Parliament proceedings | Banks wrote off ₹1.15 lakh cr. in nine months of FY21: Anurag Thakur
3 years, 9 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 the balance-sheet of the bank concerned by way of write-off, Minister of State for Finance Anurag Singh Thakur said in a written reply to the Lok Sabha. “As per RBI data, scheduled commercial banks have written off loans of ₹2,36,265 crore, ₹2,34,170 crore and ₹1,15,038 crore during FY2018-19, FY2019-20 and the first three-quarters of FY2020-21 respectively,” he said. Regarding recovery of written off bank loans, he said, “as per RBI guidelines, banks are required to have a loan recovery policy, duly vetted by their boards, that set down the manner of recovery of dues, period-wise targeted level of reduction in non-performing assets, etc.” “A number of recovery mechanisms are available to banks to effect recovery, such as filing of a suit in civil courts or in Debts Recovery Tribunals, action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, filing of cases in the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016, through negotiated settlement/ compromise, and through the sale of non-performing assets,” he said. In the last two financial years and the first three-quarters of the current financial year, as per RBI data, SCBs recovered an amount of ₹3,68,636 crore, including the recovery of ₹68,219 crore from written off loan accounts, he said.

Recovery Crore Rbi Banks Written Thakur Rbi Guidelines  written  rbi  nonperforming  assets  months  recovery  loans  anurag  crore  proceedings  fy21  wrote  cr  parliament  banks  unauthorised  thakur  lakh

History of this topic

Bad Loans in P2P Lending Double in FY24
1 week, 1 day ago

Bad Loans in P2P Lending Double in FY24

Deccan Chronicle  

Mumbai: Bad loans in the peer-to-peer lending industry have more than doubled in financial year 2024 to Rs 1,163 crore from Rs 472.1 crore in FY23, a 146 per cent rise. According to an RTI response to Capitalmind Financial Services by the Reserve Bank of India, bad loans in P2P lending touched Rs 1,163 crore at the end of the …

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

Canara Bank Reports 11.31% Net Profit Growth in Q2 FY25
1 month, 3 weeks ago

Canara Bank Reports 11.31% Net Profit Growth in Q2 FY25

The Hindu  

Canara Bank reports a strong Q2 performance with a 11.31% increase in net profit to ₹4,014 crore. The bank's net interest income also saw a significant rise, reaching ₹9,315 crore, compared to ₹8,903 crore in the corresponding quarter last year. The bank's NPAs have been reduced significantly, with the MSME sector NPA ratio dropping to 7.1% in Q2, down from …

HDFC Bank to Announce Q2 FY25 Financial Results on October 19, Check Details
3 months, 1 week ago

HDFC Bank to Announce Q2 FY25 Financial Results on October 19, Check Details

News 18  

HDFC Bank, India’s largest private sector lender, on Monday said it will announce its second-quarter results for the current financial year 2024-25 on October 19. In a BSE filing, the company said its board of directors will meet on October 19, 2024, “to inter-alia consider and approve the un-audited standalone and consolidated financial results for the quarter/half-year ending September 30, …

ICICI Bank Q1 net profit grows 14.6% to ₹11,059 crore
4 months, 3 weeks ago

ICICI Bank Q1 net profit grows 14.6% to ₹11,059 crore

The Hindu  

ICICI Bank Ltd. reported Q1 FY25 net profit grew 14.6% year-on-year to ₹11,059 crorebeating estimates led by treasury gains and other income. Net interest income of the private sector bank for June quarter rose 7.3% YoY to ₹19,553 crore, the bank said in a filing. “We are comfortable with the asset quality andour strategy is to grow in a risk …

Federal Bank Q1 net profit grows 18.25% to ₹1,010 crore
5 months ago

Federal Bank Q1 net profit grows 18.25% to ₹1,010 crore

The Hindu  

Federal Bank Ltd. reported Q1 FY25 net profit rose 18.3% year-on-year to ₹1,009.53 crore. Net advances rose to ₹2,20,806.41 crore, from ₹1,83,487.41 crore in the year-earlier period. Gross NPA at the end of Q1 FY25 was ₹4738.35 crore, which as a percentage to Gross Advances was 2.11%, while net NPA and as a percentage to net advances was ₹1330.44 crore …

Tamil Nadu government plans to borrow ₹24,000 crore in Q2, 2024-25
5 months, 3 weeks ago

Tamil Nadu government plans to borrow ₹24,000 crore in Q2, 2024-25

The Hindu  

Tamil Nadu government plans to borrow ₹24,000 crore in the second quarter of fiscal 2024-2025, as per the Indicative Calendar of Market borrowings by State governments/Union Territories, released by the Reserve Bank of India. Tamil Nadu government plans to borrow a total amount of ₹1,55,584.48 crore during 2024-25 and make repayment of ₹49,638.82 crore, as per the State Budget. At …

RBI imposes 1.45 crore fine on Central Bank of India, 96.4 lakh fine on Bangladesh's Sonali Bank
6 months, 1 week ago

RBI imposes 1.45 crore fine on Central Bank of India, 96.4 lakh fine on Bangladesh's Sonali Bank

Hindustan Times  

The Reserve Bank of India imposed a fine of ₹1.45 crore on the Central Bank of India and ₹96.4 lakh on Sonali Bank PLC for non-compliance issues including loans and advances and Know Your Customer norms, PTI reported. Representational The Central Bank of India was fined ₹1.45 crore for sanctioning a working capital demand loan to a corporation against amounts …

RBI imposes ₹2.49 crore penalty on Dhanlaxmi Bank, Punjab and Sind Bank and ESAF Small Finance Bank
11 months, 1 week ago

RBI imposes ₹2.49 crore penalty on Dhanlaxmi Bank, Punjab and Sind Bank and ESAF Small Finance Bank

The Hindu  

The Reserve Bank on Friday said it has imposed penalties totalling ₹2.49 crore on three banks, including Dhanlaxmi Bank and Punjab and Sind Bank, for contravention of regulatory norms. A penalty of ₹1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on 'Loans and Advances — Statutory and Other Restrictions', KYC and certain norms related to …

RBI imposes fine on 3 banks for non-compliances, check details
11 months, 1 week ago

RBI imposes fine on 3 banks for non-compliances, check details

Live Mint  

The Reserve Bank of India on 12 January imposed monetary penalties, of varying degrees, against ESAF Small Finance Bank, Dhanlaxmi Bank, and Punjab and Sind Bank over various non-compliances. A penalty of ₹1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on 'Loans and Advances – Statutory and Other Restrictions', KYC, and certain norms related to …

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

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY
1 year, 1 month ago

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY

Live Mint  

PNB Q2 Results: Punjab National Bank, the state-run lender, reported a sharp jump of 327% in its net profit for the second quarter of FY24 led by lower provisions. PNB’s net profit in Q2FY24 surged to ₹1,756 crore from ₹411.3 crore in the same quarter last year. PNB’s net interest income during the July-September 2023 quarter rose 20% to ₹9,923 …

Federal Bank Q2 results: Profit jumps 35.5% as provisions fall
1 year, 2 months ago

Federal Bank Q2 results: Profit jumps 35.5% as provisions fall

Live Mint  

Mumbai: Private sector lender Federal Bank on Monday reported a 35.5% year-on-year jump in net profit at ₹954 crore in the September quarter owing to lower provisions. “The environment continues to be reasonably encouraging.” Federal Bank’s asset quality improved as its gross bad loans as a percentage of gross advances stood at 2.26%, down from 2.38% in the June quarter …

RBI refused Rs 2-3 lakh crore transfer to government in 2018: Viral Acharya
1 year, 3 months ago

RBI refused Rs 2-3 lakh crore transfer to government in 2018: Viral Acharya

India Today  

Former RBI deputy governor Viral Acharya shared more details about the events that led to the public clash between the government and the Reserve Bank of India in 2018, just a year before the 2019 Lok Sabha elections. In an updated prelude to his book, Quest for Restoring Financial Stability, he disclosed that the Reserve Bank of India refused the …

Bank deposits increase by Rs 24,102cr in quarter
1 year, 4 months ago

Bank deposits increase by Rs 24,102cr in quarter

Deccan Chronicle  

HYDERABAD: Total deposits in banks increased by Rs24,102 crore in the quarter, taking the total deposits to Rs7,07,108 crore, SBI’s chief general manager stated in the State Level Bankers’ Committee meeting on Monday for a review of the quarter ended June 2023. During the first quarter of the current financial year, banks have disbursed short-term production loans amounting to Rs11,929 …

Credit card default rises to Rs 4,072 crore in FY23
1 year, 4 months ago

Credit card default rises to Rs 4,072 crore in FY23

India TV News  

Credit card default rose to Rs 4,072 crore or 1.94 per cent at the end of March 2023, Parliament was informed on Tuesday. "As per the inputs received from RBI, in respect of defaults in credit cards, the gross non-performing assets in credit cards was Rs 3,122 crore in March-2022 and Rs 4,072 crore in March-2023, while credit card outstanding …

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 …

Cleaning up of NPA mess will propel the economy
1 year, 5 months ago

Cleaning up of NPA mess will propel the economy

Hindustan Times  

To understand the complexities of India’s banking sector, one needs to grapple with a term that tends to recur with unsettling regularity – non-performing assets. The gross NPA ratio of scheduled commercial banks stood at 4.9%, and ₹66.6 lakh crore in March 2014 were bad loans. The National Democratic Alliance government took several steps to address the NPA problem, including …

Bank of Maharashtra Q1 net profit jumps 95% to ₹882 crore; NII rises 39% YoY
1 year, 5 months ago

Bank of Maharashtra Q1 net profit jumps 95% to ₹882 crore; NII rises 39% YoY

Live Mint  

Bank of Maharashtra, the state-run lender, reported a standalone net profit of ₹882.08 crore in the first quarter of FY24, recording a sharp growth of 95.2% from ₹451.90 crore in the corresponding quarter of last fiscal. Net Interest Income, which is the difference between interest earned and interest expended, during Q1FY24 rose 38.8% to ₹2,339.7 crore from ₹1,685.7 crore, YoY. …

HDFC Bank Q1 net profit rises 30% YoY to ₹11,952 crore; NII jumps 21%
1 year, 5 months ago

HDFC Bank Q1 net profit rises 30% YoY to ₹11,952 crore; NII jumps 21%

Live Mint  

HDFC Bank, the largest private lender in the country, reported a standalone net profit of ₹11,951.7 crore for the quarter ended June 2023, registering a growth of 30% from ₹9,196 crore in the same quarter last year. HDFC Bank's total deposit showed a healthy growth and were at ₹19,13,096 crore as of June 30, 2023, an increase of 19.2% over …

Net profit of PSBs almost tripled to ₹1.04 lakh in FY2022-23: FM Sitharaman
1 year, 5 months ago

Net profit of PSBs almost tripled to ₹1.04 lakh in FY2022-23: FM Sitharaman

Live Mint  

Finance Minister Nirmala Sitharaman on Saturday appreciates the state-run banks for becoming profiteering. According to the union Finance Minister, the net profit of public sector banks has almost tripled to ₹1.04 lakh crore in fiscal 2022-23. "The Non-Performing Assets of the Indian banks is estimated to reduce further to a decadal low of 3.8% by end of FY 2023-24," Sitharaman …

RBI Likely To Tighten Norms For Unsecured Lending Portfolios Of Banks: Report
1 year, 6 months ago

RBI Likely To Tighten Norms For Unsecured Lending Portfolios Of Banks: Report

ABP News  

The Reserve Bank of India is looking to tighten scrutiny on the unsecured lending portfolios of banks amid the growing risk of potential defaults, citing banking sources news agency Reuters said. We can expect the RBI to increase risk weights on unsecured personal loans and credit cards and, or, float a discussion paper on how to monitor the space more …

Fino Payments Bank Q4 profit up 25% at ₹22 crore
1 year, 7 months ago

Fino Payments Bank Q4 profit up 25% at ₹22 crore

Live Mint  

Mumbai: Fino Payments Bank has reported a net profit of ₹22.1 crore in the three months through March, up 25.4% from a year ago. Net revenue grew 18.2% year-on-year to ₹105.8 crore in the March quarter of FY23 and its earnings before interest, taxes, depreciation, and amortization rose 46.3% y-o-y to ₹43 crore. The bank said its total deposits increased …

State-Owned Banks Write Off Rs 29,000-Crore Bad Loans In December 2022 Quarter: Report
1 year, 10 months ago

State-Owned Banks Write Off Rs 29,000-Crore Bad Loans In December 2022 Quarter: Report

News 18  

State-owned banks wrote off bad loans worth Rs 29,000 crore in the December 2022 quarter, higher as compared with Rs 23,000 crore in the corresponding quarter last year, as part of a clean-up exercise, according to a CARE Ratings report. The write-offs by public sector banks in April-December 2022 were Rs 81,000 crore, which were lower than the Rs 90,000 …

Budget 2023 | Govt to borrow record ₹15.4 lakh crore in FY24 to bridge revenue gap
1 year, 10 months ago

Budget 2023 | Govt to borrow record ₹15.4 lakh crore in FY24 to bridge revenue gap

The Hindu  

The government plans to borrow a record ₹15.4 lakh crore from dated securities in FY24 to meet its expenditure requirement to prop up the economy. Finance Minister Nirmala Sitharaman while presenting the Budget on February 1 said the net market borrowings from dated securities are estimated at ₹11.8 lakh crore to finance the fiscal deficit in 2023-24. The gross market …

ECONOMIC PERSPECTIVES | Is a reversal of bank nationalisation on the cards?
1 year, 10 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 …

Indian Banks GNPAs Down To 5% In September 2022, Macroeconomic Conditions Can Impact Banks Health RBI Report
1 year, 11 months ago

Indian Banks GNPAs Down To 5% In September 2022, Macroeconomic Conditions Can Impact Banks Health RBI Report

ABP News  

Gross Non-Performing Assets of Indian banks declined to 5 per cent in september but the present macroeconomic environment can impact lenders' health, said a new Reserve Bank of India report. The report said, “from its peak in 2017-18, the GNPA ratio of SCBs has been declining sequentially to reach 5 per cent at end-September 2022.” It said that the number …

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 | Loans worth 10.09 lakh crore written off in 5 years: FM Nirmala Sitharaman
2 years 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 …

Yes Bank is confident of 15% credit growth in FY23
2 years, 5 months ago

Yes Bank is confident of 15% credit growth in FY23

Live Mint  

Yes Bank management on Saturday said that it is confident of meeting the 15% credit growth guidance for the fiscal year 2023, even as it reported a 50% year-on-year jump in net profit during the first quarter of the fiscal year owing to lower provisions. The private sector lender reported a net profit of ₹314 crore at the end of …

ICICI Bank reports 50% rise in Q1 net profit
2 years, 5 months ago

ICICI Bank reports 50% rise in Q1 net profit

Live Mint  

ICICI Bank on Saturday reported a standalone net profit of ₹6,905 crore in the June quarter of FY23, up 50% from ₹4,616 crore in the same period last year, owing to higher net interest income and lower provisions. ICICI Bank’s provision coverage ratio, a measure of the funds set aside to cover bad loans, stood at 79.6% as on 30 …

‘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 …

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 …

Credit-starved India Cannot Achieve Double-digit Growth. It Needs Digital Banks for Lending
3 years ago

Credit-starved India Cannot Achieve Double-digit Growth. It Needs Digital Banks for Lending

News 18  

The Indian economy might have been “liberalized” since the early 1990s, yet a sector–banking–still exists where a license is given and the business model defined by the regulator. The need for regulation for digital banks arises as traditional universal banks like Kotak are already offering digital banking through their 811 service. These banks can leverage a new deposit base like …

Rs.1.53 lakh crore bad loan write-off gives a facelift to banks’ NPA profile
3 years, 6 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 …

RBI limits tenure of bank CEOs, MDs to 15 years, rule to be effective from October 1
3 years, 7 months ago

RBI limits tenure of bank CEOs, MDs to 15 years, rule to be effective from October 1

India Today  

The Reserve Bank of India said on Monday chief executive officers and managing directors at Indian private-sector banks will be eligible to hold these posts for up to 15 years, as it unveiled a series of rules on term limits. RBI'S NEW RULE The central bank also said on Monday that a CEO, MD or whole-time director who is a …

Parliament proceedings | Banks' NPAs decline to ₹8.08 lakh crore in Sept 2020: Govt
3 years, 10 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 …

ICICI Bank Q3 net profit rises 19% to ₹4,940 cr
3 years, 10 months ago

ICICI Bank Q3 net profit rises 19% to ₹4,940 cr

Live Mint  

Private sector lender ICICI Bank on Saturday reported 19% increase in net profit at ₹4,940 crore for the quarter ending 31 December, 2020. Total income of country's second largest private sector lender by assets increased 3% to ₹24,416 crore as compared to ₹23,638 crore in year-ago period. Term deposits grew by 26% year-on-year at 31 December, 2020 The lender’s net …

Data | Why did bad loans in banks reduce despite COVID-19 and economic downturn?
3 years, 11 months 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 …

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

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline
4 years, 1 month ago

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline

News 18  

State-owned Indian Overseas Bank on Friday reported a net profit of Rs 148 crore for the second quarter of current fiscal as bad loans and provisions declined. Sequentially, net profit grew 22.3 per cent from Rs 121 crore in June quarter of this fiscal. Total income rose 8.1 per cent to Rs 5,431 crore during the quarter under review as …

Gross NPAs of banks may jump to 11.5% by end of FY21: Care Rating
4 years, 2 months ago

Gross NPAs of banks may jump to 11.5% by end of FY21: Care Rating

Live Mint  

The gross non-performing assets ratio of Indian banks is likely to be 11 to 11.5% by end of current fiscal and they are likely to restructure 4 to 5% of the overall bank credit outstanding, according to Care Rating. Multiple stakeholder objectives and moratorium computation with various firms have varying ways of computing moratorium, said the rating agency. The GNPA …

Banks' NPAs in Large Industry, Services Fall 31 per cent in Over Two Years to Rs 4.36 Lakh Crore
4 years, 3 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 …

No proposal for raising FII limit in PSBs to 49%: Anurag Singh Thakur
4 years, 3 months ago

No proposal for raising FII limit in PSBs to 49%: Anurag Singh Thakur

Live Mint  

New Delhi: There is no proposal for raising Foreign Institutional Investment ceiling in public sector banks to 49 per cent from 20 per cent for capital mobilisation, Minister of State for Finance Anurag Singh Thakur informed the Lok Sabha on Monday. "No proposal to amend this, is currently under consideration of the government," he said while replying to a question …

Bank Credit Grows 5.52% in Fortnight Ended Aug 14: RBI Data
4 years, 3 months ago

Bank Credit Grows 5.52% in Fortnight Ended Aug 14: RBI Data

News 18  

Bank credit grew 5.52 per cent to Rs 102.19 lakh crore and deposits increased 11.04 per cent to Rs 140.80 lakh crore in the fortnight ended August 14, according to RBI data. In the previous fortnight ended July 31, 2020, bank credit grew 5.51 per cent while deposits witnessed a growth of 11.11 per cent. On a year-on-year basis, non-food …

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 …

Fitch Ratings Revises India’s Outlook to ‘Negative’ From ‘Stable’
4 years, 6 months ago

Fitch Ratings Revises India’s Outlook to ‘Negative’ From ‘Stable’

The Quint  

Fitch Ratings noted that India’s fiscal metrics have deteriorated significantly, notwithstanding the government's expenditure restraint, due to the impact of the severe growth slowdown on revenue. This is significantly higher than the median of 42.2% of GDP for the 'BBB' category in 2019, to which FY20 corresponds, and 52.6% for 2020.” A statement from the rating agency said that liquidity …

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