If a holiday, banks will have to report the details on the next working day.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
Bad loans are turning nightmarish for Indian banks.
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.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Rs 2.06 trillion, is the gross non-performing assets of Indian banks.
'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.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
'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.'
'I find the RBI edict to the Kotak Mahindra Bank to reduce Uday Kotak's shareholding very unreasonable,' says Sudhir Bisht.
A young girl from Manipur hopes the happy days of togetherness will return to her beloved state again.
'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.
Ajit Balakrishnan on understanding the anti-cash chorus.
Nothing has ever been done to make bank officers accountable, except for the rare actions when there is a public controversy, argues Debashis Basu.
The Serious Fraud Investigation Office is under the administrative control of the Corporate Affairs Ministry, and is being readied to become an investigation body at par with the Central Bureau of Investigation and the Enforcement Directorate.
The Reserve Bank of India (RBI) raised the minimum capital requirement for so-called shadow banks and tightened rules on deposits and bad loans to avoid any potential risk to the economy from these rapidly growing finance firms by regulating them like traditional banks.
This brand of funny by the virtue of I-know-I-cracked-a-bad-joke doesn't quite tickle, says Sukanya Verma.
'Free this and free that, and the voters were with them.'
With strong long-term fundamentals, banking sector cannot be completely ignored
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
The two IT majors -- Infosys and TCS -- delivered disappointing results for the fourth quarter of the 2022-23 financial year (Q4FY23). Poor macro conditions and weak sentiment in the banking, financial services and insurance (BFSI) space accounted for the miss. For TCS, revenue in constant currency (CC) terms grew at 0.6 per cent on a quarter-on-quarter (QoQ) basis. Weakness was visible in North America, primarily due to deferred discretionary spending.
Two of the highest-profile recent cases of alleged wilful default involve Winsome Diamonds and Jewellery and Deccan Chronicle Holdings
The NPA of the public sector banks rose to 6.03% as of June 2015.
Arcil acquires non-performing loans from banks and financial institutions along with the underlying securities mortgaged or hypothecated by borrowers to the lenders.
The prime minister made the charge at a rally in Ajmer just ahead of the announcement of assembly election dates for Rajasthan and four other states in November and December.
'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
Capital infusion seen necessary for banks to maintain regulatory norms at the time of paying interest towards AT-1 bonds
The remarks came amid reports of mounting tension between the finance ministry and the RBI over the autonomy of monetary policy makers.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
Only NIIF has stayed the course as a viable infrastructure financing institution.
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.
India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
With credit growth remaining high despite deterioration in the economic environment, the Reserve Bank of India (RBI) on Wednesday asked banks to initiate measures to keep the fresh accretion of bad debt to the minimum and also improve the recovery process.
The 55 basis point (bps) spike in the US 10-year bond yield, triggered by a combination of FOMC's hawkish commentary and BOJ's relaxation of the yield control curve (YCC) has made analysts cautious on Asian equities and expect them to trade sideways in the short-to-medium term.
Banks recovered Rs 18,933 crore (Rs 189.33 billion) worth of bad loans during the April-December period.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
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