News Muncher - searching for banks

3 months, 2 weeks ago

Why this class of companies is waiting for more corporate failures

Mumbai: On a humid evening in May, a group of executives from various asset reconstruction companies gathered at the ballroom of hotel President in Cuffe Parade, Mumbai. The third and more recent challenge is the advent of India’s so-called bad bank, the state-owned National Asset Reconstruction Company Ltd. As a rule, the industry thrives when the level of corporate non-performing …

India Industry Bank Companies Loans Crisil Rbi

4 months, 2 weeks 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 …

Loans Public Sector Banks Sector Cent Banks Sitharaman Npa

11 months ago

‘Banks need to finetune systems to curb fraud’

The Hindu

Though the Indian banking sector has undergone phase-wise reforms over the past few decades, the banks have to finetune their systems to curb the incidence of frauds in the sector, W.K. He was delivering the inaugural address at the two-day national conference on ‘Financial Sector Reforms in India’ organised by Gulbarga University here on Friday. Prof. Sarwade claimed that the …

India Financial Indian Banks Sarwade Sector Reforms

1 year ago

NaBFID MD bats for re-introduction of S4A-like debt recast scheme

Hindustan Times

Rai said at present, there is not a single asset calling out for such help but it is essential to get a facility which will enable "rightsizing of debt" and make it more sustainable. NPAs were also arising out of court orders, delays in environmental clearances for projects, cancellation of mines etc, he said, adding that the banking system used …

Bank Debt Project Scheme Rai Npa S4A

1 year ago

Wilful default: RBI to tweak rules to give lenders flexibility in handling cases

Live Mint

New Delhi: Lenders may get more flexibility in dealing with potential wilful defaulters as the central bank may make in-person hearings with borrowers mandatory at the time of identifying a loan account as stressed, two persons aware of the development said. A Supreme Court order in March regarding RBI’s 2016 circular on wilful defaults had said that borrowers should get …

Bank Banks Account Tag Defaulters Npa Wilful Defaulter

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 …

Crore Banks Lakh Written Npa Karad Scheduled Commercial Banks

1 year, 4 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 …

India Crore Banks Npas Bank Profits Banking Npa

1 year, 8 months ago

2 ED staffers held for helping Amar Mulchandani’s associate

Hindustan Times

Mumbai: The Enforcement Directorate on Friday arrested two of its staff members for helping an associate of Amar Mulchandani, former chairman of Seva Vikas Co-operative Bank, who was arrested in a multi-crore fraud earlier in January. The agency claimed that in two of the loans taken by Aranha from the SVC Bank, they had mortgaged the property, which was already …

Bank Loans Loan Agency Sonkar Mulchandani Svc

1 year, 9 months ago

Hemant Soren’s Diatribe Against Banks an Extension of Anarchist Opposition Mindset to Derail India’s Growth Engine

News 18

In the past few years, Jharkhand Chief Minister Hemant Soren has made several notorious attempts to create unrest in Jharkhand — the most glaring example of this was his mischievous assertion of Adivasis not being Hindus on a Harvard platform. Such juvenile remarks coming from someone holding a constitutional post amounts to a direct assault on India’s banking system, a …

India Bank Jharkhand Poor Jmm Banks Hemant Soren

1 year, 10 months ago

Banks May See Rise In Bad Loans From Retail, Small Businesses, Says SBI Official Ashwini Kumar Tiwari

ABP News

Banks in India could see a rise in bad loans or non-performing assets in the retail and small business segments from its recent low levels, an official with State Bank of India told news agency Reuters on Thursday. At an event in Mumbai, Ashwini Kumar Tiwari, managing director at State Bank of India said, "We cannot have a system where …

India Bank Loans Cent Tiwari Msme Sbi

1 year, 11 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, …

Finance Loans Banks Bad Asset Npa Bad Loans

2 years 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 …

Loan Bjp Rbi Yojana Amit Npa Npas

2 years, 1 month ago

Private banks post solid earnings in Q2 driven by margin expansion and a fall in bad loans

Live Mint

Private sector banks delivered a strong performance in the September quarter as credit growth in the system remained strong. Robust Performance India's largest private sector lender, HDFC Bank, reported a 20.01% jump in its standalone net profit at Rs 10,605.78 crore for the September ending quarter compared to Rs 8,834.31 crore in the year-ago period on the back of low …

Credit Bank Profit Crore Post Quarter Rbi

2 years, 4 months ago

Declaring NPA And Wilful Defaulter: A Banker's Obligation

Live Law

Banks are evaluated on their standard of assets as well as their number of branches and deposit volume. Vs. Union of India & Anr., the High Court of Delhi relying on the findings of the Supreme Court in the matter of Mardia Chemicals Ltd. v Union of India 4 SCC 311, held that declaring an asset as NPA is not …

Court Natural Justice Committee Rbi Banks Borrowers Lenders

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 …

Credit Rbi Banks Npa Npas Recover Karad

2 years, 6 months ago

Of what good is a bad bank?

The Hindu

The story so far: Finance Minister Nirmala Sitharaman on Monday announced that the National Asset Reconstruction Company along with the India Debt Resolution Company will take over the first set of bad loans from banks and try to resolve them. A bad bank is a financial entity set up to buy non-performing assets, or bad loans, from banks. The aim …

Assets Loans Loan Capital Public Sector Banks Help Sector

2 years, 6 months ago

Bad bank to kick off NPA takeover in July

The Hindu

The National Asset Reconstruction Company Ltd., set up to take over large bad loans of more than ₹500 crore from banks, will pick up the first set of such non-performing assets in July, the Finance Ministry said on Monday. The NARCL, which will acquire the bad loans from banks, and the India Debt Resolution Company Ltd. - which will then …

Set Narcl Npa Takeover

2 years, 8 months ago

Stocks Recommendations for Q4 Earnings Season: 5 Stocks you should Keep an Eye On

News 18

Stocks Recommendations for Q4 Earnings Season: If one has followed the gyrations of the equity markets in FY22, there is a lot of hope riding on the fourth-quarter earnings of Indian companies even as inflation, a war, and the unfriendly central banks have dented sentiment. Here are Five Stock Recommendations From Angle One Ltd. for the Upcoming Earnings Season: Sobha …

India Growth Market Players Earnings Companies Market Share

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 …

India Npa Bad Loans

2 years, 10 months ago

FM defends time taken to file fraud complaint in ABG Shipyard

Deccan Chronicle

New Delhi: Finance Minister Nirmala Sitharaman on Monday defended five years taken to file the first fraud complaint in the Rs 22,842 loan default by Gujarat-based ABG Shipyard, saying the time taken to detect the fraud was less than normal. Asserting that a bank follows a certain process to declare an account fraud, Sitharaman said banks almost take 52-54 months …

India Board Fraud Budget Congress Bank Minister

2 years, 10 months ago

ABG Shipyard fraud detected faster than average time in such cases, says Nirmala Sitharaman

Firstpost

Asserting that a bank follows a certain process to declare an account fraud, Sitharaman said banks almost take 52-54 months to complete intensive work before a decision is taken New Delhi: Finance Minister Nirmala Sitharaman on Monday defended five years taken to file the first fraud complaint in the Rs 22,842 loan default by Gujarat-based ABG Shipyard, saying the time …

Finance India Board Fraud Budget Congress Bank

2 years, 10 months ago

‘ABG Shipyard fraud detected faster than average time in such cases’ - FM

The Hindu

Finance Minister Nirmala Sitharaman said that the Opposition has put its foot on the proverbial axe by raising a hue and cry about the biggest banking fraud of ₹22,842 crore perpetrated on banks by ABG Shipyard, stressing that the account had turned into a non-performing asset in November 2013 while the UPA was in power. While it normally takes 52 …

Fraud Bank Cbi Banks Sitharaman Detect Npa

2 years, 10 months ago

Banks act against Future Retail for missing payments

The Hindu

Lenders to Future Retail have started classifying loans to the firm as a ‘non-performing asset’ after the retailer missed payments to the banks, they told the Supreme Court in a filing. Citing its dispute with Amazon, FRL last month challenged its lenders in the top court to avoid facing insolvency proceedings or being classified as a defaulter, after it missed …

Retail Frl Certain Payments

2 years, 10 months ago

Future Retail Lenders Move Supreme Court, Call For Its Assets To Be Put Up For Auction

ABP News

New Delhi: Future Retail lenders have moved Supreme Court and said that the assets of retail firm should be put up for auction after it missed payments. According to Reuters, lenders have already classified or begun classifying the loan account of Future Retail as an NPA since the payment was not made within the stipulated time, the lenders mentioned in …

India Retail Supreme Court Future Lenders Npa Future Retail

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Articles for NPA, search results for banks

Why this class of companies is waiting for more corporate failures

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

‘Banks need to finetune systems to curb fraud’

NaBFID MD bats for re-introduction of S4A-like debt recast scheme

Wilful default: RBI to tweak rules to give lenders flexibility in handling cases

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

Cleaning up of NPA mess will propel the economy

2 ED staffers held for helping Amar Mulchandani’s associate

Hemant Soren’s Diatribe Against Banks an Extension of Anarchist Opposition Mindset to Derail India’s Growth Engine

Banks May See Rise In Bad Loans From Retail, Small Businesses, Says SBI Official Ashwini Kumar Tiwari

Has India tided over the problem of bad loans?

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

Private banks post solid earnings in Q2 driven by margin expansion and a fall in bad loans

Declaring NPA And Wilful Defaulter: A Banker's Obligation

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

Of what good is a bad bank?

Bad bank to kick off NPA takeover in July

Stocks Recommendations for Q4 Earnings Season: 5 Stocks you should Keep an Eye On

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

FM defends time taken to file fraud complaint in ABG Shipyard

ABG Shipyard fraud detected faster than average time in such cases, says Nirmala Sitharaman

‘ABG Shipyard fraud detected faster than average time in such cases’ - FM

Banks act against Future Retail for missing payments

Future Retail Lenders Move Supreme Court, Call For Its Assets To Be Put Up For Auction