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Bad loan News
Punjab National Bank
20 Jun 2019
PNB's recovery of bad loans doubled to Rs 20,000 cr in FY19
The bank suffered losses allegedly after jewellers Nirav Modi, Mehul Choksi and some bank employees collided to defraud PNB of about Rs 1,000 crore. The scam was unearthed in February 2018.
Punjab National Bank
28 May 2019
PNB narrows Q4 loss to Rs 4,750 crore
The scam-hit lender had posted a staggering loss of Rs 13,417 crore during the corresponding January-March period of 2017-18.
10 May 2019
Canara Bank Q4 loss narrows to Rs 551 cr on lower bad loans
The bank had posted a net loss of Rs 4,859.77 crore during the corresponding January-March period of the preceding fiscal.
10 May 2019
Allahabad Bank's Q4 loss widens to Rs 3,834 crore
The public sector lender's net loss in the year-ago period stood at Rs 3,509.63 crore.
29 Dec 2018
Over 6,000 officers of PSBs held responsible for bad loans in FY18: Jaitley
Penalties imposed against the erring officials include dismissal, compulsory retirement and demotion.
12 Sep 2018
RBI nominee on PSU boards create illusion of regulatory control, says Rajan
Even Rajan's successor and present RBI Governor Urjit Patel had suggested withdrawal of nominee directors from the boards of public sector banks (PSBs) to avoid any conflict of interest.
public sector banks
06 Oct 2017
Govt to lower number of PSBs to 10-15: FinMin advisor
FinMin advisor said bad loan problems is the first priority and after that the PSU banks could be consolidated.
11 May 2017
NPA norms welcome, will force decisions: Axis' Shikha Sharma
Axis Bank MD and CEO Shikha Sharma today welcomed changes in NPA resolution as moves that will "force" decisions by cutting layers, and also said the bank is looking for one more life insurance distribution tie-up.
21 Oct 2016
Mounting bad loans next big challenge; stage set for take effective action on NPAs: Jaitley
Terming the mounting bad loans as "next big challenge" for the country, Finance Minister Arun Jaitley today said banks should enforce their right and recover dues in the larger interest of the economy.
19 Sep 2016
Indian banking outlook stable; new NPA formation slow: Moody's
The pace of bad loan formation is going to slower resulting in a stable outlook for the Indian banking sector over the next 12-18 months, Moody's Investors Service said.
16 May 2016
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.
07 May 2016
Will make list of wilful defaulters public: RBI Governor
Reserve Bank is working on a new system for making public the list of wilful defaulters, while a new mechanism is being put in place for out-of-court settlement of bad loan-related disputes, Governor Raghuram Rajan said.
04 May 2016
Top 50 defaulters of PSBs had exposure of Rs 1.21 lakh cr
The number of wilful defaulters of PSBs rose from 5,554 to 7,686 in three years to December 2015 while the amount involved more than doubled to Rs 66,190 crore from Rs 27,749 crore.
12 Apr 2016
SC for making public the loan default amount, RBI opposes
The Supreme Court on Tuesday favoured making public the total amount of outstanding loans given by banks to various individuals and entities and running into lakhs of crores of rupees as per the information provided to it by RBI in a sealed cover.
28 Mar 2016
Pay dues honourably or face coercive action: FM to Mallya
In a stern warning to wilful defaulters like Vijay Mallya, Finance Minister Arun Jaitley said they should settle their dues honourably with the banks or else be ready to face "coercive action" by lenders and investigative agencies.
17 Mar 2016
Government to make wilful default a criminal offence
In order to tackle the crisis on bad loans, the Centre is contemplating a revamp on loan defaulters.
05 Mar 2016
Won't write off any bad loans, defaulters won't be spared: Arun Jaitley
Finance Minister Arun Jaitley on Saturday said that defaulters will not be spared as the government will not write off any bad loans.
13 Dec 2015
PSU banks register 1,624 FIRs against wilful defaulters
As many as 1,624 First Information Reports (FIRs) have been filed with regard to wilful defaults.
12 Jun 2015
Economy recovering from serious challenges; expect banks to cut rate further: FM
Reserve Bank has cut repo rate by 0.75 percent since January but not all banks have passed on the benefit of lower interest rates to customers.
07 May 2015
RBI's new mechanism for banks to check loan frauds
The RBI on Thursday put in place a new framework to check loan frauds including by way of early warning signals at banks and red flagging of accounts, while swindlers will have no access to further banking finance.
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