After 2015, all re-structured assets will be treated on a par with non-performing assets, requiring the same level of provisioning.
'We need to further catalyse economic growth and the government needs to increase revenue,' says G K Agarwal, BJP's national spokesperson on economic affairs.
The banking regulator is seeking an early exit mechanism for private banks under Prompt Corrective Action.
The noted economist said some of the bad loans are due to a slowdown in the economy and asset restructuring companies are part of the solution.
The finance ministry also said the maximum funding will be Rs 400 crore for any single project that will be seeking assistance from the 'special window' for completion of the 1,508 projects comprising about 4.58 lakh units.
Standalone total income increased to Rs 74,457.86 crore in the first quarter of 2020-21, from Rs 70,653.23 crore in the same period a year ago.
Its total income (consolidated) rose to Rs 79,302.72 crore in the quarter under review, compared to Rs 74,948.51 crore in the year-ago period
Experts say lending rates won't come down significantly,as banks are grappling with NPAs
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
Bajaj Finserv has few opportunities and challenges to overcome in 2015.
Gandhi accusing the minister of 'lying' on HAL's capability to build the jet fighters, saying her position is untenable.
Market participants are hoping for a few tweaks on the taxation front which will encourage consumers and businesses to spend.
Jaitley slams Rajan for MSME banking crisis statement, says postmortem is easier than action
Not all NPAs are treated as wilful defaulters.
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.
RBi pushes for reinvigorating private investments, clearing infra bottlenecks and providing big thrust to Pradhan Mantri Awas Yojana.
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.
Vijay Mallya left India on March 2, presumably for London.
Is the SBI chairman leaving the bank in a stronger and better position than what it was? Abhijit Lele finds out.
'There is no difference between the earlier government and the present government.' 'They are all following the economic policy based on the Chicago School of thought.' 'This school of thought says the government should have very little role in governing the country and the majority of the work should be handed over to the private sector.' 'This has not succeeded in the US.' 'Yet, it is being tried here by people like Arvind Subramaniam, Arvind Panagariya, Urjit Patel and Raghuram Rajan.'
Rating agencies on Wednesday warned against more exposure to debt-ridden Kingfisher Airlines, saying more debt may hit banks' credit profiles and add to the burden of provisions.
Not only has the Mudra loan mela generated no jobs, it has frittered away trillions of taxpayers' money and it's time to bury the scheme, argues Debashis Basu.
The time-bound nature of the bankruptcy code, envisaging resolution within 180 to 270 days, would put enormous pressure on the existing judicial infrastructure.
Say their aggregate borrowings were "well within the norms"
Speaking at the Delhi Economic Conclave in New Delhi, Reserve Bank of India Governor Raghuram Rajan said the central bank will come out with a discussion paper next week with regard to distressed borrowers and rising non-performing assets.
Markets end marginally higher supported by IT shares as Infosys's Q3FY14 results boosted sentiment.
Bringing down government stakes would augment their capital.
No government can 'ignore inclusiveness in a democracy', Montek Singh Ahluwalia tells Anjuli Bhargava.
Recently, United Bank of India declared Kingfisher Airlines as well as some three of its directors as wilful defaulters.
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
PMAY-Gramin, which was launched in November 2016, aims to construct 10 million homes by March 31, 2019, with private sector and state government participation
After acquiring Grama Vidiyal Microfinance last year, IDFC Bank is looking for opportunities to strengthen its retail capabilities, says Rajiv Lall, its chief,
He said while the previous UPA government hid the bad loans, his government has properly recognised them and brought tough laws to deal with defaults and recovery money.
SBI has been reeling under a mountain of bad loans for the past few years as the key sectors in the economy are faltering.
Advocate Abbad Ponda, his lawyer, said a person with low immunity is easily susceptible to catching coronavirus.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
The country's largest bank had a standalone net profit of Rs 3,241.08 crore (Rs 32.41 billion) in the same quarter last year.
Regulator wants to change NPA classification and hike capital requirement.
