'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
The central bank is of the view that banks should be given more time to restructure defaulted loans, which could be implemented by lengthening the repayment cycle, RBI executive director Anand Sinha said. Further, Sinha said that interest rates would ease over a period of time, given that the system is rich with sufficient liquidity infused by the apex bank over a period of time, through several rate cuts and CRR reductions.
A glance back at some important events that occurred in 2018.
SBI's overall gross NPA as on end-December 2013 was close to Rs 68,000 crore ( Rs 680 billion) or 5.73 per cent of its gross advances.
Mid-cap information technology (IT) stocks dominate the list of companies that are trading significantly above their 200-DMA
Prof Ananth Narayan, well known financial expert who works as a faculty member at the SP Jain Institute of Management and Research and the RBI's nominee director on the board of Yes Bank, expects a double-digit contraction in India's GDP this fiscal year. In the first of a two-part interview to Shobha Warrier/Rediff.com, Prof Narayan, below, says, "Giving liquidity and loan to cover the cash flow problem is not sufficient because you are essentially increasing the debt of many of these companies. And they might not be able to bear the burden."
'One thing is sure: After this Budget, no Ambani-Adani tag will be attached to the government.'
Despite all of the PM's many strengths, it is increasingly clear that he does not necessarily have a coherent and clear worldview on matters of macro policy.
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.
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
The Reserve Bank of India (RBI) on Wednesday relaxed the prudential norms for banks' exposure to derivative contracts by allowing the non-payment of dues on a contract made during the period between April 2007 and June 2008 to be classified in a separate account.
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
Non-Performing Assets are a wake-up call for public sector banks.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
Public banks face slowdown heat.
'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.
'High denomination cash notes which was 1.4 lakh crores of Rs 500 and Rs 1,000 notes in 2004 became Rs 15.5 lakh crores in 2016.' 'If it had been allowed, by 2022, it would have been Rs 34 lakh crores, and that would have been the end of the Indian economy.' 'Demonetisation was a huge hit on the head of the economy, but without the hit, you could not U-turn the economy.'
Thanks to Rajan we are an inflation-targeting country now
'If the RBI had done the right things, these mistakes would not have happened in banks, public or private,' says Ajay Shah.
Union Home Minister Rajnath Singh on Friday stressed the need for making police stations as "temples of justice" as he advised police personnel to develop a sense of social responsibility to serve the public.
Each enquiry could pull down the credit score by 5-10 points.
The remarks came amid reports of mounting tension between the finance ministry and the RBI over the autonomy of monetary policy makers.
In the global context, the country "stands out" in terms of relatively stronger growth and improved economic fundamentals, Raghuram Rajan said.
The present home loan non-performing asset figures of banks understate the extent of delinquency in the sector as loans given in the last three years
On resolution of stressed cases, she said ICICI Bank has been taking the lead in several cases and was the first bank to refer a case to NCLT
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
'Ultimately, people will revolt at one time or the other.' 'You cannot feed the public with cultural issues forever.'
Numerous things could jeopardise your loan repayment. Debt can become a noose around your neck. How do you deal with it, and the related dangers?
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
There would be no retrenchment of employees and that their services conditions would also not be affected post merger.
For stressed loans, the need is to prevent disruption in cash flows from a systemic perspective, conserving employment and assets in untainted enterprises with the potential for recovery, says Shyam Ponappa.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
There is little sense in trying to find stocks that will not be vulnerable in a situation where 87% of the market is trending down and India is getting set for a crucial election, says Devangshu Datta.
RBI proposed that at least half of the compensation of a CEO should be variable. It also said that stock options should be part of the variable pay, against the extant practice of keeping it beyond and above the scope of the official compensation package.
Cascading effect of rising raw materials will result in inflation, high rates, slow capex
Here's the full text of the statement
The revival of long-term growth is highly dependent on the revival of private investment.
'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.'
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