RBI wants the lending rates to be determined by the market.
'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.'
All Jan Dhan bank accounts should be linked to Aadhaar, Prime Minister Narendra Modi said on Saturday while asking bankers to speed up this process and redouble efforts on financial literacy.
The decision was taken at the State Bank of India headquarters in Mumbai on Monday when the top managements of the lenders met.
Some initial reactions to Prime Minister Narendra Modi's announcement of demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.
RBI on Tuesday slashed short-term lending rate by 0.25 per cent to 7.5 per cent, which the bankers read as not enough for an immediate cut in their lending rates.
Lenders ask RBI to ensure cheaper credit for infrastructure sector. Banks say while hardening of rates may be required to combat inflation, even a 50 basis point rise could render many projects unviable. In a meeting with RBI, bankers factored in the impact of higher interest rates on most sectors as a part of the inflation management drive but indicated that the government & the central bank should take steps to ensure cheaper credit for building roads, power plants & ports.
Bankers expect RBI to help them spur lending growth.
On Saturday, bankers met the KFA management in yet another inconclusive meeting.
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
Based on the credit history banks may later decide to extend the amount.
The order brings an end to the nearly three-year legal battle in the Tribunal by the consortium, comprising 17 banks, to recover the money owed to them by the defunct airlines.
The Reserve Bank of india is likely to tell state-run United Bank of India (UBI), which has seen erosion of capital due to bad loans and higher provisioning to implement prompt corrective action.
Frauds can have immediate impact on the banks' financials and can also cause a systemic risk in extreme cases
Monetary transmission has been an issue for the Indian banking sector.
The Tata Tech IPO will be the first from the Tata group since TCS listed its shares in 2004.
Raghuram Rajan said on Friday it is not clear India needs a so-called "bad bank.
IPO market hopes to come out of slump in festive season, reports Sundar Sethuraman.
Disgruntled executives are already pinning hopes on the new banks, too.
Card fees likely to increase to offset replacement cost.
All documents and data were safe as there was a Disaster Recovery Centre for every bank
As the clean-up has taken hold, loan growth slipped to 10.7 per cent in the last fiscal
New regime on loans to one party to kick in by Apr 2019.
Consolidation will help banks derive economies of scale, but integration will not be easy.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Ahmedabad-based Nirma group and leading private equity firms have joined the race to acquire BSE-listed Glenmark Life Sciences. The acquisition by chemicals-to-cement major Nirma, if successful, would be a major boost for the health-care segment of the group, on the lines of its successful entry into the cement sector following its purchase of Lafarge India's assets for about Rs 9,400 crore in July 2016. It later followed up by buying Emami cement assets for Rs 5,500 crore in February 2020.
Banks' loans are set to grow at the slowest pace in a decade this financial year, as companies continue to shy away from borrowing in the current uncertain macro-economic environment.
Instructions were issued on holding loan camps in the last week of September.
Bankers on Wednesday asserted that interest rates were unlikely to go up in the immediate future. They said this on the eve of a crucial meeting of state-owned bank chiefs with Finance Minister P Chidambaram, where the government is expected to signal a bias towards a soft interest rate regime.
Many firms' debt far exceeds their market capital.
As per the survey conducted by Swiss Bankers Association, protection of financial privacy remains important for people in the country with 86 per cent of respondents believing that the financial details of bank clients must be protected from third parties.
Employees of public sector banks have called off the strike planned on February 25 and 26
Any revision in loan rates would be visible next month.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
The government had announced a waiver of over Rs 60,000 crore (Rs 600 billion) in advances to farm sector as a one time measure in the budget of 2008 following stress in the rural sector.
Most legal experts indicate the former ICICI Bank CEO will take the matter to court. Her contention will be she can't be fired and called guilty without proof.
Despite Indian economy recovering, there is very little room for loan growth, say bankers.
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