Public sector banks (PSBs) have written off a massive Rs 8 trillion of loans in the seven years of the Narendra Modi government in office. This is more than twice the capital infused by the Bharatiya Janata Party-led government during the period. Between 2014-15 and 2020-21 (FY21), the Centre had infused Rs 3.37 trillion into PSBs. At Rs 1.06 trillion, FY19 saw the highest capital infusion.
The conciliation talks between UFBU and Indian Banks Association held in Mumbai moved a step ahead positively after the IBA offered a 9.5 per cent hike on pay slip cost and hold another round of talks on January 27, UFBU national Convenor M V Murali told PTI in Tirupati over phone.
Banks are pushing into credit cards and personal loans, using blanket advertising, cold call campaigns and even sending employees to malls to lure customers.
RBI deputy governor N S Vishwanathan has said the new framework was in line with the Insolvency and Bankruptcy Code guidelines.
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.
Resolution to the bad loans problem has to be incremental, and the RBI has to ensure NPAs are not swept under the carpet, HDFC chairman Deepak Parekh tells Joydeep Ghosh.
India's state banks are under pressure to improve profitability.
'The entire system acted as cheerleaders to Vijay Mallya. The RBI failed, the banks failed, the auditors of the banks and Mallya failed.'
India has a unique window of opportunity to effectuate long-lasting structural change in its banking sector, says Riju Agrawal.
The heartburn is over six sensitive issues
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
The critical task facing Indian banking is to quickly improve the risk-assessment capability of the state-owned banks, which account for three-quarters of all banking; and if that fails, then to privatise them.
'How long can you lead a life like this?'
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
The broader Nifty ended on top of 9,800 again.
The Reserve Bank of India (RBI) is planning to introduce plastic currency notes as an experiment in five cities.
Credit cards debt 180 days past the due repayment date stood at 7.92 billion yuan ($1.19 billion) by the end of the third quarter, up 8.5 per cent from the second quarter, the People's Bank of China said.
The net non-performing assets (NPAs) or bad loans of 40 listed banks jumped by 38 per cent or around Rs 35,424 crore (Rs 354.24 billion) in the first six months of current financial year.
None of the four benchmarks suggested by the RBI is ideal as banks in India create loan assets from their deposits and not borrowing from the regulator or market, says Tamal Bandyopadhyay.
Banks have been patient and flexible in rescheduling loans.
Despite sanctioning the loans, bankers are worried whether to disburse the loan because of absence of an investment grade rating.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
This shortfall could continue to hurt loan growth in 2016-17.
If customers did not see value in what we provide them at the price point at which we provide these, they would not have been there with us in such a competitive market, says HDFC deputy managing director Paresh Sukthankar.
SC expressed surprise that no steps were taken for recovery.
Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
The Constitution bench is hearing a batch of 58 petitions challenging the demonetisation exercise.
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Banks had a tough time in recovering loans from corporates in 2014.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
As for structural reform, there are signs if one looks hard enough.
Religion matters. Aspirational India is still poor. India admires strong leaders. India values decency. Shreekant Sambrani highlights the reasons why the BJP pulled off improbable victories in the Hindi heartland.
'Hamas is going to be prepared. There will be booby traps and tunnels; it's going to be door to door fighting.'
If GDP growth in Q2FY18 remains below 7%, the outlook for Samvat 2074 would remain uncertain at best, says Nitin Desai.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
RBI, govt steps to help banks end NPA woes by Mar'17: Rajan
Asserting that the non-performing assets in the banks have been contained, bankers on Tuesday said that they were monitoring it on a constant basis.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
It's unfair, isn't it? That good borrowers are not rewarded for their discipline and are forced to subsidise indisciplined borrowers who may pose higher credit risk...
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.
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