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What is loan write-off? Read details
Business

What is loan write-off? Read details

The loan can be written off if it becomes bad on the account of the repayment defaults for at least 3 consecutive quarters.

SBI fourth quarter net profit jumps 41% to Rs 9,114 crore
Business

SBI fourth quarter net profit jumps 41% to Rs 9,114 crore

The gross NPAs of the bank declined to 3.97 per cent of gross advances as on 31 March, 2022, as against 4.98 per cent by the same period of 2021

Centre unlikely to announce capital infusion for PSU banks in Budget 2022-23
Business

Centre unlikely to announce capital infusion for PSU banks in Budget 2022-23

Finance Minister Nirmala Sitharaman is expected to present the fourth budget of the Modi 2.0 government on 1 February

Nirmala Sitharaman lays out 'bad bank' blueprint, approves Rs 30,600-crore govt guarantee
Politics

Nirmala Sitharaman lays out 'bad bank' blueprint, approves Rs 30,600-crore govt guarantee

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

Union Budget 2021: Banks should not escape cost incurred by system due to bad loans
India

Union Budget 2021: Banks should not escape cost incurred by system due to bad loans

The key to the efficient functioning of a bad bank is that it should never be looked at as a funding institution where bad loans are routinely transferred

A year after PMC Bank scam, RBI says NPAs rise in urban co-operative banks, losses balloon up
Business

A year after PMC Bank scam, RBI says NPAs rise in urban co-operative banks, losses balloon up

The Reserve Bank of India said the quantum of gross NPAs in the 1,539 UCBs increased to Rs 33,010 crore at end-FY20 from Rs 22,093 crore a year ago

Nirav Modi won't get fair trial in India, former SC judge Markandey Katju tells UK court
India

Nirav Modi won't get fair trial in India, former SC judge Markandey Katju tells UK court

Katju also repeatedly made comparisons between India and Germany under the Nazi regime, saying Nirav Modi has been made a convenient scapegoat for India's economic crisis

India among large emerging market sovereigns to have highest debt burden by 2021, says Moody's
Business

India among large emerging market sovereigns to have highest debt burden by 2021, says Moody's

Despite steps toward the resolution of high non-performing loans, the banking system continues to suffer from weak asset quality, and low loan-loss coverage and capital adequacy, it added

Only way a bank can survive is by growing or else NPAs will become unmanageable: KV Kamath tells Network18
India

Only way a bank can survive is by growing or else NPAs will become unmanageable: KV Kamath tells Network18

The interest rates have started dropping, but they need to drop even further if the banks have to come around without too much pain, veteran banker KV Kamath tells Network18 Group Editor-in-Chief Rahul Joshi in an exclusive interview.

IDBI Bank shares rally 20% after lender posts net profit of Rs 135 cr in March quarter
Business

IDBI Bank shares rally 20% after lender posts net profit of Rs 135 cr in March quarter

IDBI Bank shares on Monday zoomed 20 percent to its highest trading permissible limit for the day after the company posted a profit of Rs 135 crore in the quarter ended March

Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch Ratings
Business

Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch Ratings

With incremental bank lending making up the bulk of the government's nearly Rs 21 lakh crore stimulus package, lenders face significant asset quality challenges which can increase their dud loan ratios by up to 6 percentage points over the next two years, warns a report

One year of Narendra Modi Sarkar sequel: 10 wins and defeats worth considering
Politics

One year of Narendra Modi Sarkar sequel: 10 wins and defeats worth considering

In many ways the Modi Sarkar 2.0 shouldn’t have had the blood, sweat and tears of the most vulnerable people it is meant to serve.

RBI board member Satish Marathe says stimulus package fails to involve banks as frontline warriors in economic revival
Business

RBI board member Satish Marathe says stimulus package fails to involve banks as frontline warriors in economic revival

The stimulus package announced by Finance Minister Nirmala Sitharaman "fails to involve" banks in the economic revival process, a member of the Reserve Bank of India's central board said on Wednesday

Yes Bank scam: ED arrests DHFL promoters Kapil Wadhawan, brother Dheeraj for money laundering
Business

Yes Bank scam: ED arrests DHFL promoters Kapil Wadhawan, brother Dheeraj for money laundering

The Wadhawans are presently in jail after being arrested by the Central Bureau of Investigation (CBI), which is also probing the same case.

Kotak Mahindra Bank Q4 net profit down 4% to Rs 1,952 cr; bad loans marginally up at 2.25%
Business

Kotak Mahindra Bank Q4 net profit down 4% to Rs 1,952 cr; bad loans marginally up at 2.25%

Kotak Mahindra Bank on Wednesday reported 4 percent decline in consolidated net profit at Rs 1,951.82 crore for the fourth quarter ended March 2020 due to COVID-19 related provisions

RBL Bank net profit declines 54% to Rs 114 cr in March quarter; bad loan provisions spike manyfold
Business

RBL Bank net profit declines 54% to Rs 114 cr in March quarter; bad loan provisions spike manyfold

RBL Bank on Thursday reported a 54 percent decline in its net profit to Rs 114 crore for the March 2020 quarter, as the provisioning for bad loans spiked manyfold

Micro enterprises best placed to help economy come out of COVID-19 crisis; eligible to get financial aid from credit institutions: Report
Business

Micro enterprises best placed to help economy come out of COVID-19 crisis; eligible to get financial aid from credit institutions: Report

The state-run lenders gained market share in 2019, adding that public sector banks now account for 49% of the MSME lending and over 59% of the lending to the micro enterprises.

Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report
Business

Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report

State-owned banks' non-performing loans are likely to rise by 2-4 percentage points, which will put up to $15 billion recapitalisation pressure on the government in FY21, a foreign brokerage firm said on Tuesday

Bad loans of Bank of Baroda, Indian Bank surge multi-fold in six years: RTI data
Business

Bad loans of Bank of Baroda, Indian Bank surge multi-fold in six years: RTI data

Non-performing assets of Bank of Baroda soared more than six-fold to Rs 73,140 crore while those of Indian Bank surged four-times to Rs 32,561.26 crore in six years, according to a Right to Information reply