including certain individual loans given to professionals like doctors, lawyers and chartered accountants for business purposes under its ambit. The finance minister said that the intended changes are likely to expand …

PSBs sanction ₹19,668 cr loans to 71 MSME hubs under credit guarantee scheme
4 years, 5 months ago

PSBs sanction ₹19,668 cr loans to 71 MSME hubs under credit guarantee scheme

Live Mint  

The Finance Ministry on Friday said public sector banks have sanctioned ₹19,668.87 crore to 71 MSME hubs across the country under the ₹3-lakh crore Emergency Credit Line Guarantee Scheme. "As of July 15, #PSBs have sanctioned loans worth ₹19,668.87 crore for 71 #MSME hubs in 27 States/UTs under the 100% Emergency Credit Line Guarantee Scheme, of which ₹12,871.50 crore has …

State-run lenders have at least ₹7.9 tn loans under moratorium
4 years, 6 months ago

State-run lenders have at least ₹7.9 tn loans under moratorium

Live Mint  

India’s five largest state-run banks collectively have at least ₹7.9 trillion of loans under moratorium, including loans that were stressed even before the coronavirus outbreak, regulatory filings showed. Different banks are using different methods to calculate the moratorium amount and there is a lack of coherence at the moment,” said Asutosh Mishra, head of research, institutional equity, Ashika Stock Broking. …

PSBs disburse 52% of the loans sanctioned under emergency credit line guarantee scheme
4 years, 6 months ago

PSBs disburse 52% of the loans sanctioned under emergency credit line guarantee scheme

Live Mint  

State-owned lenders have sanctioned loans worth ₹40,416 crore under the emergency credit line guarantee scheme, out of which, 52% of the credit has already been disbursed, as of June 18, the finance ministry said. “As of 18 June 2020, PSBs have sanctioned loans worth ₹40,416 crore under the 100% Emergency Credit Line Guarantee Scheme, out of which ₹21,028.55 crore has …

Lockdown impact: Public sector banks need ₹45,000-82,500 crore capital in FY21
4 years, 7 months ago

Lockdown impact: Public sector banks need ₹45,000-82,500 crore capital in FY21

Live Mint  

MUMBAI: India’s public sector banks will require ₹45,000-82,500 crore of capital in FY21 as the covid-19 pandemic is expected to increase asset quality pressures, said rating agency Icra. According to a report by Icra on Thursday, with earlier expectations of improved asset quality and profitability, the capital requirements for public sector banks was estimated at ₹10,000-20,000 crore for FY21 and …

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others
4 years, 7 months ago

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others

India TV News  

State-owned Bank of Maharashtra on Sunday said it has sanctioned loans worth Rs 2,789 crore to MSME, self-help group, agricultural and retail borrowers to help them meet their liquidity mismatches caused due to coronavirus crisis over the last three months. "We have sanctioned loans amounting to Rs 2,789 crore under agriculture, SHGs, Retail, MSMEs with almost one lakh beneficiaries between …

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme
4 years, 7 months ago

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme

India TV News  

State-run Bank of Baroda on Saturday said it can offer up to Rs 12,000 crore in loans to MSMEs under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme announced by the government. Last week, Finance Minister Nirmala Sitharaman had announced a 100 per cent credit guarantee scheme worth Rs 3 lakh crore to support the medium, small and …

COVID-19 Impact: Bad loans in banking sector may rise by Rs 5.5 lakh cr this fiscal, says India Ratings
4 years, 7 months ago

COVID-19 Impact: Bad loans in banking sector may rise by Rs 5.5 lakh cr this fiscal, says India Ratings

Firstpost  

While bad loans from the corporate sector may rise by Rs 3.4 lakh crore, for non-corporate segments it may increase by Rs 2.1 lakh crore in FY21, India Ratings and Research said in the report Mumbai: With economic activity coming to a standstill due to the COVID-19 crisis, total slippages in the banking system may rise up to Rs 5.5 …

Coronavirus Lockdown: Rs 6.45 lakh cr worth loans sanctioned by PSBs during 1 March-15 May, says Nirmala Sitharaman
4 years, 7 months ago

Coronavirus Lockdown: Rs 6.45 lakh cr worth loans sanctioned by PSBs during 1 March-15 May, says Nirmala Sitharaman

Firstpost  

State-owned banks have sanctioned about Rs 6.45 lakh crore worth loans to various sectors including MSME, agriculture and retail between 1 March and 15 May when businesses were reeling under the impact of COVID-19 crisis New Delhi: State-owned banks have sanctioned about Rs 6.45 lakh crore worth loans to various sectors including MSME, agriculture and retail between 1 March and …

PSBs sanction Rs 6.45 lakh crore loans to support MSMEs, other affected sectors
4 years, 7 months ago

PSBs sanction Rs 6.45 lakh crore loans to support MSMEs, other affected sectors

India Today  

Finance Minister Nirmala Sitharaman’s office on Tuesday said in a tweet that Public Sector Banks have sanctioned Rs 6.45 lakh crore in loans to smaller businesses, retail, agriculture and corporate sectors during from March 1 to May 15. A tweet from Finance Minister Nirmala Sitharaman’s office said, “Loans worth over Rs 6.45 lakh crore were sanctioned by PSBs during March …

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs
4 years, 8 months ago

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs

Firstpost  

The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises will encourage banks to lend more to the sector, bankers said Mumbai: The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises will encourage banks to lend more to the sector, bankers said. “The measures for MSME through …

Finance Minister Nirmala Sitharaman postpones meet with PSB chiefs to later this week
4 years, 8 months ago

Finance Minister Nirmala Sitharaman postpones meet with PSB chiefs to later this week

Firstpost  

Public sector banks have sanctioned loans worth Rs 42,000 crore to the MSME sector and corporates since the start of the lockdown. New Delhi: Finance Minister Nirmala Sitharaman review meeting with CEOs of public sector banks scheduled for Monday afternoon has been postponed. @FinMinIndia — Nirmala Sitharaman Office May 9, 2020 Sitharaman also said state-owned banks have sanctioned loans worth …

Payment of wages by MSMEs: Govt mulls credit guarantee scheme for loans
4 years, 8 months ago

Payment of wages by MSMEs: Govt mulls credit guarantee scheme for loans

India TV News  

As part of a stimulus package for the coronavirus-hit economy, the government is working on a credit guarantee scheme to enable banks to provide additional 10-15 per cent working capital to MSMEs for payment of wages, sources said. Currently, banks are offering an extra line of credit of 10 per cent based on working capital limits, which the government intends …

COVID-19 Lockdown: Businesses Seek Govt Intervention to Survive
4 years, 8 months ago

COVID-19 Lockdown: Businesses Seek Govt Intervention to Survive

The Quint  

Breaking down the severity of the crisis that the sector faces, Niranjan Hiranandani, president of The Associated Chambers of Commerce and Industry of India said, “7.5 to 8 percent of the GDP in India is real estate. Instead of that coming to you and me and our companies and real estate and builders and promoters and shopkeepers, the money has …

Lockdown | TN State Apex Co-Operative Bank rolls out gold loan scheme with lower interest rate
4 years, 8 months ago

Lockdown | TN State Apex Co-Operative Bank rolls out gold loan scheme with lower interest rate

The Hindu  

The Tamil Nadu State Apex Co-Operative Bank Limited has rolled out a loan against gold scheme with lower interest rate, to help lower income people to tide over the liquidity crisis caused by the current lockdown. As per the scheme, the gold would be valued 10% more than the normal gold schemes. Under the scheme, the gold would be valued …

SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end
4 years, 8 months ago

SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end

India TV News  

State Bank of India, the country's largest lender, has set a target of disbursing Rs 700 crore to MSMEs in the Mumbai circle by the end of June, to help them tide over liquidity crisis due to the COVID-19 lockdown. "SBI will boost flow of credit to MSMEs in this challenging period by reassessing their working capital limit and also …

Coronavirus slump: NBFCs cast shadow on economic recovery
4 years, 8 months ago

Coronavirus slump: NBFCs cast shadow on economic recovery

Live Mint  

In the second week of April, deep into India’s initial 21-day lockdown to curtail the spread of the coronavirus, senior officials at Bajaj Finance Ltd. held a conference call. Now, if bad loans rise as many including the central bank expect, banks and shadow lenders are set to become ever more cautious just when credit is most needed to keep …

Coronavirus lockdown: RBI cuts repo rate, announces 3-month moratorium on loans, read details
4 years, 9 months ago

Coronavirus lockdown: RBI cuts repo rate, announces 3-month moratorium on loans, read details

Op India  

Speaking to the media on the unprecedented situation across the country due to the Chinese epidemic, RBI Governor Shaktikanta Das on Friday announced a massive 75 basis points cut in repo rates to 4.4 per cent as a measure to counter the economic slowdown caused by the COVID-19 pandemic. Addressing the effect of the coronavirus on markets, the RBI Governor …

Banking on bailouts: The Hindu Editorial on Yes Bank crisis
4 years, 10 months ago

Banking on bailouts: The Hindu Editorial on Yes Bank crisis

The Hindu  

Just one day after it placed the financially troubled Yes Bank under a moratorium, the Reserve Bank of India announced a draft ‘Scheme of Reconstruction’ that entails the State Bank of India investing capital to acquire a 49% stake in the restructured private lender. The alacrity with which the bailout has been proposed is commendable, given that Yes Bank’s stock …

Sharp decline in PSB fraud amount, Centre tells Lok Sabha
4 years, 10 months ago

Sharp decline in PSB fraud amount, Centre tells Lok Sabha

The Hindu  

Comprehensive steps taken to curb fraud in public sector banks have resulted in a sharp decline in the amount involved, from ₹50,329 crore in 2013-14 to just ₹3,781 crore in the first three quarters of 2019-20, according to the Finance Ministry. An online searchable database of frauds reported by banks, in the form of Central Fraud Registry, has been set …

Bad loans of PSBs fall to ₹7.27 lakh crore at end of Sept 2019: Sitharaman
4 years, 11 months ago

Bad loans of PSBs fall to ₹7.27 lakh crore at end of Sept 2019: Sitharaman

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman on Monday said public sector banks' bad loans came down to ₹7.27 lakh crore at the end of September 2019, on host of measures taken by the government to improve financial health of the banks in the country. "The government has instituted comprehensive reforms in PSBs to improve, governance, underwriting, monitoring and recovery, and …

NPAs of public sector banks stand at ₹7.27 lakh crore as on H1FY20: Govt
4 years, 11 months ago

NPAs of public sector banks stand at ₹7.27 lakh crore as on H1FY20: Govt

Live Mint  

New Delhi: The government on Monday said the Non Performing Assets of Public Sector Banks stood at ₹7.27 lakh crore as on September 30, 2019. Union Minister of State for Finance Anurag Thakur also said in Lok Sabha that scheduled commercial banks and select financial institutions have reported frauds to the tune of ₹1,13,374 crore in the first half of …

RBI finds Yes Bank under-reported bad loans by ₹3,277 crore in FY19
5 years, 1 month ago

RBI finds Yes Bank under-reported bad loans by ₹3,277 crore in FY19

Live Mint  

Mumbai: Private sector lender Yes Bank on Tuesday said the Reserve Bank of India has found that it has under-reported bad loans by ₹3,277 crore in the year ended 31 March. Of this, ₹1,259 crore has already been classified as non-performing as on 30 September and ₹2,018 crore is the amount of incremental bad loans, Yes Bank said. This was …

External commercial borrowings of firms jump 50% in April-September
5 years, 2 months ago

External commercial borrowings of firms jump 50% in April-September

Live Mint  

External commercial borrowings of Indian companies jumped nearly 50% in the six months ended 30 September from a year ago, thanks to cheaper overseas funds, easier overseas borrowing norms and weakened local banks. “The constrained and relatively high-cost lending of domestic banks and financial institutions on account of stressed asset quality, heightened risk aversion and strained liquidity conditions has, in …

Tracking India's economic slowdown: Narendra Modi govt has a herculean task ahead to pep up growth with dying private investment
5 years, 5 months ago

Tracking India's economic slowdown: Narendra Modi govt has a herculean task ahead to pep up growth with dying private investment

Firstpost  

There is more than enough evidence of the economy slowing down Editor’s note: This is the third part of a series in which Firstpost’s columnists analyse the ongoing economic slowdown and offer solutions. Between April 2014 and March 2019, the retail loans of banks went up by 120 percent. Between April 2009 and March 2014, the five-year period before the …

PNB sanctions debt worth ₹689 cr to 1,600 MSMEs via 59minute loan portal
5 years, 10 months ago

PNB sanctions debt worth ₹689 cr to 1,600 MSMEs via 59minute loan portal

Live Mint  

State-owned Punjab National Bank has sanctioned loans worth ₹689 crore to over 1,600 Micro, Small and Medium Enterprises through the psbloansin59minutes.com portal as part of its effort to promote such industries. Under this initiative, the bank has sanctioned loans to over 1,600 accounts with total sanctioned amount of ₹689 crore," PNB managing director Sunil Mehta told PTI. With regard to …

$22 billion gone, yet India’s shadow banks face more dark days
5 years, 10 months ago

$22 billion gone, yet India’s shadow banks face more dark days

Live Mint  

Mumbai: As key engines of loan growth in the world’s fastest-expanding major economy, they once were investor favorites. But a series of missed payments by one of the biggest firms, Infrastructure Leasing & Financial Services Ltd. — once categorised as “systemically important” by the central bank — then roiled India’s stock market. “We believe NBFC growth will disappoint and there …

RBI lifts lending curbs on Bank of India, Bank of Maharashtra, Oriental Bank of Commerce; move to expand loan growth
5 years, 11 months ago

RBI lifts lending curbs on Bank of India, Bank of Maharashtra, Oriental Bank of Commerce; move to expand loan growth

Firstpost  

Mumbai: In a significant move, the Reserve Bank of India on Thursday lifted lending curbs on three out of 11 weak public sector banks as the central bank under new Governor Shaktikanta Das met one of the key demands of the government for boosting credit growth. “It has been decided that BoI and BoM which meet the regulatory norms including …

NBFC Mudra loans grew faster than banks in FY18
6 years, 1 month ago

NBFC Mudra loans grew faster than banks in FY18

Live Mint  

Mumbai: Non-banking financial companies still have a long way to go to achieve the scale of commercial banks in Mudra loans, but they’re growing swiftly in sanctioning these small loans for businesses, official data showed. According to the 2017-18 annual report of Pradhan Mantri Mudra Yojana, though NBFCs sanctioned only over ₹ 27,000 crore of Mudra loans in FY18 against …

The need for a boost to MSME sector
6 years, 2 months ago

The need for a boost to MSME sector

Live Mint  

Prime Minister Narendra Modi’s Diwali package for micro, small and medium enterprises may be late in the day, but it’s nevertheless a boon, particularly the interest subvention and the measures to see that bills are paid on time. According to the MSME Pulse report, for public sector banks, the level of non-performing assets among MSMEs went up from 13% in …

Dear public sector banks, don’t uncork the bubbly just as yet
6 years, 4 months ago

Dear public sector banks, don’t uncork the bubbly just as yet

Live Mint  

What Rajiv Kumar, secretary, department of financial services in finance ministry, said last week on India’s public sector banks should be music to the ears of investors. The aggregate operating profit of 21 PSBs has risen close to 13% even as 18 listed private banks’ operating profit actually dropped 1.34%. Other income, which includes fees, treasury profits and sale of …

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