Total income of the bank improved to Rs 13,852.1 crore (Rs 138.52 billion).
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
Rajnish Kumar was on Wednesday appointed the new chairman of the largest public sector bank, State Bank of India (SBI), replacing Arundhati Bhattacharya who completes her one-year extended term on Friday.
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.
Telecom department says spectrum can't be used as collateral because it's government property
However, the RBI declined to share details of action being taken on these fraud cases saying "it is not readily available".
According to highly placed sources, the finance ministry is likely to extend ECLGS and other loan guarantee schemes for micro, small and medium enterprises (MSMEs), hospitality and tourism sector, and the health infrastructure beyond March 31, Business Standard has learnt. This is likely to be announced by Finance Minister Nirmala Sitharaman as part of her Budget speech on February 1.
Experts hail 2014 as the worst year for banks.
The stimulus measures include extension of the 90-day moratorium on recognition of impaired loans to 180 days, in addition to several relaxations in bank lending limits, including allowing banks to fund interest on working capital loans.
Khara will replace SBI Chairman Rajnish Kumar, whose three-year term comes to an end on October 7.
The total exposure of top 50 defaulters of PSBs as on December 2015 was Rs 1,21,832 crore.
The plea, filed by Delhi-based Bejon Kumar Misra, said the Centre and RBI should be directed to ensure complete insulation and insurance of the hard-earned deposited money of people in various co-operative banks, including nationalised banks, by enacting an appropriate measure of 100 per cent insurance coverage towards the deposited amount.
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
Recent estimates show that foodgrain production in 2016-17 has touched a new record of 273.4 million tonnes or 8.7 per cent higher as compared to last year.
After removing three PSBs - BoI, Mahabank and OBC from the framework, RBI, on Tuesday, took out three commercial banks - Allahabad, Corporation and Dhanlaxmi from the said list.
Kenneth Rogoff, professor of public policy and economics at the Harvard University, tells Dilasha Seth on the sidelines of the Delhi Economics Conclave that public sector banks will need to take a one-time haircut to address non-performing assets.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
SC expressed surprise that no steps were taken for recovery.
ICICI Bank puts up a good show in Q4.
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
Faulting previous governments for not taking adequate measures to economically empower women in the country, Prime Minister Narendra Modi on Thursday said his government was constantly creating an environment in which women self-help groups can connect villages with prosperity as he released Rs 1,625 crore as capitalisation support fund to over four lakh such groups. In a virtual interaction with the women self-help groups (SHGs) under the "Aatmanirbhar Narishakti se Samvad" (dialogue with self-reliant women) initiative, Modi said in a changing India, opportunities are increasing for women to move forward. The movement of woman SHGs has intensified in the last 6-7 years with over 70 lakh of them working across the country, a figure over three times more than earlier, he said, adding over eight crore women are connected with these groups.
The RBI, which has been keeping rates at an elevated level citing the high inflation, wants to bring it down to 6 per cent by January 2016.
With March 2016 being the final quarter when banks will have to disclose their stressed assets, the markets are assuming the worst is yet to come
The bank had reported a net profit of Rs 2,325.70 crore in last FY.
The Commission observed vulnerability of junior untrained staff on probation and their misuse by senior officials.
Relying on the private sector to undertake infrastructure investment may not be a realistic proposition.
In his address at a conference of state secretaries, Rajan stressed the need to strengthen state-level coordination committees by ensuring participation, conducting meetings more frequently and sharing quality information among all stakeholders, including state government agencies.
Under the new model, the surplus distribution in the participating policyholders' fund has been modified to 90:10 in a phased manner, wherein 90 per cent will go to policyholders and 10 per cent to shareholders. Further, 100 per cent of the surplus generated out of the non-participating business will be available for distribution to all shareholders.
Private banks are assumed to be more efficient at intermediating between depositors and investors.
To ease pressure due to the coronavirus lockdown, corporate have asked banks and the government for a six-month liquidity line, so that they can pay off their suppliers and employees.
Total income increased to Rs 41,833 crore (Rs 418.33 billion) during the quarter from Rs 37,199.92 crore (Rs 371.99 billion) in the corresponding period last year.
ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
According to Association officials, Indian Banks' Association offered only a 11.5 per cent increase in hike compared to 17.5 per cent offered in 2011-12.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
Private lenders have also been expanding their branch and automate teller machine networks aggressively.
The government on Friday gave wide-ranging legislative powers to the Reserve Bank of India to issue directions to lenders to initiate insolvency proceedings for the recovery of bad loans.
PSB executives said loans to group holding company IL&FS and entities might still be treated as "standard".
Rating agency ICRA on Wednesday revised down its credit growth outlook for banks to 2-3 per cent for the current fiscal, and said the coronavirus pandemic-driven stress may leave 3.1-3.7 per cent of assets into bad loan list by March.
