'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
Canara Bank has offered to help China recover its huge non-performing assets in the banking sector.\n
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
Gross NPAs of public sector banks were Rs 41,378 crore (Rs 413.78 billion) in March 2006, which came down to Rs 38,305 crore (Rs 383.05 billion) in March 2007 because of better economic environment.
'The worst is over, but it may take a couple more years for the banking system to re-establish the growth process.' 'Banks are the major pillars in an economy's revival.' 'Without banking operations and lending, revival will not happen.'
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
While the RBI can nudge things along, ultimately bank owners must recapitalise and review internal processes to ensure that a culture of irresponsible lending doesn't continue, says Devangshu Datta.
A series of failed loan recast programmes continues to haunt banks.
Sharma would be 60 in November 2018, and would have completed 10 years as Axis Bank's CEO the following year in June.
The continuing stress faced by corporate India has weakened their debt-servicing capability and this is reflected in the banks' books, as yet-burgeoning bad loans.
Bajaj Finserv has few opportunities and challenges to overcome in 2015.
Valued at $71.2 billion, the bank's market capitalisation is more than that of global banks like Barclays, JP Morgan Chase and Credit Suisse.
Analysts, however, said the timing of the infusion was good.
Banks will also have to seek borrower's status report from Central Economic Intelligence Bureau on the account turning NPA
'I suspect the recovery that the banks are going to get out of this IBC is not going to be more than 30 per cent.' 'If you leave the steel industry aside, the recovery rates are not looking very, very healthy,' Jairam Ramesh tells the Rajya Sabha.
While they have restructured loans, there is still question mark over the success of such a work-out
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
RBI has already come out with a discussion paper on banking sector in India, on which the regulator has invited comments from stakeholders.
Maharashtra and West Bengal lead the way in bank fraud.
At a time when the asset quality of state-owned banks is deteriorating, the Reserve Bank of India is also planning harsher penalties for wealthy promoters of wilful defaulters.
The finance minister has said that United Bank has managed to reduce its non-performing assets.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
The meeting with the top officials of public sector banks is scheduled for March 5, a senior finance ministry official told PTI.
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.
Under the Indradhanush roadmap announced in 2015, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise a further Rs 1.1 trillion from the markets to meet their capital requirement in line with global risk norms, known as Basel III.
The RBI has been critical of banks for using restructuring schemes to hide the stress.
Arundhati Bhattacharya talks about SBI's strategies, its aim to be among the top 30 banks globally, and stressed assets resolution.
Bad loans in public sector banks more than tripled.
The RBI had on August 7 announced a five-member expert panel under former ICICI Bank chairman Kamath to make recommendations on the required financial parameters for recasting corporate loans.
Mutual funds, bonds, PPFs, equity and real estate are some options which offer varying rates of return.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
Here's the full text of the statement
With mounting pressure to set aside substantial amounts each quarter to improve provision cover for bad loans, State Bank of India is using every possible way to step up recoveries from non-performing assets.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
Loss takes analysts by surprise, as they were expecting the bank to post a net profit of Rs 19 billion.
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
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