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.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
Retaining the GST rate assumes importance since states are under pressure to increase their revenues, hit hard by lockdown. Also, the Centre has not fully compensated states for their revenue losses on account of GST for 2019-20.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
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.
A mentor can only help as much because it is the players who will have to go out there and perform the "actual task", the legendary Sunil Gavaskar said on the appointment of Mahendra Singh Dhoni as the Indian team mentor for the T20 World Cup.
SC expressed surprise that no steps were taken for recovery.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
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.
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.
If GDP growth in Q2FY18 remains below 7%, the outlook for Samvat 2074 would remain uncertain at best, says Nitin Desai.
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Banks had a tough time in recovering loans from corporates in 2014.
As for structural reform, there are signs if one looks hard enough.
Share prices of Dewan Housing, Indiabulls Housing, and PNB Housing have declined 30-80% in the past one year
RBI, govt steps to help banks end NPA woes by Mar'17: Rajan
The Sensex came under fag-end selling pressure to close in the red for the sixth straight session on Friday as risk-off sentiment prevailed amid unabated selling by foreign institutional investors and concerns over inflation. The 30-share BSE benchmark pared all intra-day gains and declined 136.69 points or 0.26 per cent to end at 52,793.62. During the day, it had rallied 855.4 points or 1.61 per cent to 53,785.71. On similar lines, the broader NSE Nifty dipped 25.85 points or 0.16 per cent to settle at 15,782.15.
The country's economy will start witnessing a growth of 6.5 to 7 per cent from fiscal 2023 onwards, helped by various reforms undertaken by the government so far and also as COVID-19 vaccination drive progresses, Chief Economic Advisor Krishnamurthy Subramanian said. He said the second wave of COVID-19 is unlikely to have a very significant on the economy. The country's economy contracted by 7.3 per cent in fiscal 2020-21. "Together with the reforms and focus on vaccination, I expect growth to start hitting close 6.5 to 7 per cent from FY23 onwards and accelerate from there on," Subramanian said at a virtual event organised by Dun & Bradstreet.
The scrip was the worst hit among the front-line companies on both the indices during the day.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
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...
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.
Approval to the long-awaited Banking Laws Amendment Bill by Parliament towards the end of 2012 has paved the way for enhanced banking space and may see entry of new players and mergers and acquisitions in the sector in the coming year.
'While we note the very strong cyclical recovery in the economy, we believe there is still uncertainty over medium-term prospects.'
RBI moves to restrict bank exposure to corporate loans.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
Two straight years of less than 5 percent economic expansion have led to a surge in bad loans for Indian lenders.
'Keeravaaniji doesn't work in isolation.' 'He responds to stories, situations and the emotional core of a film.' 'That's why his tunes are so different.' 'Unchiseled emotional masterpieces.'
The unions have also threatened to explore an indefinite strike option, if their demands were not addressed.
Did your bank ever reject your loan application because you were reported falsely for having bad credit history? Tell us.
'80% of the rural and urban population don't have enough purchasing power.'
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
Rush to offload bad loans indicates a revival in asset-sale market
The reason for the stickiness in bond yields can be many, but the most responsible is the liquidity deficit stance taken by RBI, says Anup Roy.
The haircut for major banks stands at 52 per cent, if the dues of Jaypee Infrastructure, Lanco Infrastructure and Era Infrastructure are kept out of the calculation.
A giant effigy of embattled FIFA president Sepp Blatter will be set alight as part of the Bonfire Night celebrations of a small English town.
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
Unless RBI temporarily relaxes the norms on recognising of bad loans, the pressure on this front could rise in the December quarter.
Anup Roy and Krishna Kant on the challenges the public sector banks face in revitalising themselves
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