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RBI governor suggests merging public sector banks

RBI governor suggests merging public sector banks

Reserve Bank Governor Urjit Patel says that merging public sector banks and having fewer of them would be better for the sector and also help deal with problem of non-performing assets (NPA).

MFs' exposure to bank stocks hit record Rs 1.2 L cr in February end

MFs' exposure to bank stocks hit record Rs 1.2 L cr in February end

Mutual Fund managers seem to be bullish on bank shares as they raised their allocation in the sector to an all time-high of over Rs 1.2 lakh crore at the end of February, primarily on account of cheaper valuations.

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.

Urjit Patel holds long-gestation projects responsible for high NPAs

Urjit Patel holds long-gestation projects responsible for high NPAs

RBI Governor Urjit Patel on Saturday attributed the banks grappling with high bad loans to legacy issues saying they are mostly on account of credit facility provided for long-gestation projects before 2011-12.

Central Bank narrows Q3 net loss at Rs 605.70 crore

Central Bank narrows Q3 net loss at Rs 605.70 crore

Public sector Central Bank of India on Saturday reported a net loss of Rs 605.70 crore for the third quarter ended December 31, 2016, on persisting bad loans.

SC against disclosure of big defaulters' names, says won't lead anywhere

SC against disclosure of big defaulters' names, says won't lead anywhere

The Supreme Court today said that disclosure of names of debtors, who owe Rs 500 crore and more to banks, will not lead "anywhere" as the important issue is to address "root cause" of accumulation of non-performing assets (NPAs).

Banks may be able to deprovision as they recover: Arun Jaitley

Banks may be able to deprovision as they recover: Arun Jaitley

Finance Minister Arun Jaitley said on Friday that if the economy recovers, banks may be able to "deprovision" some of the non-performing assets that are weighing on their balance sheets and curbing their ability to expand lending.

Pace of new bad loan formation has decelerated: RBI

Pace of new bad loan formation has decelerated: RBI

RBI Deputy Governor S S Mundra on Tuesday said the pace of formation of new non-performing assets (NPAs) or bad loans has decelerated although some banks have posted losses for the first quarter of the current financial year due to higher provisioning.

 

Banks consolidation next fiscal, priority to end NPAs: BBB chief Vinod Rai

Banks consolidation next fiscal, priority to end NPAs: BBB chief Vinod Rai

The consolidation of more banks may begin from next fiscal as the priority today is to unlock the jammed lending system with the Non-Performing Assets (NPAs) sitting over balance sheets of banking institutions, Banks Board Bureau chief Vinod Rai said Tuesday.

Bank consolidation risks may outweigh benefits: Moody's

Bank consolidation risks may outweigh benefits: Moody's

Efforts to consolidate 27 public sector banks into 8-10 large lenders create risks that could offset potential long-term benefits in the current weak economic environment, Moody's Investors Service said Tuesday.

 'Don't treat credit ratings as gospel truth'

'Don't treat credit ratings as gospel truth'

As part of efforts to rein in soaring bad loans and restructuring of assets, banks should upgrade skills for greater due diligence to evaluate credit ratings, which need to be treated as "opinion" rather than "gospel truth", says a study.

 

Separate morality from NPA clean-up, says Raghuram Rajan

Separate morality from NPA clean-up, says Raghuram Rajan

Amid raging controversy over loan defaults by corporates, RBI Governor Raghuram Rajan has said the issue of bad loans gets "loaded with a lot of morality" and it is necessary to keep criminal liability separate for putting the stressed assets back on track.

Will tackle bank stress problem at its core: Arun Jaitley

Will tackle bank stress problem at its core: Arun Jaitley

Finance Minister Arun Jaitley said on Monday that his government will find a lasting solution to the financial stress of banks by addressing issues at the core of the problem - over-borrowing by long-troubled sectors like steel, sugar, power and highways.

Vijay Mallya issue: We have not been approached by ED so far, says MEA

The Ministry of External Affairs said on Thursday that they had not been approached so far by ED regarding Vijay Mallya.

No signs of sharp turnaround in economy in FY17: Crisil

No signs of sharp turnaround in economy in FY17: Crisil

Ratings agency Crisil has said that there are no signs of Indian economy sharply rebounding in the next financial year as the fiscal policy remains restrictive.

 

SC asks RBI to give list of defaulters of over Rs 500 crore loan

SC asks RBI to give list of defaulters of over Rs 500 crore loan

The apex court also asked the Reserve Bank of India (RBI) to provide within six weeks the list of companies whose loans have been restructured under corporate debt restructuring schemes.

 

27 PSU banks write off Rs 1.14 lakh cr bad debts during 2012-15

27 PSU banks write off Rs 1.14 lakh cr bad debts during 2012-15

A whopping Rs 1.14 lakh crore of bad loans have been written off by 27 public sector banks (PSBs) during FY 2012-15, with the last fiscal alone witnessing a steep 53 percent rise in write-offs as part of the balance sheet clean-up.

IndusInd Bank Q3 net up 30% to Rs 581 crore

Private sector lender IndusInd Bank on Tuesday posted 30 percent increase in net profit to Rs 581.02 crore for the third quarter ended December 31, 2015-16.

NPAs Of 37 Banks Record 26.8% Increase In Last One Year

In last one year 37 banks including public banks have shown an increase in NPAs by 26.8% due to halted Infrastructure projects.

Canara Bank Q2 net drops 16% to Rs 529 crore

The public sector lender had registered a net profit of Rs 626.84 crore in the corresponding quarter last year.