The 54-page document tabled in Parliament detailed how the Modi-government pull the economy from being counted among the most fragile-five in the world to being the fasted growing and the most attractive investment destination.
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
'...It is important for you to take a stand.' 'It is a sin to remain silent when the basic structure of the Constitution is being attacked.'
'We are going to have a recession this year, maybe next year too...'
The central bank has ordered lenders to clean up balance sheets by March 2017
'We have a plan to plough back a 'This year in the first half we had profits of more than Rs 31,000 crore.' significant amount of profits this financial year.' 'We have seen this organic plough back of profit is one of best ways to support the equity of the bank.'
'At this time, staying in the game is more important.' 'If we do that, then wealth can be generated.'
According to the RBI's Financial Stability Report, the industry's gross bad-loan is at a 14-year high. As RBI's March 2017 deadline for banks to clean up soured credit looms closer, Shailajanand Mishra takes stock of just how bad the situation is.
A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank (LVB) with subsidiary of Singapore-based DBS, public sector banks' officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to be a ploy to provide entry of foreign banks into the country in a big way, All India Bank Officers' Confederation (AIBOC) president Sunil Kumar said. The Indian banking sector provides huge opportunity for growth, so the foreign banks have been looking at inorganic route to expand their presence for long, he said.
Rulers in New Delhi and their political aides in sensitive states like Tamil Nadu have to be doubly careful not to provoke a situation whose consequences may be much more than visible now to the naked eye, notes N Sathiya Moorthy.
RBI said the improvement in asset quality was driven by state-run lenders which saw a drop both in both GNPA and in the net NPA ratios.
Given the 2024 general elections, it is unlikely that the allegations around electoral bonds, raised by the Opposition, will disappear easily or with a shrug of the BJP's shoulders and fabled 56-inch chest, argues Shyam G Menon.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
The country's largest bank SBI on Thursday reported an 83 per cent jump in net profit at Rs 16,694.51 crore for the fourth quarter of 2022-23 fiscal on higher interest income and low provisioning. In the January-March quarter of 2021-22 financial year, State Bank of India's net profit on standalone basis was Rs 9,113.53 crore. During the March quarter of 2022-23 fiscal, the bank's interest income rose 31 per cent to Rs 92,951 crore, SBI said in a regulatory filing.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India (SBI), had approached a special Prevention of Money Laundering Act (PMLA) court seeking restoration of his properties seized by the Enforcement Directorate. The special PMLA court in Mumbai on Tuesday allowed the restoration of properties worth Rs 5,646.54 crore to banks.
The Indian banks' total net level of non-performing loans could be double their reported level, even though asset quality has improved over the years, according to a report by Fitch Ratings India Ltd.
'He only promotes those leaders who will never show any resistance to him in future.'
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Business failures rise when growth declines. When Indian growth slowed in the last decade, defaults increased. This is the normal working of the market economy, points out Ajay Shah.
The SBI auction will be the biggest nationwide online sale.
Enjoying the backing of the regulator, Gill has identified the core problems, ring-fenced the banks from "influencers" and is in the process of building a new team. Now, he needs to play a Vikram Pandit for YES Bank, says Tamal Bandyopadhyay.
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
Net profit was Rs 1,115 crore
Yes Bank CEO said the private lender is disposing some of the properties in many other cases as well. He, however, declined to elaborate on borrowers against whom such action was underway.
While Modi must worry about the electoral backlash of bailing out state-owned banks, China's communist rulers face fewer constraints.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
As of December 2014, NPAs of PSU banks were at Rs 2,60,531 crore.
'While there has been an impact on economic activity, it is not as profound as the lockdown last year.'
The next round of bad news could come from Europe, where banks in a number of economies such as Italy, Portugal and Greece are sitting on mountains of bad loans.
State-owned banks account for more than two-thirds of the sector's assets and about 85 percent of bad debts
Do not shop around for loans immediately after getting a secured credit card. Such loan enquiries can also pull down credit score, as they are treated as a sign of credit-hungry behaviour.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
One can't run away from death so this is the time that YOU must create your own death file. P V Subramanyam explains what you must know about this most essential financial tool.
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
Exim Bank pointed out that recent performance of the manufacturing sector in India is indicative of an underlying inertia.
'From where I started, I was pretty proud of myself to be able to give myself another chance to be here, to qualify and play a second round. It's a good feeling.'
The gross NPAs of public sector banks rose to Rs 2.03 lakh crore (Rs 2.03 trillion) at the end of September from Rs 1.55 lakh crore (Rs 1.55 trillion) on 31 March, 2013.
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