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Bad loans crisis: Nearly 24 lenders sign new NPA resolution framework under Project Sashakt
Business

Bad loans crisis: Nearly 24 lenders sign new NPA resolution framework under Project Sashakt

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.

Bank bailout using taxpayers' money is not an ideal situation, says Finance minister Arun Jaitley
Business

Bank bailout using taxpayers' money is not an ideal situation, says Finance minister Arun Jaitley

Reckless lending by banks during the boom years in the previous UPA government led to accumulation of huge non-performing assets (NPAs), or bad loans, in the Indian banking system.

Lenders, borrowers cannot have exposure of over Rs 10 lakh on P2P platforms: RBI
Business

Lenders, borrowers cannot have exposure of over Rs 10 lakh on P2P platforms: RBI

The Non-Banking Financial Company Peer to Peer Lending Platform (Reserve Bank) Directions, 2017, have come into force with immediate effect.

SC asks Jaypee to deposit Rs 2,000 cr, directs IRP to protect homebuyers, creditors' interests
Business

SC asks Jaypee to deposit Rs 2,000 cr, directs IRP to protect homebuyers, creditors' interests

Around 32,000 persons had booked flats in the projects of Jaypee Infratech.

Sebi eases rules for lenders buying stake in distressed cos
Business

Sebi eases rules for lenders buying stake in distressed cos

Sebi exempting lenders from making open offers for shareholders

UDAY no panacea, pushed states' fiscal deficit by 0.7%, says Economic Survey
Business

UDAY no panacea, pushed states' fiscal deficit by 0.7%, says Economic Survey

Unless states make timely revision of tariff, the problem of losses and debts of discoms may not be resolved.

Lenders approve Rs 86,000-crore Essar Oil sale to Rosneft
Business

Lenders approve Rs 86,000-crore Essar Oil sale to Rosneft

With this Rs 86,000-crore transaction, which makes it the largest FDI inflow for the country, the company hopes to close the deal by early next month, Essar group sources said.

Tackling NPAs: Sebi relaxes norms for lenders buying stake in distressed companies
Business

Tackling NPAs: Sebi relaxes norms for lenders buying stake in distressed companies

The Sebi decision comes against the backdrop of the government and Reserve Bank of India stepping up efforts to tackle the menace of bad loans, amounting to Rs 6 lakh crore

Reliance Communications tells lenders: Will clear Rs 25,000 cr debt by 30 Sep
Business

Reliance Communications tells lenders: Will clear Rs 25,000 cr debt by 30 Sep

RCom posted a loss of Rs 948 cr in March quarter compared to a net profit of Rs 79 cr in the year-ago period

New NPA package for banks makes RBI more powerful; it's a move in the right direction
Business

New NPA package for banks makes RBI more powerful; it's a move in the right direction

For the bankers, RBI becoming party to NPA decision is good. They can cast aside the fear of being hunted by vigilance department for taking a high hair cut. That will be RBI's headache.

Mallya's Kingfisher Villa to be auctioned by banks next month at Rs 85 cr reserve price
Business

Mallya's Kingfisher Villa to be auctioned by banks next month at Rs 85 cr reserve price

The Villa, owned by United Breweries Holding (UBHL), was mortgaged by KFA to SBI-led 17-bank consortium to obtain loans in 2010

SDR is fine, but RBI can also look at escrow account mechanism to bring down NPA levels
Business

SDR is fine, but RBI can also look at escrow account mechanism to bring down NPA levels

Roughly, 30% of direct taxes collections are through TDS which is almost fool-proof

Sensex gains 69 pts in volatile trades; Re rebounds 18 paise
Business

Sensex gains 69 pts in volatile trades; Re rebounds 18 paise

Despite a mild recovery in key share indices, market breadth remained weak with 1,279 stocks declining against 714 advances on BSE

Private bank shares pile up smart gains on govt nod to raise foreign holding
Business

Private bank shares pile up smart gains on govt nod to raise foreign holding

Private banking shares advanced sharply on the bourses rising over 1-4.5 percent each

Loan recast boost: Bhushan Steel stock hits 20% upper circuit in lacklustre market
Business

Loan recast boost: Bhushan Steel stock hits 20% upper circuit in lacklustre market

In one month, Bhushan Steel stock tumbled 23 percent while taking a hit of 25 percent since the beginning of 2015

Lenders invoke shares pledged by Bhushan Steel to raise Rs 300 cr
Corporate

Lenders invoke shares pledged by Bhushan Steel to raise Rs 300 cr

The stock has nosedived about 70 percent over the last one year, when financial stress on the company came to light

RBI issues proposals for lenders' counter cyclical buffers
Money

RBI issues proposals for lenders' counter cyclical buffers

In its final report, the central bank panel also recommended that bad loans, credit to gross domestic product ratio and incremental credit deposit ratio be used as indicators to decide the counter cyclical capital buffer.<br />

HDFC bank Q4 results disappoint, slowest growth in over a decade
India

HDFC bank Q4 results disappoint, slowest growth in over a decade

India's slowed economic growth has led to a decline in credit and a rise in bad debts, factors which analysts expect will weigh on the profitability of the banking sector this fiscal year.

Banks decide to start recovery of Kingfisher loans
Business

Banks decide to start recovery of Kingfisher loans

Kingfisher lenders today finally decided to start the recovery process for Rs 7,500-crore loans given to the grounded airline, a top official of State Bank of India said today.

Lenders will give all chances to KFA to restart ops: SBI
Business

Lenders will give all chances to KFA to restart ops: SBI

Kingfisher lenders will give all chances to the grounded airline to restart operation even as bankers are concerned over their outstanding dues, SBI Chairman Pratip Chaudhuri said today.