RBI says banks must start bankruptcy proceedings against 12 major defaulters responsible for 25% of bad loans
The Reserve Bank of India (RBI) has identified 12 of the country`s biggest loan defaulters and said creditors must pursue bankruptcy proceedings against them, as it begins to cut the USD 150 billion in stressed debt hobbling Asia`s third-largest economy.
Jun 14, 2017, 14:08 PM IST
Banks need Rs 95K crore capital, stressed assets to rise: Moody's
Stressed assets of Indian banks will increase through 2019 and capitalisation will remain a key credit weakness for state-owned lenders which will need up to Rs 95,000 crore additional capital over the next two years.
Jun 08, 2017, 15:42 PM IST
RBI refuses to disclose list of loan defaulters
The Reserve Bank of India (RBI) has refused to make public the list of loan defaulters with public sector banks despite an order of the Supreme Court in 2015 to make this information public.
May 23, 2017, 15:51 PM IST
Stake dilution in PSBs after their health improves: FM
This fiscal, the government has budgeted Rs 10,000 crore of capital infusion in public sector banks.
May 08, 2017, 12:42 PM IST
War on NPAs to speed up PSBs' capital raising via FPOs
The government's all out war against NPAs will help in cleaning balancesheets of state- owned banks and expedite fund raising via markets to meet the global Basel III capital adequacy norms, an official said.
May 07, 2017, 16:10 PM IST
Govt appoints heads of 7 PSU banks; MDs of PNB, BoI shifted
PNB MD Usha Ananthasubramanian has been shifted to relatively small Kolkata-based Allahabad Bank while head of Bank of India Melwyn Rego will move to Syndicate Bank with immediate effect.
May 06, 2017, 10:25 AM IST
India to clock 7.1% GDP this year, 7.5% in 2018: UN report
Inflation is projected to reach 5.3-5.5 percent in 2017 and 2018, which is somewhat above the official target of 4.5-5 percent.
May 02, 2017, 13:21 PM IST
Govt keen to push ahead with more PSB consolidation
Fresh from the successful merger of five associates with SBI, the government is looking to consolidate more public banks going forward, with an aim to create only a few lenders of global size and scale.
Apr 30, 2017, 11:10 AM IST
RBI governor suggests merging public sector banks
Reserve Bank Governor Urjit Patel says that merging public sector banks and having fewer of them would be better for the sector and also help deal with problem of non-performing assets (NPA).
Apr 25, 2017, 12:03 PM IST
RBI's PCA norm for greater regulatory action on banks: Fitch
The RBI has tightened the thresholds -- for capital ratios, NPLs, profitability and leverage - at which banks enter the PCA framework.
Apr 20, 2017, 16:42 PM IST
Govt asks PSBs to finalise next wage revision before Nov 1
The finance ministry has asked the heads of public sector banks to finalise the modalities for timely implementation of the next pay revision from November.
Apr 09, 2017, 13:23 PM IST
Parliamentary panel wants banks to devise mechanism to detect NPAs early
Concerned over high level of bad loans in the banking system, a parliamentary panel has asked PSU banks to devise a mechanism to detect stressed assets early so that urgent corrective steps can be taken.
Apr 04, 2017, 16:00 PM IST
Govt approves second tranche of capital infusion in PSU banks
The government has approved the second tranche of capital infusion in public sector banks to enhance their capital base.
Mar 17, 2017, 21:59 PM IST
NPA formation showing declining trend in March quarter: FM Jaitley
The rate of rise in bank's non- performing assets has slowed down in the March quarter and the steel sector has started showing signs of improvement, Finance Minister Arun Jaitley said on Wednesday.
Mar 15, 2017, 17:32 PM IST
Govt asks SBI to reconsider imposing penalty on non-maintenance of minimum balance
Government on Monday asked SBI to reconsider imposing penalty on non-maintenance of minimum balance and cash withdrawal charges from April 1, PTI reported quoting sources.
Mar 06, 2017, 20:01 PM IST
SBI to hike minimum balance for savings a/c; hit 31 crore people
State Bank of India has decided to increase manifold the minimum balance required for maintaining savings account from April 1, hitting 31 crore depositors including pensioners and students.
Mar 06, 2017, 18:46 PM IST
Exit non-core businesses: Finance Ministry advises public sector banks
As part of capital raising exercise, the Finance Ministry has advised state-owned banks to prepare a list of their non-core assets and look at disposing them at opportune time.
Mar 02, 2017, 17:24 PM IST
India's economic, political systems yet to mature: CEA Arvind Subramanian
Economic and political systems in India have "not developed maturity" for nuanced interventions and tend to take recourse to bans and restrictions, Chief Economic Advisor Arvind Subramanian said on Thursday.
Mar 02, 2017, 15:32 PM IST
Why have Bank Unions called for strike – Know here
Services like cash deposits and withdrawal from branches and cheque clearances have been hit hard by the strike, which has been called under the aegis of the United Forum of Bank Unions (UFBU).
Feb 28, 2017, 13:07 PM IST
Bank employees go on strike; cash deposits, cheque clearances, withdrawal services hit hard
Services like cash deposits and withdrawal from branches and cheque clearances have been hit hard by the strike, which has been called under the aegis of the United Forum of Bank Unions (UFBU).
Feb 28, 2017, 09:09 AM IST
