SBI classifies MTNL loan accounts as sub-standard NPA: Report
Mumbai: State Bank of India has classified the loan accounts of debt-laden state-owned MTNL as sub-standard non-performing assets due to missed payments of instalments and interest since June 30, according to a regulatory filing by the telecom firm, media reports said.
‘Seeds’ of the NPA crisis sown during UPA regime, IBC addressed the issue effectively: Sitharaman
New Delhi: The ‘seeds’ of the NPA crisis were sown during the Congress-led UPA era through ‘phone banking’, when loans were given to undeserving businesses under pressure from UPA leaders and party functionaries. Banks were forced to neglect proper due diligence and risk assessment before sanctioning these loans, Finance Minister Nirmala Sitharaman said on X.
Banking sector set to achieve best asset quality; Net NPAs to drop to best level in over a decade
New Delhi: The banking sector is set to achieve its best asset quality in over a decade this fiscal year, with headline gross NPAs and net NPAs declining to 2.63% and 0.83% respectively in March 2023, according to Moody's and Icra Ratings, reported media.
Public sector banks recovered 14% of written-off loans in last 5 years: FM Sitharaman
New Delhi: Public sector banks could get back only 14 percent of the written-off loans in the last five years ending March 2022, Parliament was informed on Tuesday.
Bandhan Bank sells bad loans worth Rs 8,897 cr to ARC
Mumbai/IBNS: Bandhan Bank on Friday announced the sale of its stressed loans, worth Rs 8,897 crore, to an asset reconstruction company (ARC) for Rs 801 crore.
UCO Bank Q4 results: Net profit jumps three-fold to Rs 312 cr, dividend remains undeclared
Kolkata/IBNS: The 95 percent state-owned UCO Bank registered a net profit jump of 290 percent to Rs 312 crore in the quarter ended March 2022 as against Rs 80 crore in quarter ended March 2021.
Recovery by PSBs as percentage of NPAs improves to 14.69% in FY2019-20
New Delhi: As per Reserve Bank of India (RBI) data, the recovery made by public sector banks (PSBs) during the financial year as a percentage of gross non-performing assets (NPAs) as on beginning of the financial year (FY) has improved from 11.33 percent in FY2017-18, to 13.52 percent in FY2018-19, to 14.69 percent in FY2019-20.
PHDCCI welcomes JK Bank's OTS scheme
Srinagar/IBNS: PHD Chamber of Commerce and Industry's (PHDCCI) Jammu & Kashmir chapter welcomed the J&K Bank’s Special One Time Settlement (OTS) scheme for non-performing assets NPAs.
PSU Banks' Gross NPAs drop to 6.9 pc in Sept 2021 against 8.2 pc in March 2020: RBI report
Mumbai/IBNS: The gross non-performing assets (NPAs) of scheduled commercial banks (SCB) as reduced to 6.9 percent at the end of September 2021 from 7.3 percent at the end of March 2021, the Reserve Bank of India said in its report on Trend and Progress of Banking in India 2020-21.
RBI's one-time loan restructuring plan plugs the past gaps: Experts
Kolkata/IBNS: The current loan restructuring package by the Reserve Bank of India(RBI) with proper timelines mentioned in the guidelines has plugged all the gaps that were there previously, said Partha Pratim Sengupta, Managing Director & CEO, Indian Overseas Bank.
Study forecasts gross NPAs to rise to Rs 9.5 lakh crore by March ’18
Mumbai, Jan 22 (IBNS): With Indian banking sector currently under stress, gross NPAs are expected to rise from March 2017 level of Rs 8 lakh crore to Rs 9.5 lakh crore as on March 31, 2018 i.e. about 10.5 per cent of total advances, while stressed assets are expected to be at Rs 11.5 lakh crore, noted a just-concluded ASSOCHAM-Crisil joint study.
Rs. 8 Lakh crore NPAs likely to undergo bankruptcy proceedings by March 2019: ASSOCHAM
New Delhi, June 17 (IBNS): Emboldened by the Banking Regulation (Amendment) Ordinance, RBI is expected to put bad loans worth about Rs 8 lakh crore for resolution by March 2019, a move that could bring down the non-performing assets (NPAs) to acceptable level and significantly improve the financial health of banks as well, a study done by ASSOCHAM said.
Set up stressed assets funds for NPA resolution: ASSOCHAM
New Delhi, May 7 (IBNS): While lauding the resolute steps being taken by the government and the Reserve Bank of India to tackle the stressed assets in the banking system, the ASSOCHAM has suggested also creation of Stressed Assets Funds (SAFs) with active participation of the cash rich public sector firms to turn non-performing assets (NPAs) into the performing assets.
Budget 2017: Income tax for MSMEs with annual turnover upto Rs. 50 Crore is reduced to 25 per cent
New Delhi, Feb 1 (IBNS): Presenting the General Budget 2017-18 in Parliament on Wednesday, Union Finance Minister Arun Jaitley said that the income tax for smaller companies with annual turnover upto Rs. 50 crore is reduced to 25% in order to make MSME companies more viable and also to encourage firms to migrate to company format.