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RBI expands oversight committee; inducts 3 member on panel

The Reserve Bank has expanded the oversight committee by appointing three more members to the high-level panel that will vet the process to resolve mounting bad loans bogging down the banking sector.

RBI actively working on NPA resolution, action soon: Arun Jaitley

RBI actively working on NPA resolution, action soon: Arun Jaitley

Besides NPA resolution and bank finances, the meeting also featured the government's financial inclusion schemes.

FM Arun Jaitley meets PSU bank chiefs; reviews NPA situation

FM Arun Jaitley meets PSU bank chiefs; reviews NPA situation

Jaitley also reviewed the financial performance of all the public sector banks (PSBs) at the meeting.

Arun Jaitley to meet PSU bank chiefs today to review NPA situation

Besides, the minister will review the financial performance of all the public sector banks (PSBs) at the meeting, the first between Jaitley and them in the current fiscal.

Reform measures to broaden tax base, cut debt: Moody's

Reform measures undertaken by India will broaden its tax base and help government cut down on debt, but high stressed assets in the banking sector pose contingent liability risks.

Euro zone stability risk contained but rising - ECB

Financial stability risks in the euro zone are contained but remain significant and have even increased in some areas over the past six months, the European Central Bank said in a regular stability review on Wednesday.

18 lakh cases where income and account profiles don't match: FM

18 lakh cases where income and account profiles don't match: FM

Authorities have detected 18 lakh cases after demonetisation where the income profiles of people do not match their account profile, the Lok Sabha was informed on Friday.

Arun Jaitley to chair high-level meet on bank NPAs today

Arun Jaitley to chair high-level meet on bank NPAs today

The meeting, which will also be attended by Financial Services Secretary Anjuly Chib Duggal, will discuss ways of resolution of stressed assets urgently.

HSBC's India headcount rises by 4,000 despite global drop

HSBC's India headcount rises by 4,000 despite global drop

UK-based banking major HSBC saw its India headcount rise by 4,000 people to reach 37,000 last year even as its worldwide workforce got trimmed by nearly 23,000 persons.

'Bad bank' to speed up stressed assets resolution: Fitch

'Bad bank' to speed up stressed assets resolution: Fitch

Setting up of a 'bad bank' can accelerate the resolution of stressed assets in the banking sector but that would also require a credible capital infusion plan by the government, Fitch Ratings said on Friday.

Economic Survey 2017: Policy making constrained due to bureaucratic caution

Economic Survey 2017: Policy making constrained due to bureaucratic caution

Policy making in certain areas like telecom and banking has been severely constrained due to "abundant caution in bureaucratic decision-making", the Economic Survey said on Tuesday.

Bankruptcy Code can potentially free Rs 25,000 cr in NPAs in 5 years: Assocham

Bankruptcy Code can potentially free Rs 25,000 cr in NPAs in 5 years: Assocham

Proper implementation of the Insolvency and Bankruptcy Code, 2016 can potentially free about Rs 25,000 crore capital locked up as non-performing assets (NPAs), or bad loans, over the next four-five years, Assocham said on Monday.

Banks to remain closed for 5 straight days; take out cash before ATMs dry up

Banks to remain closed for 5 straight days; take out cash before ATMs dry up

If you want to get regular services like cheque clearance, cash deposits done, must ensure that you complete them by Friday.

NPAs to dip on high industrial capacity utilisation: SBI chief

NPAs to dip on high industrial capacity utilisation: SBI chief

SBI chairperson Arundhati Bhattacharya Monday said the stressed assets level in the banking sector will come down once the key industrial sectors start functioning at their optimum capacity.

Govt to focus reforms on tax, banks, infrastructure: Arun Jaitley

Govt to focus reforms on tax, banks, infrastructure: Arun Jaitley

The top economic policy priorities for the Indian government are to pass a planned Goods and Services Tax, to revive the banking sector and get stalled infrastructure projects moving, Finance Minister Arun Jaitley said on Wednesday.

PSB losses on higher provisioning, will provide more funds: Finance Minister

PSB losses on higher provisioning, will provide more funds: Finance Minister

New Delhi: Committing to provide more funds for recapitalisation of state-owned banks, Finance Minister Arun Jaitley on Monday said that cumulative losses of Rs 18,000 crore suffered by them last fiscal were mainly on account of higher provisioning for bad loans.

Two years of Modi government: Key tasks yet to be fulfilled!

Two years of Modi government: Key tasks yet to be fulfilled!

As Narendra Modi led National Democratic Alliance (NDA) government completes two years in office, we are evaluating the promises fulfilled and those still incomplete here. 

Shocking: One-third of a bank stock you buy is going away as bad loan!

Shocking: One-third of a bank stock you buy is going away as bad loan!

It's not hidden from anyone that the Indian banking sector is in a great mess. The earnings numbers from the 25 banks for FY16 have clearly shown that the scenario is not very encouraging.

NPAs may rise to 6.9% under severe stress scenario: Finance Ministry

NPAs may rise to 6.9% under severe stress scenario: Finance Ministry

Attributing mounting bad loans to economic sluggishness, Finance Ministry's annual report has said gross non-performing assets (GNPAs) of banks could soar to 6.9 per cent by March 2017 in a "severe stress scenario".

Bank employees union calls for nationwide strike on Aug 29

Bank employees union calls for nationwide strike on Aug 29

An umbrella body of bank unions has called for a nationwide strike on August 29 to protest against the government's banking reforms.