No leniency in recovering bad loans, especially from big defaulters: Nirmala Sitharaman
9 months, 3 weeks ago

No leniency in recovering bad loans, especially from big defaulters: Nirmala Sitharaman

Hindustan Times  

New Delhi: There has been “no leniency” in recovering bad loans from large defaulters and the process is ongoing, finance minister Nirmala Sitharaman on Friday said, adding that the Enforcement Directorate has so far attached properties worth Rs.64,920 crore from 1,105 such defaulters under its scanner. “There has been no leniency in recovering bad loans, especially from large defaulters, and the process is ongoing.” She said the exploitation of the banking sector by the previous regime to benefit “cronies” through imprudent lending and keeping actual non-performing assets under wraps saw the balance sheets of both banks and corporates under stress. Congress-era reckless and imprudent lending created the disgraceful legacy of the ‘Twin Balance Sheet’ problem, which we inherited in 2014,” the finance minister said. During the last five years, banks have recovered ₹1.51 lakh crores through SARFAESI.” Measures helped to strengthen banks included – doubling pecuniary jurisdiction of the debt recovery tribunals to ₹20 lakh to focus on high-value cases, creation of stressed asset management verticals by PSBs for stringent recovery, segregation of monitoring roles from sanctioning roles in high-value loans, deployment of specialised monitoring agencies for effective monitoring of loans above ₹250 crore, online end-to-end one-time settlement platforms to ensure timely and better realisation.

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History of this topic

Banks wrote off bad loans worth ₹16.35 lakh crore in last 10 years: Centre
Trending News
1 week, 3 days ago

Banks wrote off bad loans worth ₹16.35 lakh crore in last 10 years: Centre

Hindustan Times  

Banks have written off non-performing assets or bad loans worth about ₹16.35 lakh crore in last 10 financial years, Parliament was informed on Monday. Banks continue pursuing their recovery actions initiated against borrowers under the various recovery mechanism available to them, such as filing of a suit in civil courts or in Debts Recovery Tribunals, action under the Securitisation and …

Banks write off bad loans worth ₹16.35 lakh cr in last 10 years
1 week, 3 days ago

Banks write off bad loans worth ₹16.35 lakh cr in last 10 years

Live Mint  

New Delhi, Mar 17 Banks have written off non-performing assets or bad loans worth about ₹16.35 lakh crore in last 10 financial years, Parliament was informed on Monday. Banks continue pursuing their recovery actions initiated against borrowers under the various recovery mechanism available to them, such as filing of a suit in civil courts or in Debts Recovery Tribunals, action …

Why ICICI Bank is going slow on personal loans
2 months ago

Why ICICI Bank is going slow on personal loans

Live Mint  

Mumbai: In a quarter of otherwise stable financials, ICICI Bank Ltd was unable to completely avoid the impact of asset quality woes plaguing India’s banking sector. Of ICICI Bank's gross loan slippages of ₹6,085 crore in the December quarter, ₹5,304 crore were retail and rural loan slippages, including ₹714 crore from the kisan credit card portfolio. “Our retail portfolio is …

Vijay Mallya hits back at FM Nirmala Sitharaman, asks how can I still be an offender, if...?
3 months, 1 week ago

Vijay Mallya hits back at FM Nirmala Sitharaman, asks how can I still be an offender, if...?

Live Mint  

Hitting back at FM Nirmala Sitharaman's claim of recovering properties worth ₹14,131.6 crore, fugitive liquor baron Vijay Mallya on Wednesday said that he is entitled for relief and the agencies should legally justify how they have taken more than two times the debt. Responding to FM Sitharaman's claim Mallya said that debt recovery tribunal has adjusted his debt at ₹6203 …

ED restores Rs 22,000 crore of assets from Vijay Mallya, Nirav Modi: Minister
3 months, 1 week ago

ED restores Rs 22,000 crore of assets from Vijay Mallya, Nirav Modi: Minister

India Today  

Union Finance Minister Nirmala Sitharaman on Tuesday revealed that the Enforcement Directorate has successfully restored assets worth Rs 22,280 crore to victims and rightful claimants, asserting the government's relentless commitment to combating economic offenders. The Finance Minister pointed out that among the major cases, the ED has recovered properties valued at Rs 14,131.6 crore belonging to fugitive businessman Vijay Mallya, …

From Vijay Mallya to Nirav Modi — ED restores over ₹22,000 crore worth assets from high-profile cases. Check full list
3 months, 1 week ago

From Vijay Mallya to Nirav Modi — ED restores over ₹22,000 crore worth assets from high-profile cases. Check full list

Live Mint  

From fugitive Vijay Mallya, Nirav Modi to Mehul Choksi — the Enforcement Directorate has restored properties worth ₹22,280 crore — said Finance Minister Nirmala Sitharaman on Tuesday. Recovery from Vijay Mallya Sitharaman said that ₹14,131.6 crore worth properties belonging to fugitive Vijay Mallya have been restored to public sector banks. Here's the full list Nirav Modi: ₹1,052.58 crore has been …

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports
3 months, 2 weeks 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 …

Banks write off ₹10.57 lakh crore in 5 years, make NPA recovery worth ₹7.17 lakh cr: FinMin
1 year, 3 months 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 …

Private firm under CBI scanner for causing losses of ₹387 crore to banks
1 year, 7 months ago

Private firm under CBI scanner for causing losses of ₹387 crore to banks

Hindustan Times  

MUMBAI: The Central Bureau of Investigation has initiated two separate probes against a private firm for allegedly cheating and causing losses to the tune of around ₹387 crore to the Canara Bank and the Central Bank of India. The bank’s complaint accused Varun Industries Ltd, and its directors, unknown directors/ officials of the company, unknown public servant, and others for …

Banks recovered more than Rs 10 lakh crores from NPAs in the last nine years: Finance Ministry tells Lok Sabha
1 year, 8 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 …

Nirmala Sitharaman Asks Banks Not to Take Harsh Steps For Loan Recovery
1 year, 8 months ago

Nirmala Sitharaman Asks Banks Not to Take Harsh Steps For Loan Recovery

Deccan Chronicle  

MUMBAI: Union Finance Minister Nirmala Sitharaman on Monday said that both public and private sector banks have been instructed not to take harsh steps to recover loans and that they should handle such cases with sensitivity. The central bank said banks, non-banking financial companies, cooperative banks, housing finance and asset reconstruction companies should ensure recovery agents desist from publicly humiliating …

Canara Bank was top lender to public sector cos in FY23
1 year, 8 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 …

Has India tided over the problem of bad loans?
2 years, 2 months ago

Has India tided over the problem of bad loans?

The Hindu  

The story so far: In December 2022, Finance Minister Nirmala Sitharaman told Parliament that banks had written off bad loans worth ₹10,09,511 crore during the last five financial years. In 2009, the RBI brought out norms that set out categories of NPAs and what banks must do as these bad loans aged. Bad loans are a problem, for, with time, …

Banks have struggled to recover written-off loans for two decades
2 years, 3 months ago

Banks have struggled to recover written-off loans for two decades

Live Mint  

Write-offs are not waivers. Data shared by the ministry of finance in the Lok Sabha provides details of written-off loans recovered by our public sector banks over the last five years. Also, the total written-off loans recovered by public sector banks in the last five years was 14% of the total loans written off during the period. During the period …

Banks write off loans worth Rs 11.17 lakh crore in last 6 years
2 years, 3 months 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 | Loans worth 10.09 lakh crore written off in 5 years: FM Nirmala Sitharaman
2 years, 3 months ago

Parliament proceedings | Loans worth 10.09 lakh crore written off in 5 years: FM Nirmala Sitharaman

The Hindu  

Loans amounting to over ₹10.09 lakh crore have been written off by scheduled commercial banks in the past five financial years but the process of recovery of dues from the NPA accounts is an on-going process, Finance Minister Nirmala Sitharaman told the Lok Sabha on December 19, 2022. Ms Sitharaman said RBI data point to public sector banks recovering ₹4,80,111 …

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

Bad loans: Why, this time, it’s different
3 years 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 …

Decks cleared for bad bank to start
3 years, 1 month ago

Decks cleared for bad bank to start

Deccan Chronicle  

Mumbai: Decks have been cleared for India to have its own bad bank with all requisite approvals in place, including from the RBI. The bad bank, or the National Asset Reconstruction Company Ltd, will acquire bad loans from banks to help clean up their books, while the India Debt Resolution Company Ltd will handle the debt resolution process of these …

TMS Ep72: Ed-tech, FICCI's Sanjiv Mehta, markets in 2021, loans
3 years, 3 months ago

TMS Ep72: Ed-tech, FICCI's Sanjiv Mehta, markets in 2021, loans

Business Standard  

The government came out with an advisory last Thursday, asking parents to exercise caution while dealing with companies offering online classes for children. Scores of dos and don’ts suggested by the government raised question marks over the way the educational technology or edtech companies were functioning in the country.Despite concerns over the quality of courses and aggressive sales culture, edtech …

13k cr recovered from asset sale of Nirav Modi, Vijay Mallya: FM
3 years, 3 months ago

13k cr recovered from asset sale of Nirav Modi, Vijay Mallya: FM

Op India  

Union Finance Minister Nirmala Sitharaman on Monday informed how banks have collected roughly Rs 13,109 crore from asset sales of defaulters such as fugitive diamantaire Nirav Modi, Mehul Choksi, and erstwhile liquor baron Vijay Mallya. Fugitive businessman and prime accused in the Rs 14,000 crore PNB scam, Nirav Modi is currently lodged in the Wandsworth jail in southwest London and …

Banks recovered ₹13,100 crore from assets sale of defaulters like Vijay Mallya, Nirav Modi: Nirmala Sitharaman
3 years, 3 months ago

Banks recovered ₹13,100 crore from assets sale of defaulters like Vijay Mallya, Nirav Modi: Nirmala Sitharaman

Hindustan Times  

Finance Minister Nirmala Sitharaman on Monday said that banks have recovered ₹13,109.17 crore from asset sale of fugitives like Vijay Mallya, Nirav Modi and Mehul Choksi. Of which, she said, ₹2.99 lakh crore is the additional cash outgo because of big ticket expenditure going for Air India and rise in fertilizer subsidy due to firming up of global prices. As …

'Wrongdoers And Money Will Be Bought Back': FM Nirmala Sitharaman
3 years, 4 months ago

'Wrongdoers And Money Will Be Bought Back': FM Nirmala Sitharaman

ABP News  

New Delhi: Union Finance Minister Nirmala Sitharaman on Tuesday stated that all money stolen from banks will be returned since the government is vigorously investigating instances of loan defaulters, whether they are in India or abroad. Govt Pursuing Loan Defaulters: She stated that the government prosecuted defaulters who took out loans and allowed them to become non-performing assets by failing …

'Daring Govt Brings Them Back': PM Modi On Recovering Money From Runaway Bank Loan Defaulters
3 years, 4 months ago

'Daring Govt Brings Them Back': PM Modi On Recovering Money From Runaway Bank Loan Defaulters

ABP News  

New Delhi: Prime Minister Narendra Modi addressed a symposium to ‘Build Synergy for Seamless Credit Flow & Economic Growth’ on Thursday and spoke about the reforms made by the government in the banking sector. PM Modi said, "Reforms brought in by Govt in the banking sector and support to the sector in every way in the last 6-7 years have …

ED attaches Rs 1.74 crore bank balance in fraud case against Bhushan Power
3 years, 5 months ago

ED attaches Rs 1.74 crore bank balance in fraud case against Bhushan Power

India Today  

The Enforcement Directorate has attached bank balance to the tune of Rs 1.74 crore in connection with a money laundering case involving Bhushan Power & Steel Limited, officials said. The development came just a week after the financial probe agency had attached a residential building in Mumbai’s posh Worli area in connection with a money laundering case lodged against Bhushan …

Bad bank to get Centre's boost
3 years, 6 months ago

Bad bank to get Centre's boost

Deccan Chronicle  

New Delhi: The government on Thursday approved a proposal to provide Rs 30,600-crore government guarantee for security receipts issued by National Asset Reconstruction Company Limited, widely known as the “bad bank”, which will buy stressed loans of lenders. A ‘bad bank’ is a bank that buys the bad loans of other lenders and financial institutions to help them to clear …

Nirmala Sitharaman lays out 'bad bank' blueprint, approves Rs 30,600-crore govt guarantee
3 years, 6 months ago

Nirmala Sitharaman lays out 'bad bank' blueprint, approves Rs 30,600-crore govt guarantee

Firstpost  

The bad bank or NARCL will pay up to 15 percent of the agreed value for the loans in cash and the remaining 85 percent would be government-guaranteed security receipts New Delhi: Finance Minister Nirmala Sitharaman on Thursday announced a Rs 30,600 crore government guarantee for the National Asset Reconstruction Company Limited for acquiring stressed loan assets, paving the way …

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

DHFL Insolvency Case: Auditor Grant Thornton Flags Fraudulent Transactions Worth Rs 17,394 Crore
4 years, 6 months ago

DHFL Insolvency Case: Auditor Grant Thornton Flags Fraudulent Transactions Worth Rs 17,394 Crore

News 18  

Fraudulent transactions worth Rs 17,394 crore happened at debt-ridden mortgage firm DHFL during FY07 to FY19, according to transaction auditor Grant Thornton. Earlier this year, the administrator of Dewan Housing Finance Corporation Limited, appointed under the Insolvency and Bankruptcy Code, obtained assistance from Grant Thornton to conduct investigation into the affairs of the mortgage firm. "…and additionally Rs 3,348 crore …

FM Sitharaman to meet bankers on loan recast on Thursday
4 years, 6 months ago

FM Sitharaman to meet bankers on loan recast on Thursday

The Hindu  

Ahead of the roll out of one-time debt recast for resolution of COVID-19 related stress in bank loans, Finance Minister Nirmala Sitharaman will hold a review meeting with bankers and heads of non-banking financial companies on September 3 for smooth and speedy implementation of the scheme. “The review will focus on enabling businesses and households to avail of the revival …

He was a debt collector at age 12. Now, at SBI, he is chasing ₹1.5 lakh crore
4 years, 9 months ago

He was a debt collector at age 12. Now, at SBI, he is chasing ₹1.5 lakh crore

Live Mint  

From the age of 12, Challa Sreenivasulu Setty spent his school vacations collecting debts for his father’s grocery store in the small south Indian village of Potlapadu. One-Time Settlements “We prefer one-time settlements at SBI over long litigations,” Setty said of his first principle. “It is very difficult to state what approach we will take” on recovering loans from companies, …

10 Key Takeaways | FM Nirmala Sitharaman Unveils First Part Of Rs 20 Lakh Cr Economic Stimulus
4 years, 10 months ago

10 Key Takeaways | FM Nirmala Sitharaman Unveils First Part Of Rs 20 Lakh Cr Economic Stimulus

ABP News  

New Delhi: First in the series of press briefings over Prime Minister Narendra Modi's mega 'Atmanirbhar Bharat Abhiyan', Finance Minister Nirmala Sitharam on Wednesday unveiled the details of the special economic package worth Rs 20 lakh crore. For MSMEs needing handholding, Government announced Rs 50,000 crore Fund of Funds through mother fund - daughter fund to expand their capacity and …

Finance Minister Nirmala Sitharaman postpones meet with PSB chiefs to later this week
4 years, 10 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 …

Show loans taken by fugitives as outstanding: Chidambaram
4 years, 10 months ago

Show loans taken by fugitives as outstanding: Chidambaram

The Hindu  

Former Union Finance Minister P. Chidambaram on Thursday said banks should show loans taken by fugitives Vijay Mallya, Mehul Choksi and Nirav Modi as ‘outstanding loans’ in their account books instead of writing them off. “The only way to undo the monumental error is for RBI to direct the banks concerned to reverse the entries and continue to show the …

Congress accuses Centre of weakening banking architecture
4 years, 10 months ago

Congress accuses Centre of weakening banking architecture

The Hindu  

The Congress on Wednesday sparred with Union Finance Minister Nirmala Sitharaman over allegations that the Centre had written off Rs 68,607 crore worth bank loans taken by top 50 defaulters, including fugitives like Nirav Modi, Mehul Choksi and Vijay Mallya. Former Union Finance Minister P. Chidambaram, in an online press conference, said he was aware of the technical rule that …

Wilful defaulters beneficiaries of 'phone banking' under UPA regime, Modi govt chasing them to recover dues: Nirmala Sitharaman
4 years, 10 months ago

Wilful defaulters beneficiaries of 'phone banking' under UPA regime, Modi govt chasing them to recover dues: Nirmala Sitharaman

Firstpost  

Hitting out at the Congress party, Finance Minister Nirmala Sitharaman has said that wilful defaulters were beneficiaries of ‘phone banking’ under the UPA regime and the Modi government is chasing them to recover the dues New Delhi: Hitting out at the Congress party, Finance Minister Nirmala Sitharaman has said that wilful defaulters were beneficiaries of ‘phone banking’ under the UPA …

Wilful defaulters beneficiaries of ‘phone banking’ under UPA regime: Nirmala Sitharaman
4 years, 10 months ago

Wilful defaulters beneficiaries of ‘phone banking’ under UPA regime: Nirmala Sitharaman

The Hindu  

Hitting out at the Congress party, Finance Minister Nirmala Sitharaman has said that wilful defaulters were beneficiaries of ‘phone banking’ under the UPA regime and the Modi government is chasing them to recover the dues. She was responding to the opposition’s allegations of loan waivers worth ₹ 68,607 crore in the form of write-offs of top 50 wilful defaulters during …

Over Rs 68,600 cr loans of wilful defaulters written off; Mehul Choksi, Vijay Mallya's firms among list: RBI in RTI reply
4 years, 10 months ago

Over Rs 68,600 cr loans of wilful defaulters written off; Mehul Choksi, Vijay Mallya's firms among list: RBI in RTI reply

Firstpost  

Outstanding loans amounting to Rs 68,607 crore of top 50 wilful bank loan defaulters in the country including firms of Mehul Choksi and Vijay Mallya have been technically written off till 30 September, 2019, the Reserve Bank of India said in a RTI reply New Delhi: Outstanding loans amounting to Rs 68,607 crore of top 50 wilful bank loan defaulters …

Yes Bank crisis: Bad loans worth Rs 20,000 crore granted on Rana Kapoor's direction
5 years ago

Yes Bank crisis: Bad loans worth Rs 20,000 crore granted on Rana Kapoor's direction

India Today  

The total exposure of Yes Bank could be over 2.25 lakh crore but of that, the non-performing assets are reportedly around Rs 42,000 crore. As per officials of the Enforcement Directorate, interrogating Yes Bank founder Rana Kapoor, of these Rs 42,000 crore loans that turned into NPAs, Rs 20,000 crore were allegedly offered to some corporate companies and Non-Banking Financial …

Saying ‘yes’ to troubled borrowers cost lender dear
5 years ago

Saying ‘yes’ to troubled borrowers cost lender dear

The Hindu  

Yes Bank, one of the few greenfield banks that were allowed to start banking operations by Reserve Bank of India in the post liberalisation era, became the bank to go to for all those corporate borrowers whom other lenders did not oblige. As on March 31, 2014, the bank’s loan book was ₹55,633 crore and deposits were ₹74,192 crore. Stressed …

In 2020, muted credit growth, not bad loans, will be banks’ main concern; a lot will depend on early economic rebound
5 years, 2 months ago

In 2020, muted credit growth, not bad loans, will be banks’ main concern; a lot will depend on early economic rebound

Firstpost  

In the first seven months of the current financial year, the credit growth to large industries contracted by 3.4 percent as against a growth of 0.2 percent in the year-ago period. The gross NPA ratio of banks, which stood at 9.3 percent of the total loans in March 2019 could rise to close to 10 percent in September 2020, according …

Gross NPAs on a decline for first time in seven years: RBI report
5 years, 3 months ago

Gross NPAs on a decline for first time in seven years: RBI report

Op India  

The efforts of the Narendra Modi government to clean up country’s banking system from the Non-Performing Assets mess seems to be yielding results as the gross non-performing loans of banks improved to 9.1% as of end-September 2019, compared to 11.2% in the fiscal year 2018. Reportedly, the non-performing assets reported by banks have shown a decline for the first time …

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

RBI finds Yes Bank under-reported bad loans by ₹3,277 crore in FY19
5 years, 4 months 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 …

Banks to get Rs 70,000 crore more, system to bulge by Rs 5 lakh crore
5 years, 7 months ago

Banks to get Rs 70,000 crore more, system to bulge by Rs 5 lakh crore

Deccan Chronicle  

Mumbai: The government took a heads-on approach to address the slump in the economy, deciding to infuse Rs 70,000 crore budgeted for the recapitalisation of public sector banks in the current financial year, on an immediate basis. The move is expected to generate an additional lending and liquidity in the financial system to the tune of Rs 5 lakh crore, …

Opinion | Sitharaman’s credit nudge
5 years, 7 months ago

Opinion | Sitharaman’s credit nudge

Live Mint  

Loan seekers have some cause for cheer. Finance minister Nirmala Sitharaman has announced that ₹70,000 crore set aside by the government’s budget for the recapitalization of state-owned banks shall be done rightaway. The declaration comes as part of a series of measures being taken to help the economy tide over its current woes, a significant fraction of which can be …

Banks bad loans down at Rs 9.34 lakh cr at FY19-end: Nirmala Sitharaman
5 years, 8 months ago

Banks bad loans down at Rs 9.34 lakh cr at FY19-end: Nirmala Sitharaman

India TV News  

Total bad loans of commercial banks declined by Rs 1.02 lakh crore to Rs 9.34 lakh crore in the 2018-19 fiscal on the back of steps taken by the government, Finance Minister Nirmala Sitharaman said Tuesday. "Enabled by these steps, as per RBI data on global operations, the NPAs of scheduled commercial banks, after reaching a peak of Rs 10,36,187 …

Banks to recover dues from personal assets of defaulters
5 years, 9 months ago

Banks to recover dues from personal assets of defaulters

India TV News  

Bank unions have called upon finance minister Nirmala Sitharaman to enact strong recovery laws with a provision to confiscate personal assets of directors of defaulting companies. In a pre-budget representation, the All-India Bank Employees Association said, "to facilitate loan recoveries, laws should be enacted/amended to confiscate personal assets of the directors in case of default by a company." Fast-track courts …

PNB admits staggering loan defaults Rs 25,000-crore
5 years, 9 months ago

PNB admits staggering loan defaults Rs 25,000-crore

India TV News  

The beleaguered public sector Punjab National Bank has admitted to 1,142 big and small defaulters all over India who have defaulted a stupendous Rs 25,090.3 crore. The veritable ‘hit-list' prepared by the country's second largest PSB covers all defaulters owing PNB Rs 25 lakh and above, through all its branches in all states, with the highest numbers emerging from Maharashtra, …

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