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 to generating employment, and providing access to easy finance to small enterprises. “Scheduled Commercial Banks and Regional Rural Banks have reported that as of March 2019, against a total amount of Rs 6.04 lakh crore disbursed by them under PMMY since inception of the scheme, an amount of Rs 17,251.52 crore had turned into Non-Performing Assets, which is 2.86 percent of the total disbursed amount,” the minister said. Of these, write-offs in loans pertaining to ‘agriculture and allied activities’ were Rs 2,833 crore, Rs 6,361 crore, Rs 7,091 crore, Rs 10,345 crore and Rs 12,556 crore in those financial years respectively.

Loans Lakh Crore Mudra Pmmy  pmmy  turn  loans  financial  npas  minister  mudra  nearly  rs  lakh  crore  turned  yojana  sanctioned  mantri  pradhan  total  banks

History of this topic

48 crore sign up for ₹2 lakh accident insurance under PMSBY: Finance Ministry
3 weeks, 4 days ago

48 crore sign up for ₹2 lakh accident insurance under PMSBY: Finance Ministry

Hindustan Times  

The Finance Ministry said on Saturday that about 48 crore people had signed up for accident insurance coverage worth ₹2 lakh via the Pradhan Mantri Suraksha Bima Yojana. With over 54 crore beneficiaries, the Pradhan Mantri Jan Dhan Yojana has emerged as a keystone of financial inclusion, enabling unbanked people all around the country, the Ministry continued. In August of …

Gross bad assets of government banks fell from 14.58% in Mar 2018 to 3.12% in Sep 2024: Finance ministry
3 weeks, 6 days 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
4 weeks, 1 day 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 …

Public Sector Banks' NPAs on Mudra Loans Fall to 3.4% in 2023-24: FM Nirmala Sitharaman
5 months ago

Public Sector Banks' NPAs on Mudra Loans Fall to 3.4% in 2023-24: FM Nirmala Sitharaman

News 18  

Public sector banks’ non-performing assets associated with the Mudra loan category have declined to 3.4 per cent in the 2023-24 fiscal, Finance Minister Nirmala Sitharaman said on Monday. The finance minister informed the House that the NPA for public sector banks on Mudra loans has decreased to 3.4 per cent in the financial year 2023-24. She further said Mudra loan …

MUDRA loan limit hike, credit guarantee scheme for MSMEs
5 months, 2 weeks ago

MUDRA loan limit hike, credit guarantee scheme for MSMEs

New Indian Express  

NEW DELHI: In their efforts to revitalise the ailing MSME sector, the backbone of the Indian economy and creator of crores of jobs, the NDA government has come up with a slew of reforms. Finance Minister Nirmala Sitharaman on Tuesday informed that the government is increasing the limit for MUDRA loans for Micro, Small and Medium Enterprises from Rs 10 …

How New Mudra Loan Limit Of Rs 20 Lakh Will Support MSMEs, Who Can Avail The Scheme
5 months, 2 weeks ago

How New Mudra Loan Limit Of Rs 20 Lakh Will Support MSMEs, Who Can Avail The Scheme

News 18  

In the Budget 2024, Micro, Small, and Medium Enterprises will now be able avail loans of up to Rs 20 lakh instead of the current Rs 10 lakh under the Mudra scheme, finance minister Nirmala Sitharaman said on Tuesday. During the interim budget presentation earlier this year, the government extended 43 crore loans aggregating to Rs 22.5 lakh crore under …

Various Measures Taken To Reduce Debt Burden, Strengthen Economy: FM Nirmala Sitharaman
11 months ago

Various Measures Taken To Reduce Debt Burden, Strengthen Economy: FM Nirmala Sitharaman

News 18  

To bring down the debt burden, the government has taken various measures like increasing the tax revenue buoyancy, enhancing the public expenditure effectiveness, commitment to reducing fiscal deficit and augmenting the productive efficiency, Finance Minister Nirmala Sitharaman said on Monday. The government’s emphasis on increasing capital expenditure will not only boost the investments, but also return a higher GDP growth …

Deposits in TS banks rise by Rs 52,153 crore
1 year ago

Deposits in TS banks rise by Rs 52,153 crore

Deccan Chronicle  

Hyderabad: Total deposits in banks in Telangana state grew by Rs 52,153 crore during the first half of this fiscal, totalling Rs 735,159.54 crore. During April-September, banks disbursed short-term production loans amounting to Rs 35,023 crore achieving 79.48 per cent of the annual targets. Banks disbursed education loans to the tune of Rs 396 crore and housing loans amounting to …

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 …

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 …

PM Modi's Garib Kalyan: Why Rahul Gandhi is Wrong in Saying 'Poverty is a State of Mind' - News18
1 year, 4 months ago

PM Modi's Garib Kalyan: Why Rahul Gandhi is Wrong in Saying 'Poverty is a State of Mind' - News18

News 18  

Speaking at a function in Allahabad in 2013, Rahul Gandhi stirred the hornet’s nest by dismissing poverty as just “a state of mind.” Measuring his words carefully has never been a strong suit of the Gandhi scion. Coming back to the issue of poverty, back in 2013, hailing the role of self-help groups, the then Congress vice president, Rahul Gandhi …

Off-budget borrowings of Andhra Pradesh government put at ₹79,815 crore, says Centre
1 year, 5 months ago

Off-budget borrowings of Andhra Pradesh government put at ₹79,815 crore, says Centre

The Hindu  

The Central government has said that the off-budget borrowings by the Andhra Pradesh government will be considered as State government loans. Andhra Pradesh government’s off-budget borrowings stand at ₹79,815 crore and the excess over the borrowings by the State government will be adjusted in the subsequent financial years, it has said. Giving a reply to a question raised by TDP …

Centre's clarification on AP loans acts as weapon' for YSRC to disprove TD charge
1 year, 5 months ago

Centre's clarification on AP loans acts as weapon' for YSRC to disprove TD charge

Deccan Chronicle  

Vijayawada: The ruling YSRC has started counter-attacks on the Opposition parties, including Telugu Desam, by firmly refuting allegations of “indiscriminate” borrowings by the state government over the last four years of its rule. She stated in Parliament that the previous TD government had taken loans of Rs 2,64,451 crore between 2014 and 2019, while the outstanding loans went up to …

Modi govt disbursed 27 crore Mudra loans to women: Amit Shah
1 year, 7 months ago

Modi govt disbursed 27 crore Mudra loans to women: Amit Shah

Deccan Chronicle  

New Delhi: The Narendra Modi government has disbursed 27 crore Mudra loans to women entrepreneurs who have empowered the Indian economy with their "womanly force", Union Home Minister Amit Shah said on Tuesday. The Pradhan Mantri MUDRA Yojana is a scheme launched by Prime Minister Narendra Modi on April 8, 2015, to provide loans up to Rs 10 lakh to …

Over 40.82 cr loans sanctioned under MUDRA scheme in last 8 years
1 year, 8 months ago

Over 40.82 cr loans sanctioned under MUDRA scheme in last 8 years

Live Mint  

The government has said that over 40.82 crore loans amounting to ₹23.2 trillion have been sanctioned under Pradhan Mantri MUDRA Yojana since its inception eight years back. Pradhan Mantri MUDRA Yojana was launched on 8 April 2015 by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to ₹10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating …

Banks sanction ₹23.2 lakh crore to about 41 crore beneficiaries under Mudra Yojana
1 year, 9 months ago

Banks sanction ₹23.2 lakh crore to about 41 crore beneficiaries under Mudra Yojana

The Hindu  

Banks and financial institutions have sanctioned ₹23.2 lakh crore to more than 40.82 crore beneficiaries under the Mudra Yojana launched to fund the unfunded eight years ago. Pradhan Mantri MUDRA Yojana was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to ₹10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating …

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 …

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 | Changes in allocation for key schemes including MGNREGS, PM-Kisan, Ayushman Bharat
1 year, 11 months ago

Budget 2023 | Changes in allocation for key schemes including MGNREGS, PM-Kisan, Ayushman Bharat

The Hindu  

Finance Minister Nirmala Sitharaman on Wednesday, February 1, presented the last full budget of the Narendra Modi government before the 2024 general elections. Here’s a roundup of how the budgetary allocations for some of the key schemes have changed- MGNREGS: The government slashed the budget for its flagship rural employment scheme, the Mahatma Gandhi National Rural Employment Guarantee Scheme by …

Budget 2023: ₹79,000 crore set aside for PMAY, 65% higher than last year
1 year, 11 months ago

Budget 2023: ₹79,000 crore set aside for PMAY, 65% higher than last year

Hindustan Times  

Presenting the final full budget of the Modi government ahead of next year's parliamentary elections, Union finance minister Nirmala Sitharaman on Wednesday announced an outlay of ₹79,000 crore towards the Pradhan Mantri Awas Yojana. New Delhi: Union Finance Minister Nirmala carrying a folder-case poses for photographs outside the Finance Ministry at North Block, in New Delhi, Wednesday, Feb. 1, 2023, …

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," …

PM trusted the poor: BJP leader Amit Malviya slams former RBI chief Raghuram Rajan over Mudra Yojana
2 years, 1 month ago

PM trusted the poor: BJP leader Amit Malviya slams former RBI chief Raghuram Rajan over Mudra Yojana

Firstpost  

Calling out former Reserve Bank of India governor Raghuram Rajan in a tweet, BJP leader Amit Malviya claimed that NPAs of the Pradhan Mantri Mudra Yojana - also known as Mudra loan scheme - are lower than the banking sector average 7 years after it was launched by Prime Minister Narendra Modi Amit Malviya on Mudra Loan: BJP leader Amit …

‘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 …

PM Mudra Yojana: Rs 18.60 lakh crore sanctioned in loans in 7 years
2 years, 9 months ago

PM Mudra Yojana: Rs 18.60 lakh crore sanctioned in loans in 7 years

Firstpost  

The scheme was launched on April 8, 2015, by Prime Minister Narendra Modi for providing loans up to Rs 10 lakh to the non-corporate, non-farm small/micro-enterprises New Delhi: Union Finance Minister Nirmala Sitharaman on Friday said that more than 34.42 crore loan accounts amounting to Rs 18.60 lakh crore have been opened under Pradhan Mantri Mudra Yojana in the past …

Corruption, pending payments mar implementation of rural schemes: Parliamentary panel
2 years, 9 months ago

Corruption, pending payments mar implementation of rural schemes: Parliamentary panel

The Hindu  

Fake job cards, widespread corruption, late uploading of muster rolls, and huge pending payments for wages and materials are among the issues hampering the MGNREGA scheme, apart from insufficient funding, according to a Parliamentary Standing Committee report submitted to the Lok Sabha today. “Genuine labourers not getting their dues while money keeps changing hands due to collusion of unscrupulous elements …

Telangana borrowed Rs 2.4 lakh crore in 8 years
2 years, 9 months ago

Telangana borrowed Rs 2.4 lakh crore in 8 years

Deccan Chronicle  

Hyderabad: The total loans taken by the state government from June 2014 up to February are at Rs 2,41,395 crore. NCDC loans were utilised for sheep and goat development cooperative federation for distribution of sheep and goat while Hudco loans were utilised for construction of 2BHK houses for the poor through TS Housing Corporation Ltd. Power bods/ Uday scheme loans …

Telangana government raised ₹2.41 lakh crore loans since its formation
2 years, 9 months ago

Telangana government raised ₹2.41 lakh crore loans since its formation

The Hindu  

The State has borrowed ₹2.41 lakh crore in the form of loans from various agencies since its formation in 2014-15. Loans from the open market constituted the major chunk of borrowings at ₹2.18 lakh crore while money raised from power bonds/UDAY scheme was pegged at ₹8,923 crore. The Central government allowed additional borrowings of ₹1,435 crore in 2019-20 for relief …

Top 5 government business loan schemes in India in 2022
3 years ago

Top 5 government business loan schemes in India in 2022

India Today  

The Government of India initiates various schemes and policies to bring a change in the economic condition of the country. Here is the list of the top 5 government business loan schemes in 2022: Top 5 government business loan schemes in 2022: MSME Loan Scheme The loan was introduced by the Government of India focusing on the working capital loan …

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

Rs 6,439 crore released for Aasara
3 years, 3 months ago

Rs 6,439 crore released for Aasara

Deccan Chronicle  

NELLORE: Chief Minister Y.S. Jagan Mohan Reddy on Thursday released the second tranche of YSR Aasara by crediting nearly Rs 6,440 crore into the accounts of 78.76 lakh women belonging to 7.97 lakh Self Help Groups across the state. However, as promised during the 2019 elections, the current government has credited Rs 12,759 crore in two phases and restarted zero-interest …

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 …

PM Modi Asks Banks to Come Out with Innovative Products for Startups, Fintech
3 years, 10 months ago

PM Modi Asks Banks to Come Out with Innovative Products for Startups, Fintech

News 18  

Prime Minister Narendra Modi on Friday stressed on increasing credit to businesses to meet the needs of a fast reflating economy and said financial products will have to be tailor-made for fintech and startups. Speaking at a webinar on Budget announcements on Financial Services, Modi said to help medium and small businesses during the COVID pandemic, 90 lakh Micro, Small …

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 …

Documents required to apply for Mudra Loan: Check details here
3 years, 11 months ago

Documents required to apply for Mudra Loan: Check details here

India Today  

A financial and support provider, MUDRA loan under Pradhan Mantri Mudra Yojana can be availed from your nearest bank, NBFC, MFIs, etc. Pradhan Mantri Mudra Yojana focuses on the development and growth of the non-corporate, micro, and small enterprises whose credit needs are below 10 Lakh. These products cover loan amounts as below: Shishu: covering loans up to 50,000 Kishore: …

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline
4 years, 2 months 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 …

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 …

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 …

SBI’s Mudra NPAs at 15%, loan book stabilized, says Rajnish Kumar
4 years, 6 months ago

SBI’s Mudra NPAs at 15%, loan book stabilized, says Rajnish Kumar

Live Mint  

While close to 15% of State Bank of India’s loans under the Pradhan Mantri Mudra Yojana have turned bad, the bank has been able stabilise the portfolio by introducing end-to-end digitisation, said Rajnish Kumar, chairman, SBI “We have tweaked the model and changed it to e-mudra. The bad loans used to be high in the up to ₹50,000 bracket 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 …

10 Key Takeaways | FM Nirmala Sitharaman Unveils First Part Of Rs 20 Lakh Cr Economic Stimulus
4 years, 7 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, 7 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, 10 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 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 …

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 …

No stressed MSME loan can be declared NPA till March 2020; govt asks banks to hold loan melas in 400 districts from 3 Oct
5 years, 3 months ago

No stressed MSME loan can be declared NPA till March 2020; govt asks banks to hold loan melas in 400 districts from 3 Oct

Firstpost  

Bank loan disbursements to the MSME sector stood at Rs 11.83 lakh crore in 2018-19, as against Rs 8.53 lakh crore done in 2017-18 New Delhi: In a bid to boost lending, the government on Thursday asked public sector banks to hold ’loan melas’ in 400 districts to lend to desirable shadow banks and retail borrowers, and said no stressed …

NPAs may come down to Rs 9.1 lakh cr by FY'20 : Report
5 years, 4 months ago

NPAs may come down to Rs 9.1 lakh cr by FY'20 : Report

India TV News  

The gross bad loans of banks are expected to come down marginally to Rs 9.1 lakh crore by the end of the current financial year, according to a report. Indian banks' gross non-performing assets stood at Rs 9.4 lakh crore as on March 31, 2019, said a joint study by Assocham-Crisil. "There is a significant potential opportunity for stressed-assets investors, …

Bank NPAs: Despite continuing write-offs, decline in NPAs after a long gap is good news for industry
5 years, 5 months ago

Bank NPAs: Despite continuing write-offs, decline in NPAs after a long gap is good news for industry

Firstpost  

For the first time in at least five years, the Indian banking sector is witnessing a decline in the gross non-performing account levels. To quote exact figures, the gross NPAs of all public sector banks or PSBs declined by Rs 89,189 crore from a peak of Rs 8.95 lakh crore in March 2018 to over Rs 8.06 lakh crore in …

As many as 2,313 instances of frauds reported in Mudra loan accounts; investigation underway to ascertain lapses
5 years, 6 months ago

As many as 2,313 instances of frauds reported in Mudra loan accounts; investigation underway to ascertain lapses

Firstpost  

Under the PMMY, Mudra has created three products—‘Shishu’, ‘Kishore’ and ‘Tarun’—to signify the stage of growth and funding needs of the beneficiary. New Delhi: As many as 2,313 Pradhan Mantri Mudra Yojana accounts with the public sector banks reported instances of fraud since the financial year 2016-17, Parliament was informed on Monday. “As per information compiled from public sector banks, …

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