RBI grants licence to National Asset Reconstruction Company, announces Indian Banks’ Association CEO
This move that will help kickstart operations of the bad bank. NARCL was incorporated in July in Mumbai following registration with the Registrar of Companies (RoC)
The bad bank or NARCL will pay up to 15 percent of the agreed value for the loans in cash and the remaining 85 percent would be government-guaranteed security receipts
CEA asks govt to end forbearance window for borrowers, pitches for setup of 'bad bank' to deal with NPAs
A bad bank is a financial institution that takes over bad assets of lenders and undertakes resolution. Lenders have been making a case for a bad bank to ease pressure of bad loans in these difficult times
Coronavirus crisis: Major lenders revive idea of 'bad bank' to deal with high NPAs; 'this is right time to work it out', says SBI CMD Rajnish Kumar
Rajnish Kumar said that the idea of bad bank was not feasible three years ago, when talk began that banks should spin off bad assets into a separate company to unburden existing banks.
ICA to aid banks, financial institutions fighting bad loans that are sniffing at 12 percent of the system, to take concerted efforts towards resolving dud loans under Rs 500 crore.
Project Sashakt: Creating a bigger bad asset market is a good idea; but who will do the bankrolling?
Project Sashakt's success hinges on the Modi government's ability to push out a scheme that can generate sufficient investor interest.
State Bank of India (SBI) chairman Rajnish Kumar, who is a member of the panel formed to give recommendations for setting up a state-run bad bank, on Thursday said they will soon submit the report to the finance ministry
The formation of a bad bank will be a bigger burden on taxpayers, already helping the Centre recapitalise PSBs
Industry body CII on Tuesday said it supports the 'bad bank' idea mooted by interim finance minister Piyush Goyal, while stressing that banks' balance sheets need cleanup before the start of a new credit cycle
How can creation of an official asset reconstruction company make a dent into the problem of NPA especially when we have Insolvency and Bankruptcy Code 2015 already seized of the problem.
Armed with a new mandate as a champion of the poor, Modi still faces a struggle to implement reforms to boost growth and jobs in Asia's third-largest economy, say experts.
Jaitley said that the core problem of NPAs was with "very large corporates", predominantly in the steel, power, infrastructure and textile sectors
Various proposals are being brought to forefront, Arvind Subramanian said, adding, "there is a need to get that (bad bank) thing quickly".
The Indian government is looking for ways to reduce banks' distressed debt pile of $120 billion, or 11.5 percent of all loans
The forthcoming Budget is likely to set out a clear agenda for revival of banking sector, including setting up of a 'bad bank' and an aggressive roadmap for recapitalisation, SBI Research said in a note today.