Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
Bank, bankruptcy reforms, Nabard Bill amendment on agenda.
Ayan Pramanik reports on former Infosys CFO V Balakrishnan's fintech firm, which aims to make borrowing easy for small firms and individuals.
A bench headed by Chief Justice T S Thakur also sought a response on the question as to whether the recovery tribunals are equipped to decide the loan recovery cases within a fixed time frame, stipulated under the law.
Sharma would be 60 in November 2018, and would have completed 10 years as Axis Bank's CEO the following year in June.
A section of analysts feel now may not be a bad time to buy select PSBs.
While the overall loan disbursements stood strong at 15 per cent YoY in Q2, pockets such as vehicle finance, loans to NBFCs, and business banking showed some weakness. A continued fall in these numbers may make it tough for AU SFB to defend its valuations under the current circumstances.
Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) next week to review performance of the lenders and progress made by them to support the economy battered by the COVID-19 pandemic. Banks would be urged to sanction loans for productive sectors to accelerate revival of the economy, sources said. According to sources, the two-day meeting would commence on November 17 and undertake a comprehensive review of various segments, progress in government schemes including Aatmanirbhar Bharat Abhiyan.
The Finance Ministry is considering a proposal to set up a National Asset Management Company that may act as a nodal agency for taking over bad loans of banks and help revive sick units.
Gadkari, who handles key infrastructure-related portfolios, said there is no problem with the road sector at present and money is not an issue anymore.
Total income of the bank during January-March 2018 stood at Rs 14,559.85 crore, slightly up from Rs 14,181.31 crore earned in the same period of 2016-17.
With 600-700 new NPA cases getting admitted into NCLT every month, the demand for resolution professionals is on the rise with their number more than doubling in less than a year.
After a gap of about five years, a public sector bank (PSB) has decided to rope in a cricketer to boost its brand.
Gross bad loans of banks may rise from 6.9 per cent in September 2021 to 8.1-9.5 per cent by September 2022 if the Omicron variant strikes the economy hard, as per the financial stability report of the Reserve Bank released on Wednesday. The report also said that the rising stress level in the retail loan portfolio of banks -- the mainstay of bank credit for many years now -- was led by home loans, which grew in double-digits so far this fiscal. While asset quality improved, with gross non-performing assets (GNPA) and net NPA (NNPA) ratios declining to 6.9 and 2.3 per cent, respectively, in September 2021, the slippage ratio inched up during the same period as private sector banks showed a higher rate of deterioration in asset quality, as per the report.
Experts say a combination of improving asset quality and NBFCs' weak balance-sheets bodes well for both corporate and retail banks.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
Banks will also consider requests from MSMEs for restructuring their stressed standard assets. So far, only 25 per cent of the around 1 million eligible MSMEs have taken benefit of the RBI's special dispensation.
GNPAs of public sector banks are now at a staggering 11.2 per cent of their advances.
'Just because you don't see them does not mean they don't exist.' 'The greatest risk is overconfidence.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
In a bid to make primary markets more efficient, the Securities and Exchange Board of India on Saturday said listing time gap would be reduced further from 6 days after the IPO currently, while listing will be allowed for security receipts issued by asset reconstruction company.
From the roll-out of GST to H1B visa problems, the government needs to quickly deal with various disruptions.
While the Congress party has said that the deal was transparent as payment of Rs 2 crore was received by Vadra from Kapoor through cheque and was reflected in income tax returns, the ED is probing if the painting was owned by her or the AICC.
Digital India and Make in India (initiatives) are designed to give special boost to manufacturing and India has huge potential in these areas.
The order, a "negative" overall, will be a short term positive for corporate focused state-run and private lenders because of the possibility of delaying incremental stressed asset recognition.
NPA problem to continue for next 2-3 quarters: banks to FinMin
The lenders have not ruled out selling the property to recover part of their loans to the company.
The central bank has ordered lenders to clean up balance sheets by March 2017
In its FIR filed recently, the CBI has named Khattar and his company Carnation Auto India Limited for allegedly causing a loss of Rs 110 crore to Punjab National Bank.
Its total income during the September quarter also slipped to Rs 30,191 crore, as against Rs 32,435 crore in the year-ago period
The public sector banks are not in a position to cut rates because of their weak balance sheets and massive portfolios of non-performing assets, says Devangshu Datta.
Some accounts can be revived by rescheduling loans, which the RBI envisages to do once the norms get finalised after the public discussion.
The bank will now be in a position to resume normal lending activity, including corporate lending, with tightened risk management framework.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
Union Finance Minister Arun Jaitley is set to present the Budget next month.
Axis Bank was the top gainer in the Sensex pack, climbing 3.33 per cent, followed by PowerGrid, SBI, Bharti Airtel, ICICI Bank, Reliance Industries and Maruti.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
The major beneficiaries of loan recasting will be sub-Rs 500 crore corporate exposures and retail exposures, which were earlier expected to see the highest increase in NPAs in percentage terms.
The current wage revision for PSBs, as well as some private lenders, is due from November 2017 for five years - up to October 2022.
Managing expectations is a challenge for policymakers.
