The chairman of India's largest bank on why he would like to forget the first six months of his stint and the steps he has taken to revitalise the institution.
Chaudhuri succeeds managing director R Sridharan, who was the acting chairman after O P Bhatt retired on March 31.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
On October 31, Chaudhuri was arrested from his Delhi home by the Jaisalmer police for his alleged role in crippled Rs 200 crore Garh Rajwada hotel project in the city which was sold for Rs 25 crore to Alchemist ARC in March 2014. The project was financed by the bank in 2007.
Mallya took a dig at Chaudhuri by saying, while the SBI chairman had all guns blazing on loan recovery, all his guns were blazing on restart and rehabilitation of the airline.
Top bankers on Wednesday exuded confidence that Raghuram Govind Rajan, who today took over as the 23rd Governor of the Reserve Bank, has the intellectual prowess to wade through the present difficulties facing the economy and wished him all success for the stint at Mint Road.
SBI Chairman Pratip Chaudhuri told reporters in New Delhi on Thursday the Kingfisher Airlines (KFA) account had turned into a non-performing asset (NPA). "The account became an NPA on December 31, 2011. They are in default," Chaudhuri said.
The message was given to the airline's CEO, Sanjay Aggarwal, at a meeting here on Wednesay.
Kingfisher Airlines needs to invest at least Rs 2,000 crore to restart its operations, said one of its lender SBI's Chairman Pratip Chaudhuri.
ICICI Bank Chairman K V Kamath on Thursday disagreed with the suggestion of SBI chief Pratip Chaudhuri that RBI should scrap CRR, saying it is part of the monetary policy and no issue can be made of it.
A day after RBI deputy governor's comment, Chaudhuri says his idea on cash reserve ratio was meant to ignite public debate
State Bank of India Chairman Pratip Chaudhuri says though Friday's cash reserve ratio cut will help ease short-term rates, liquidity may continue to be tight and, hence, a further 25-bp (basis point) cut in CRR can be expected.
Finance ministry orders probe.
Kingfisher lenders will soon decide on future course of action with regard to the grounded airline as they do not want the company to close down, State Bank of India (SBI) said.
Bankers said India's structural story from medium to long term was intact and they were optimistic about the future.
On October 5, the Directorate General of Civil Aviation, or DGCA, finally wrote to the troubled Kingfisher Airlines, asking it to show cause why its licence should not be revoked.
The State Bank of India on Friday said Kingfisher lenders have decided to release funds to the debt-ridden airline on "humanitarian grounds" considering that its employees have not been paid for the past seven months.
State Bank Chairman Pratip Chaudhuri's call last week for abolishing the mandatory cash reserve ratio had attracted a sharp reaction from RBI Deputy Governor K C Chakrabarty. CRR is the amount of deposits that banks park with the RBI as a prudential measure without earning interest on it.
Last year the bank taken everybody by surprise by opting to keep all its branches open on October 2
Worst quarter in a decade, fund crunch, Fitch downgrade and messy NPAs. . . he has had little to cheer about
The consortium of 17 banks, led by SBI, has an outstanding of over Rs 7,000 crore (Rs 70 billion) from the carrier but has shares of listed entities like United Spirits as collaterals which should realise Rs 500 crore (Rs 5 billion).
SBI Chairman Pratip Chaudhuri feels a 0.50 per cent interest rate cut is needed.
SBI has over Rs 1,500-crore (Rs 15-billion) of exposure to Kingfisher.
Delays in crucial PSU appointments a reflection of poor governance and political vested interests
RBI slams public sector banks for the strange phenomenon of profits dipping when a new chairman takes over.
The savings bank deposits in banks in the country are already deregulated in a sense, with the swipe system allowing them to convert the deposits to fixed deposit to enjoy the higher rates, said Pratip Chaudhuri, chairman, SBI.
According to the annual report of SBI, overall staff strength declined by 7,452 employees during the last fiscal.
The consortium of 17 banks, led by SBI, has an outstanding of over Rs 7,000 crore (Rs 70 billion) from the carrier.
A cut in the CRR will help banks release their funds stuck with the RBI on which they do not get any interest from the regulator.
Four days ahead of RBI's monetary policy review, SBI Chairman Pratip Chaudhuri says a cut of one percentage point in CRR will allow the bank to lower lending rates 20 basis points.
Gold prices have dropped, but still they are above 70 per cent of the peak value.
At present, CRR, the portion of deposits which commercial banks keep with the central bank, stands at 6 per cent.
The SBI chief said the bank was comfortable on the liquidity front.
On Saturday, bankers met the KFA management in yet another inconclusive meeting.
Ahead of RBI's monetary policy review, SBI on Monday expressed hope the apex bank will cut interest rates by 0.5 per cent and CRR by up to one per cent to boost sagging growth.
Come with full data, put in more equity, get other creditors on board and begin homework for RBI okay: SBI chief.
Seeking to downplay the impact of the downgrade by Moody's, the country's largest lender SBI on Wednesday admitted that the action will marginally increase medium term borrowing costs, and said it is a "reminder" to the government to urgently capitalise it.
SBI says the downgrade will not hurt the bank that much.
Pratip Chaudhuri, SBI chairman, feels that the airlines should bring the amount to the table.
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