However, despite the reduction, their interest rates would be about 50-100 basis points higher than those of banks
'If you ask India's finest business leaders, they now tell you -- in whispers, of course -- that the mood has never been so glum after 1991,' says Shekhar Gupta.
The loss to policyholders due to massive mis-selling of insurance policies by trusted private sector and public sector banks will be well in excess of Rs 2 trillion, warns Harsh Roongta.
This comes at a time when competition has increased significantly.
Nothing has ever been done to make bank officers accountable, except for the rare actions when there is a public controversy, argues Debashis Basu.
It has Rs 20,500 crore of standard stressed pool outstanding as of June 2018. Thus, the entire stressed book (net NPAs and standard stressed pool) is nearly two times its net worth.
Axis Bank dismisses 24 staffers, suspends 50 accounts after I-T raids
High delivery costs, caused primarily by a fragmented supply chain, bad logistics, together with poor standards are hurting India's horticulture exports much more than trade barriers, according to a World Bank report.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
'Hamas is going to be prepared. There will be booby traps and tunnels; it's going to be door to door fighting.'
Without naming either the alleged kingpin of the fraud, billionaire jeweller Nirav Modi, or Punjab National Bank, Jaitley questioned the ethics of some businesses in the country and asked as to why the bank's internal and external auditors could not detect the fraud which had been going on for 7 long years.
Housing loan customers may have to repay part of their borrowings or suffer very high EMIs, as there is a scurry among banks to avoid bad debts following successive interest rate hikes in the last six months.
With their weak metrics and high bad loans, India's state-run banks have not been investor favourites
The PM blamed the UPA regime for the problems in the banking sector.
New Development Bank plans to issue $300-500 mn worth masala bonds in rupee: K V Kamath.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
The sudden harsh ouster of Thomas Patrick as Merrill Lynch's executive vice chairman, may spell bad news for India-born Arshad Zakaria, who is head of institutional banking at Merrill, said the New York Times in a report.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
Ask your bank to save for you. Plan your taxes. Reward yourself for your addictions... Chartered accountant Shreya Jaiswal's 10 ways to make more money this year.
Its total income during the September quarter also slipped to Rs 30,191 crore, as against Rs 32,435 crore in the year-ago period
Banks are in need of government support to manage the stressed assets
The Yeti Airlines aircraft took off from Kathmandu's Tribhuvan International Airport at 10.33 am on Sunday and crashed on the bank of the Seti River between the old airport and the new airport in Pokhara, minutes before landing, according to the Civil Aviation Authority of Nepal.
'What is critical today in India is confidence of depositors.' 'If you have these kinds of problems spreading like this, the confidence level of a lot of people in the system gets shaken.'
12 out of 21 public sector banks reported declines in their loan books in the last financial year against seven such banks in 2015-16 and none in 2013-14.
'Modi wants to reverse everything Nehru did, but is shy of touching his daughter's most unwise policies.' 'There is no example of this more stark than bank nationalisation,' says Shekhar Gupta.
When traders got caught fiddling Libor, their employers blamed a few bad apples.
Bank credit offtake is expected to pick up following normalisation of economic activities aided by the government thrust on public expenditure in current fiscal year, a report said. According to the Care Edge report, the gross non-performing assets (GNPA) ratio hit a six-year low of 5.9 per cent in FY22 but remained above the pre-asset quality review of 2015-16. However, it said, India's NPA ratio is one of the highest among the comparable countries despite gradual decline.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
If a holiday, banks will have to report the details on the next working day.
'I find the RBI edict to the Kotak Mahindra Bank to reduce Uday Kotak's shareholding very unreasonable,' says Sudhir Bisht.
Bad loans are turning nightmarish for Indian banks.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
Rs 2.06 trillion, is the gross non-performing assets of Indian banks.
As floods hit the low-lying areas in the national capital, slum dwellers whose houses got submerged claimed that they were not alerted beforehand and many others alleged that help was not forthcoming from the administration.
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
Ajit Balakrishnan on understanding the anti-cash chorus.
All public sector banks have moved to such a regime voluntarily, while private banks are yet to. The state-run banks have introduced repo-linked products for floating-rate home and auto loans, but the RBI said loans to micro, small and medium enterprises (MSMEs) should also be linked to an external benchmark.
'The day-to-day control of banks is in the hands of political bosses and bureaucrats who are not answerable.' 'The political system uses the banks as a helicopter to throw money to the sector they want to patronise in order to win the next election.'
The bank saw loans worth Rs 7,000 crore (Rs 70 billion) slipping into NPAs during the March quarter, taking the gross NPA ratio to 5.82 per cent.
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