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
Not all public sector banks are back in the black, but their collective net profit for the year is Rs 32,346 crore against a Rs 9,013 crore loss in the previous year, points out Tamal Bandyopadhyay.
The crisis in Indian banking has now reached a point where the NPAs of many public-sector banks are higher than their net worth
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
Fiscal discipline has been maintained but toxic assets worth Rs 7 crore are a massive headache
The Finance Ministry has called a meeting of heads of public sector banks to clear stalled projects.
Sharma to step down as Axis Bank chief on December 31.
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.
The Sensex ended 290 points higher at 29,095 mark and the Nifty gained 94 points to close at 8,806 levels.
Gross NPA of PSBs at the end of March quarter stood at 5.20 per cent, against 5.63 per cent in December.
A rate cut will bring positive sentiment around the Budget.
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
The time-bound nature of the bankruptcy code, envisaging resolution within 180 to 270 days, would put enormous pressure on the existing judicial infrastructure.
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
India's aggregate NPA as a percentage of GDP is far lower than that in Italy, Greece.
Trouble at a single bank among the top five most connected lenders could wipe out nearly 50% of Tier I capital
Uttar Pradesh and Punjab have announced loan waivers for farmers, while Maharashtra has not despite Opposition pressure. Sanjeeb Mukherjee reports.
The agency has predicted that monsoon will also be a major factor.
Gains were led by index heavyweights with Reliance Industries contributing the most.
The Budget has to provide for capex on roads, railways, defence and other infrastructure sectors.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Chidambaram said banks have been asked to strictly adhere to the norms on gold imports.
'Election years tend to see high government expenditure on unproductive schemes, though that money sloshing around can boost private consumption.' 'Again, it can mean higher inflation,' explains Devangshu Datta.
India is only on the starting block.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
Owing to Finance Minister Nirmala Sitharaman being new to her role, a number of crucial announcements in the Budget bore Garg's imprint, especially the decision to borrow in overseas markets, reduce the fiscal deficit as a percentage of gross domestic product, and resort to off-Budget borrowing to meet that target, says Arup Roychoudury.
At least five state-run banks on central bank's radar for lax credit appraisal
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
While stocks are at cheap valuations, the volatility can be unnerving.
Public sector banks are inefficient, poorly governed and beset by largescale corruption.
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
Just before the elections, the government waived interest on loans up to Rs 300,000 for farmers. But this may not really help small and marginal farmers in the state, who make up for two-thirds of the total and are still dependent on informal channels of credit.
There are actually great similarities between the two PM
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
Fifty per cent of bank restructured assets were in infrastructure, steel, power and telecom sectors.
Asia has opened largely in the green ahead of a raft of Chinese data due during the day.
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.
'And the top 10 per cent will grow because they have to serve the market.'
The recapitalisation, the finance minister said, will enhance the lending capacity of state-owned banks and help them come out of RBI's Prompt Corrective Action framework.
