Narendra Modi speech on bank NPAs has hit the right target; bad loan menace is UPA-era product
6 years, 4 months ago

Narendra Modi speech on bank NPAs has hit the right target; bad loan menace is UPA-era product

Firstpost  

What makes Narendra Modi’s remarks ominous for the nation is his assertion that during the 6-year period, loans were sanctioned through what he humorously calls phone banking—behest lending at its worst. In the next six years, the amount touched Rs 52 lakh crore,” said Prime Minister Narendra Modi on 1 September 2018 while inaugurating the India Post Payments Bank. What makes Modi’s remarks ominous for the nation is his assertion that during the 6-year period, loans were sanctioned through what he humorously calls phone banking—behest lending at its worst. The Modi government has not only made banking inclusive with its Jan Dhan initiative but also made bank finances available for the grassroots people and those at the bottom of the heap with its Mudra Yojana initiative that has benefitted some 12 crore people with micro finance loans.

India Congress Bank Loans Loan Crore Banks Modi Narendra Modi Lending Npas Psb Behest Lending  menace  bank  speech  narendra  banks  crore  india  loan  rs  product  psbs  right  modi  target  loans  lending  upaera  npas

History of this topic

Sitharaman Rebukes Rahul Gandhi Over Allegations on Public Sector Banks
1 month ago

Sitharaman Rebukes Rahul Gandhi Over Allegations on Public Sector Banks

Deccan Chronicle  

Union Finance Minister Nirmala Sitharaman strongly criticized Leader of Opposition Rahul Gandhi for his comments regarding the functioning of Public Sector Banks under the Modi government. Responding to Gandhi's accusations that PSBs have been turned into "private financiers for the rich and powerful," Sitharaman highlighted the significant reforms and improvements in the banking sector during the Modi regime.On Wednesday, Gandhi, …

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 …

FM Asks PSBs to Focus on Core Business, Deposits
4 months, 3 weeks ago

FM Asks PSBs to Focus on Core Business, Deposits

Deccan Chronicle  

New Delhi: Union finance minister Nirmala Sitharaman on Monday asked all the heads of public sector banks to focus on core banking business and speed up the pace of deposit growth by introducing innovative products. “The finance minister reviewed the financial performance of banks and progress made in the implementation of various flagship schemes of the government, including PM Awas …

Banks should improve corporate loans, keep deposit base healthy
7 months, 3 weeks ago

Banks should improve corporate loans, keep deposit base healthy

New Indian Express  

For the first time ever, the cumulative net profits of Indian banks surpassed Rs 3 lakh crore in 2023-24, up from Rs 2.3 lakh crore in 2022-23. While the 26 private lenders’ net profits shot up 42 percent to Rs 1.78 lakh crore, the 12 public sector banks reported net profits of Rs 1.41 lakh crore in 2023-24, a 34 …

Will take Credit Deposit ratio to 60-62%: Yogi
1 year, 3 months ago

Will take Credit Deposit ratio to 60-62%: Yogi

Hindustan Times  

Lucknow Chief minister Yogi Adityanath, on Saturday, said that the Credit Deposit ratio has experienced an increase of 10-to-11%, reaching 55-56% in the past six years, despite the period of the Covid pandemic. Yogi was addressing a program held at Lok Bhawan here to distribute toolkits under the Vishwakarma Shram Samman Yojana and disburse loans worth ₹50,000 crore to the …

Banks recovered more than Rs 10 lakh crores from NPAs in the last nine years: Finance Ministry tells Lok Sabha
1 year, 5 months ago

Banks recovered more than Rs 10 lakh crores from NPAs in the last nine years: Finance Ministry tells Lok Sabha

Op India  

In a major success for the Narendra Modi government, during the last nine fiscal years, scheduled commercial banks have recovered approximately Rs 10 lakh crore, as per the government’s information to the Lok Sabha. In a written response to a question in the Lok Sabha on Monday, Minister of State for Finance Bhagwat Kisanrao Karad stated that according to the …

Canara Bank was top lender to public sector cos in FY23
1 year, 5 months ago

Canara Bank was top lender to public sector cos in FY23

Live Mint  

Public Sector Banks lent ₹4.12 trillion to state-backed corporations and public sector undertakings during 2022-23, down from ₹4.93 trillion during the previous year, finance minister Nirmala Sitharaman informed Parliament in a written response on Monday. Responding to questions by member of parliament, Velusamy P, Sitharaman informed the Lok Sabha that Canara Bank led the lending during 2022-23 to government backed …

Nirmala Sitharaman praises PSBs, says 'profit tripled to Rs 1.04 lakh in nine years'
1 year, 6 months ago

Nirmala Sitharaman praises PSBs, says 'profit tripled to Rs 1.04 lakh in nine years'

India TV News  

Finance Minister Nirmala Sitharaman stated on Saturday that the profit of public sector banks has tripled to Rs 1.04 lakh crore over the past nine years as a result of government initiatives. Public sector banks net profit nearly tripled from Rs 36,270 crore in FY2014 to Rs 1.04 lakh crore in FY23. They should follow best corporate governance practices, adhere …

ECONOMIC PERSPECTIVES | Neoliberal dilemma: Public sector banks turn a profit but privatisation not on cards for now
1 year, 7 months ago

ECONOMIC PERSPECTIVES | Neoliberal dilemma: Public sector banks turn a profit but privatisation not on cards for now

The Hindu  

Published : Jun 02, 2023 15:59 IST - 6 MINS READ The government’s economic spokespersons have been celebrating an ostensibly remarkable recovery in the country’s public banking sector. To ensure the solvency of and capital adequacy in banks, the government had to infuse Rs.3,10,997 crore into the public banking system from 2016-17 to 2020-21. Ever since the release of the …

ECONOMIC PERSPECTIVES | Is a reversal of bank nationalisation on the cards?
1 year, 11 months ago

ECONOMIC PERSPECTIVES | Is a reversal of bank nationalisation on the cards?

The Hindu  

Published : Jan 26, 2023 10:25 IST The semi-annual Financial Stability Report from the Reserve Bank of India signals that the country’s banking system, especially the public banking system, has put behind it the stress from disturbingly high non-performing or bad loans on its books. The asset quality review resulted in an increase in the volume of recorded gross NPAs …

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," …

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’
2 years, 5 months ago

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’

The Hindu  

Concrete steps taken by the government and RBI helped banks recover bad loans worth more than ₹8.6 lakh crore in the last eight financial years, the government informed Parliament on Monday. Several factors - including prevailing macroeconomic conditions, sectoral issues, global business environment, delayed recognition of stress by banks, aggressive lending during upturns, improper risk pricing and poor credit underwriting …

Finance Ministry asks banks to explore fintech partnership, co-lending opportunities
2 years, 6 months ago

Finance Ministry asks banks to explore fintech partnership, co-lending opportunities

The Hindu  

The Finance Ministry has asked public sector banks to explore fintech partnerships and co-lending opportunities to expand their business. In the recently concluded performance review of PSBs by the Finance Ministry, sources said, lenders were asked to focus on technology and data analytics to push their lending. The meeting took stock of asset quality and business growth plans of banks, …

Bad loans: Why, this time, it’s different
2 years, 9 months ago

Bad loans: Why, this time, it’s different

Hindustan Times  

Non-performing assets or bad loans of banks have come down to their lowest levels, Reserve Bank of India governor Shaktikanta Das said at a Confederation of Indian Industry event on March 21. When seen in the context of gross NPA share falling to 6.9% of all loans, according to RBI’s Financial Stability Report released in December 2021 — the latest …

Centre unlikely to announce capital infusion for PSU banks in Budget 2022-23
3 years, 1 month ago

Centre unlikely to announce capital infusion for PSU banks in Budget 2022-23

Firstpost  

Finance Minister Nirmala Sitharaman is expected to present the fourth budget of the Modi 2.0 government on 1 February New Delhi: The government is unlikely to announce capital infusion for public sector banks in the upcoming Budget, as their financial health has improved on the back of reduction in bad loans, sources said. During the last financial year, PSBs raised …

PM urges banks to support wealth and job creators, work proactively to improve India's balance sheet
3 years, 1 month ago

PM urges banks to support wealth and job creators, work proactively to improve India's balance sheet

Firstpost  

The prime minister also said that the recently set up National Asset Reconstruction Co would help resolve Rs 2 lakh crore of stressed assets Prime Minister Narendra Modi on Thursday exhorted banks to support wealth and job creators, and work proactively to improve the country’s balance sheet. Addressing bankers at the symposium to ‘Build Synergy for Seamless Credit Flow and …

PM Modi exhorts banks to support wealth, job creators; increase country's balance sheet
3 years, 1 month ago

PM Modi exhorts banks to support wealth, job creators; increase country's balance sheet

India TV News  

Prime Minister Narendra Modi on Thursday exhorted banks to support wealth and job creators, and work proactively to improve the country's balance sheet. Addressing bankers at the symposium to Build Synergy for Seamless Credit Flow and Economic Growth, Modi said banks have to now adopt a partnership model to help businesses thrive and move away from the idea of being …

Rs.1.53 lakh crore bad loan write-off gives a facelift to banks’ NPA profile
3 years, 7 months ago

Rs.1.53 lakh crore bad loan write-off gives a facelift to banks’ NPA profile

New Indian Express  

Explaining the trend of bad loans, Care Ratings chief economist Madan Sabnavis said that banks' gross NPAs increased sharply by 43.7 per cent from Rs. But after FY18, the NPAs saw moderation and reached Rs 8.9 lakh crore by end of March 2020 driven by large share of write-offs and lower slippages. Over the last couple of years, public sector …

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 …

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 …

PM Modi to virtually distribute loans to 300,000 street vendors under PM SVANidhi Scheme today
4 years, 2 months ago

PM Modi to virtually distribute loans to 300,000 street vendors under PM SVANidhi Scheme today

Hindustan Times  

Prime Minister Narendra Modi will distribute loans to nearly 300,000 street vendors under the PM SVANidhi Scheme through video conferencing on Tuesday. PM Modi will also communicate with beneficiaries of the scheme on the occasion PM SVANidhi Scheme was launched on June 1, 2020 for poor people selling goods on roads and tracks, who were affected due to the coronavirus …

The battle to save banks
4 years, 3 months ago

The battle to save banks

India Today  

The battle for saving banks has been a long drawn one. Speaking at the seventh SBI Banking and Economics Conclave in July, RBI governor Shaktikanta Das said: “The economic impact of the pandemic due to the lockdown and the anticipated post-lockdown compression in economic growth may result in higher NPAs and capital erosion of banks. A recapitalisation plan for PSBs …

Banks' NPAs in Large Industry, Services Fall 31 per cent in Over Two Years to Rs 4.36 Lakh Crore
4 years, 4 months ago

Banks' NPAs in Large Industry, Services Fall 31 per cent in Over Two Years to Rs 4.36 Lakh Crore

News 18  

Banks' non-performing assets in large industry and services declined 31 per cent in over two years to about Rs 4.36 lakh crore in June this year, Parliament was informed on Monday. "As per Reserve Bank of India data on domestic operations, NPAs of scheduled commercial banks pertaining to large industry and services have come down to Rs 4,36,492 crore as …

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 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 …

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 …

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 …

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 …

SBI gets a ₹11,932 crore bad loans jolt from RBI
5 years, 1 month ago

SBI gets a ₹11,932 crore bad loans jolt from RBI

Live Mint  

Mumbai: India’s largest lender, State Bank of India, underreported bad loans and their provisioning by ₹11,932 crore and ₹12,036 crore, respectively, in 2018-19, the Reserve Bank of India has found, the highest such figures reported by any bank so far for the last fiscal. In a stock exchange filing on Tuesday disclosing the central bank’s risk assessment report, SBI said …

Nearly 3% of Rs 6 lakh cr loans sanctioned under Pradhan Mantri Mudra Yojana turn NPAs: Govt
5 years, 1 month ago

Nearly 3% of Rs 6 lakh cr loans sanctioned under Pradhan Mantri Mudra Yojana turn NPAs: Govt

Firstpost  

New Delhi: The government on Tuesday said close to 3 percent of Rs 6.04 lakh crore worth of loans sanctioned under the Pradhan Mantri Mudra Yojana has turned into bad loans. Prime Minister Narendra Modi launched the PMMY on 8 April, 2015, for providing collateral-free loans of up to Rs 10 lakh to non-corporate, non-farm small/micro enterprises with a view …

PSU banks extend Rs 2.56 lakh cr support to stressed NBFCs by credit, pooled buyout since September 2018
5 years, 2 months ago

PSU banks extend Rs 2.56 lakh cr support to stressed NBFCs by credit, pooled buyout since September 2018

Firstpost  

Under the partial guarantee scheme, PSU banks have been accorded sanction to purchase Rs 21,580 crore worth of pooled assets as on 16 October New Delhi: The finance ministry on Thursday said public sector banks have extended support of Rs 2.56 lakh crore to NBFCs by way of credit and pooled buyout since September 2018 as part of efforts to …

Loan melas have been recipe for NPA disaster for PSBs starting with Rajiv Gandhi era; Narendra Modi govt should learn from past
5 years, 3 months ago

Loan melas have been recipe for NPA disaster for PSBs starting with Rajiv Gandhi era; Narendra Modi govt should learn from past

Firstpost  

This announcement must be a Déjà vu moment for many senior and retired bank officials who would have participated in the 80’s loan melas and seen its consequences. On Thursday, Modi’s Finance Minister Nirmala Sitharaman said government banks will organise credit “Shamiana meetings” in 400 districts starting 3 October to give loans to non-banking finance companies and retail borrowers such …

PSBs NPAs down to ₹7.9 trillion at the end of March 2019
5 years, 4 months ago

PSBs NPAs down to ₹7.9 trillion at the end of March 2019

Live Mint  

New Delhi: The performance of India’s public sector banks has improved with the improvement in asset quality helping in bringing the non performing assets to ₹7.9 trillion at the end of March 2019, said finance minister Nirmala Sitharaman on Friday. On last Friday, finance minister Nirmala Sitharaman also announced a slew of measures to stoke demand, including a rejig of …

Govt to upfront infuse Rs 70,000-cr capital into public sector banks: Nirmala Sitharaman
5 years, 4 months ago

Govt to upfront infuse Rs 70,000-cr capital into public sector banks: Nirmala Sitharaman

India TV News  

Announcing upfront capital infusion of Rs 70,000 crore into public sector banks, Finance Minister Nirmala Sitharaman Friday said the move is expected to generate additional lending and liquidity in the financial system to the tune of Rs 5 lakh crore. The move is expected to generate additional lending and liquidity in the financial system to the tune of Rs 5 …

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 …

Proposed Rs 70,000-cr capital infusion into public sector banks credit positive, to boost economy: S&P
5 years, 6 months ago

Proposed Rs 70,000-cr capital infusion into public sector banks credit positive, to boost economy: S&P

Firstpost  

The capital infusion will help some banks to come out of the central bank’s prompt corrective action and resume lending and clean up their balance sheets, she added. New Delhi: The proposed Rs 70,000-crore capital infusion into public sector banks will provide a timely booster to these lenders, S&P Global Ratings has said. “We believe the capital infusion will help …

Budget 2019: FM announced fresh capital infusion of Rs 70,000 crore into PSBs to help credit growth
5 years, 6 months ago

Budget 2019: FM announced fresh capital infusion of Rs 70,000 crore into PSBs to help credit growth

India Today  

The Budget 2019, presented by Finance Minister Nirmala Sitharaman, has announced an infusion of Rs 70,000 crore into public sector banks to help improve credit growth in the economy. Nirmala Sitharaman also highlighted in her speech that six public sector banks have already been brought out of the Prompt Corrective Action framework’. Over the last five financial years, PSBs have …

PSB recapitalisation: Why Narendra Modi govt must look at outright privatisation of state-run banks rather than experimenting with taxpayers' money
5 years, 6 months ago

PSB recapitalisation: Why Narendra Modi govt must look at outright privatisation of state-run banks rather than experimenting with taxpayers' money

Firstpost  

There are reports indicating that the Union Government is contemplating recapitalising the public sector banks with a capital of Rs 30,000 crores. Thus, to a layman, this situation should give rise to the question as to why then is the government continuously infusing taxpayers hard-earned money into the banking system. The government controls more than two-thirds of the banking assets …

Narendra Modi promises collateral-free loan, insurance, pension in re-election pitch to business community
5 years, 8 months ago

Narendra Modi promises collateral-free loan, insurance, pension in re-election pitch to business community

Firstpost  

Narendra Modi said he has in the five years of the BJP-led NDA government at the Centre worked to simplify lives and businesses of traders. New Delhi: In a strong re-election pitch to the business community, Prime Minister Narendra Modi Friday promised collateral-free loan of up to Rs 50 lakh, Rs 10-lakh accidental insurance to GST-registered entities, credit card facility …

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 …

Govt keen on amalgamation of PSBs to create globally competitive, healthy large banks: Arun Jaitley
5 years, 10 months ago

Govt keen on amalgamation of PSBs to create globally competitive, healthy large banks: Arun Jaitley

Firstpost  

Jaitley said the NPA situation of PSU banks has improved in the last 2-3 quarters and the NDA government has ended the practice of “phone banking” New Delhi: The government is following the policy of amalgamating public sector banks to create healthy large banks which are globally competitive, finance minister Arun Jaitley said Thursday. He said the NPA situation of …

Govt's fund infusion into PSBs not sufficient to support lending growth, additional $23 bn required in 2019: Fitch
5 years, 10 months ago

Govt's fund infusion into PSBs not sufficient to support lending growth, additional $23 bn required in 2019: Fitch

Firstpost  

The finance ministry last week announced infusion of Rs 48,239 crore fund in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans. New Delhi: Fitch Ratings on Wednesday said government’s $7 billion fund infusion into public sector banks would not be sufficient to support significantly stronger lending growth. “The government’s announcement …

Finance ministry expects three to four more lenders to come out of Reserve Bank's PCA framework this year
5 years, 10 months ago

Finance ministry expects three to four more lenders to come out of Reserve Bank's PCA framework this year

Firstpost  

The recent capital infusion of Rs 48,239 crore in 12 PSBs will help Corporation Bank and Allahabad Bank to come out of the PCA framework in the next few weeks New Delhi: The finance ministry expects three to four more lenders to come out of weak bank list of the Reserve Bank in the next six to eight months on …

A year after India's biggest bank fraud, PNB on road to annual profit; loan growth may touch 8.33% in FY20
5 years, 10 months ago

A year after India's biggest bank fraud, PNB on road to annual profit; loan growth may touch 8.33% in FY20

Firstpost  

The loan growth of PNB is estimated to be 8.33 percent for fiscal 2020, its highest in 4 years, as per the mean of analysts’ estimates from Refinitiv. One year after being hit by a $2 billion scam, Punjab National Bank is set to return to annual profits and strong loan growth in fiscal 2020 even as investigations continue into …

Bad loans under Pradhan Mantri Mudra Yojana stands at Rs 7,277 cr till March 2018
5 years, 11 months ago

Bad loans under Pradhan Mantri Mudra Yojana stands at Rs 7,277 cr till March 2018

Firstpost  

Loans extended under PMMY from inception of the scheme up to March 2018 by all member lending institutions were Rs 5.71 lakh crore, New Delhi: The government on Tuesday informed Parliament that loans worth Rs 7,277.31 crore of public sector banks under Pradhan Mantri Mudra Yojana have turned bad at the end of March 2018. Loans extended under PMMY from …

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 …

Measures adopted by the Modi government paying off, the recovery against NPAs has doubled for public sector banks
6 years ago

Measures adopted by the Modi government paying off, the recovery against NPAs has doubled for public sector banks

Op India  

According to a report published by Times of India, the public sector banks have recovered Rs 60,713 crore against non-performing assets in the first half of this year. “As per RBI data on global operations during the last three and a half financial years, NPAs of scheduled commercial banks reduced by Rs 2,83,770 crore due to recoveries,” the government told. …

Govt seeks ₹41,000 crore more for bank recapitalisation
6 years ago

Govt seeks ₹41,000 crore more for bank recapitalisation

Live Mint  

New Delhi/Mumbai: The government on Thursday sought Parliament’s approval for supplementary grants worth ₹ 41,000 crore to infuse fresh capital into ailing state-run banks in the current fiscal. With the additional ₹ 41,000 crore of capital infusion by 31 March, the government will be infusing a total ₹ 83,000 crore into public sector banks this year. “This entire exercise will …

Discover Related