Commerce and Industry Minister Nirmala Sitharaman told the Rajya Sabha 'the government is absolutely sensitive and seized of the matter'.
Over 75 per cent of the bank's Rs 175 crore NPA arises from Uttar Pradesh, Madhya Pradesh and Maharashtra.
In the broader market, the S&P BSE Midcap ended 0.1% down, while the S&P BSE Smallcap index gained 0.3%.
China had been trying hard to enter the Indian market, without opening its own to Indian products. There is an economic crisis in India-China relations that the Chennai Connect barely scratched the surface, points out Srikanth Kondapalli.
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
Banks have been struggling hard to recover dues from grounded Kingfisher Air.
Shareholder advisory companies are raising eyebrows at the ICICI Bank board not being aware of Firstland's investment in NuPower
At India Economic Convention organised by India Foundation, Parekh said the country needs $1 trillion in the 12th Plan of which 47 per cent was to come from private sector, but it has not happened in the first two years of the Plan period.
United Bank of India has denied having defaulted to the tune of Rs 800 crore. It also dismissed any merger talk.
'We do not know when we will get to the business-as-usual mode.' 'Many borrowers may not be able to pay up.' 'The incidence of cheque bouncing has doubled or even trebled, some lenders say,' says Tamal Bandyopadhyay.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
Ratnagiri Gas & Power Pvt Ltd, in charge of Dabhol assets since 2005, has admitted it is passing through a difficult phase in the absence of gas allocation and low recovery of dues from the Maharashtra State Electricity Distribution Company.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
'The good news is that till the time there is growth in gross domestic product, Indian markets will continue to rise.'
Sharma to step down as Axis Bank chief on December 31.
There are NPAs on account of the industrial downturn in sectors like steel, infrastructure and power.
RBI will make a presentation on January 24 before the panel on the state of NPAs and stressed loans.
Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years
Axis Bank's loan portfolio quality deteriorated, with gross NPAs rising to 5.22% of gross advances.
Some accounts can be revived by rescheduling loans, which the RBI envisages to do once the norms get finalised after the public discussion.
Individual banks should break away from the industry pact and have their own settlements with the unions, recommends Tamal Bandyopadhyay.
The rally followed the govt's plan to bolster state-owned lenders.
Rating agency Care Ratings said the gross non-performing assets ratio of domestic banks will increase to 4.5 per cent by March 2014 and impact the profitability by up to 30 per cent.
'His (Das) approach to work seems that of working as a team with ease in communication.'
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
While an uptick in economic activity will help banks come out of some of their problems, some issues currently facing the Indian banking industry are of its own doing says Pramit Jhaveri.
The government had announced a waiver of over Rs 60,000 crore (Rs 600 billion) in advances to farm sector as a one time measure in the budget of 2008 following stress in the rural sector.
Banking stocks dipped with Nifty PSU Bank index falling 1.7% after the government notified the ordinance that seeks to tackle non-performing loans in the sector.
Aavas is turning heads in the country's mortgage financing space because it selected to do business in a different way, says Mudar Patherya.
In its morning update, the Union health ministry said the total number of positive cases has reached 2,16,919 with a record spike of 9,304 new cases since Wednesday 8 am across the country, while the death toll has increased to 6,075 with 260 more fatalities in this period. A PTI tally of figures announced by different states and union territories, as of 9.50 pm, showed a higher number of confirmed cases across the country at 2,17,389 and the death toll at 6,233.
SBI's number of foreign offices increased from 186 in March 2013 to 190 in March 2014, in 36 countries.
Vikram Kothari finds himself stands accused of a bank loan default to the tune of thousands of crores.
It is the first time in last the 10 years that no new CBI chief has been named to succeed an incumbent.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
In his address at a conference of state secretaries, Rajan stressed the need to strengthen state-level coordination committees by ensuring participation, conducting meetings more frequently and sharing quality information among all stakeholders, including state government agencies.
'Raghuram Rajan's contribution to the country's economy is "exemplary" and he would always be remembered for his outstanding work.'
MF investors may not be able to support markets fall if selling intensifies
India has an urban housing shortage of about 18.7 million units, with 95 per cent of this shortfall in the low-cost housing segment, and 43.7 million in the rural belt.
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