Rs.1.53 lakh crore bad loan write-off gives a facelift to banks’ NPA profile
Posted Date : 14-Jun-2021 , 10:51:24 am | Posted By CASANSAAR
Indian banks have written off loans worth Rs 1.53 lakh crore in 2020-21 to show reduced non-performing assets (NPAs) on their books, calculations based on numbers released by individual banks showed. This is the second-highest amount of loans being written off in a financial year over the last decad...
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Supreme Court lifts blanket ban on NPA classification
Posted Date : 24-Mar-2021 , 09:07:10 am | Posted By CASANSAAR
The Supreme Court on Tuesday said the interim relief granted earlier to not declare the accounts of respective borrowers as non-performing assets stands vacated, ending the blanket ban on classification of non-performing assets (NPAs).
“However, there shall be no order as to costs,” t...
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SC protect accounts, which were not declared NPA till Aug 31
Posted Date : 04-Sep-2020 , 09:43:59 am | Posted By CASANSAAR
The Supreme Court Thursday directed that accounts, which were not declared as non-performing asset till August 31 this year, shall not be declared NPA till further orders.
A bench headed by Justice Ashok Bhushan said this while hearing a batch of pleas which have raised the issue of interest bein...
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FinMin writes to RBI for relaxing NPA norms for farm loan
Posted Date : 26-Mar-2020 , 11:05:36 am | Posted By CASANSAAR
The Finance Ministry has asked the Reserve Bank of India (RBI) to relax asset classification norms for farm loans extended by banks following the stress faced by the agriculture sector.
In a letter addressed to RBI Governor Shaktikanta Das, the Ministry said, “it is requested to consider ma...
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Public sector banks recover Rs 1.2 lakh Cr from bad loans in 2018-19
Posted Date : 25-May-2019 , 09:11:58 am | Posted By CASANSAAR
Public sector banks (PSBs) have recovered close to Rs 1.2 lakh crore from stressed assets during the financial ended March, primarily helped by resolution under the Insolvency and Bankruptcy Code (IBC), an official said.
During the first half of the previous fiscal, banks recovered Rs 60,713 cror...
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NCLAT allows banks to declare defaulting ILFS accounts as NPAs
Posted Date : 03-May-2019 , 09:44:48 am | Posted By CASANSAAR
The National Company Law Appellate Tribunal (NCLAT) on May 2 allowed the banks to declare as non-performing assets the accounts of IL&FS and its group companies that have defaulted on payments.
A bench headed by Chairman Justice S J Mukhopadhaya lifted the embargo on the banks to declare the ...
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SBI to auction 3 NPA accounts to recover Rs 2,111 crore dues
Posted Date : 03-Dec-2018 , 06:43:57 am | Posted By CASANSAAR
The country’s largest lender SBI has put up for sale three of its non-performing loan accounts to recover dues of Rs2,110.71 crore. An e-auction will take place on 13 December for the sale of these three accounts 0151 Sona Alloys Pvt Ltd, MCL Global Steel Pvt Ltd and Jayaswal Neco Industries.
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IBC cleared Rs 3 lakh Crore worth stressed assets
Posted Date : 26-Nov-2018 , 04:18:57 am | Posted By CASANSAAR
Ministry of Corporate Affairs (MCA) Secretary Injeti Srinivas said that the Insolvency and Bankruptcy Code (IBC) has an impact of around Rs 3 lakh crore on non-performing assets (NPAs).
Speaking to press after an event organised by the Federation of Indian Chambers of Commerce and Industry (FICCI...
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24 lenders sign an inter-creditor agreement for faster NPA resolutions
Posted Date : 25-Jul-2018 , 08:50:16 am | Posted By CASANSAAR
Two dozen lenders including State Bank of India and Punjab National Bank on Monday signed an inter-creditor agreement (ICA) to speed up the resolution process of stressed assets in the range of Rs 500 million to Rs 5 billion under consortium lending.
The ICA is to be signed by 22 public sector ba...
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FM to meet heads of banks to discuss NPA resolution structure
Posted Date : 05-Jul-2018 , 08:56:12 am | Posted By CASANSAAR
Finance Minister Piyush Goyal will meet heads of banks in New Delhi today to discuss an inter-lender structure suggested under the 'Project Sashakta' that intends to fastrack resolution of stressed assets in the banking system. Sources said the meeting has been organised by Indian Banks Asso...
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Government approaches RBI to relax NPA norms for MSMEs
Posted Date : 20-Apr-2018 , 10:25:06 am | Posted By CASANSAAR
The government has approached the Reserve Bank to relax norms for non-performing assets (NPAs) or bad loans in case of small and mid-sized businesses to help them tide over the cash crunch problem.
The MSME ministry has sought an extension of the NPA classification period from the current 9...
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Banks gross NPAs at Rs 8.41 lakh crore in December
Posted Date : 10-Mar-2018 , 09:19:56 am | Posted By CASANSAAR
The gross non-performing assets (NPAs) of all the banks in the country amounted to Rs 8,40,958 crore in December, led by industry loans followed by services and agriculture sectors, government said today.
The gross NPAs or bad loans of scheduled commercial banks as on December 31, 2017 due to loa...
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Financial bids for all 12 large NPA accounts by month-end - SBI
Posted Date : 11-Jan-2018 , 08:44:20 am | Posted By CASANSAAR
Country's largest lender State Bank of India (SBI) expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month, said the bank's top official.
SBI is the lead banker in 6 out of 12 large NPAs with total outstanding loan of Rs 1.75 lakh c...
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Banks gearing up to refer 24 of 28 large NPA accounts to NCLT
Posted Date : 03-Jan-2018 , 09:59:23 am | Posted By CASANSAAR
With the closure of RBI s deadline to resolve the 28 identified large stressed accounts in the second list, banks are gearing up to refer as many as 24 of them for insolvency proceedings.
In August, the Reserve Bank had asked banks to either resolve the 28 more large stressed accounts or re...
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Bill replacing IBC ordinance to allow promoters of insolvent companies more time to repay dues
Posted Date : 29-Dec-2017 , 11:12:51 am | Posted By CASANSAAR
The government will give promoters of insolvent companies more time to repay their dues and participate in the resolution process of bankrupt companies in the Bill that will replace the ordinance that was promulgated last month to amend the Insolvency and Bankruptcy Code (IBC), ET has learnt. The ch...
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Rising NPAs in education loan add to banks stress - IBA
Posted Date : 25-Dec-2017 , 07:46:17 am | Posted By CASANSAAR
Education loans too have started bleeding the banking sector with the default in repayment rising to 7.67 per cent of the outstanding amount at March-end, 2017 from 5.7 per cent two years ago. As per the data compiled by the Indian Banks' Association (IBA), the total outstanding education loan a...
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Gross NPAs of banks cross Rs 8.50 lakh crore in first half - MOS
Posted Date : 20-Dec-2017 , 08:09:04 am | Posted By CASANSAAR
Gross Non-performing Assets (NPAs) of banks crossed Rs 8.50 lakh crore at the end of September 2017, Minister of State for Finance Shiv Pratap Shukla informed the Lok Sabha.
"Reserve Bank of India (RBI) has informed that the growth in provisions for NPAs of Public Sector Banks (PSBs) i...
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Banks' bad loans could exceed Rs 20 Lakh Cr. - Ex RBI Dy Governor
Posted Date : 01-Mar-2017 , 08:26:45 am | Posted By CASANSAAR
The various projections of bad loans with the banking sector in India are only tips of the iceberg and the actual amount of problem assets of the banks could be more than thrice the figures put out bay banks and the banking sector regulator, says a former deputy governor of the Reserve Bank of India...
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PSU banks write off Rs 1.54 lakh crore bad loans
Posted Date : 07-Dec-2016 , 10:07:57 pm | Posted By CASANSAAR
Public sector banks (PSBs) have written off Rs 1.54 lakh crore of bad loans between April 2013 and June 2016, Parliament was informed today.
During 2013-14, all PSBs written off Rs 34,409 crore non-performing assets (NPAs). The amount increased further to Rs 49,018 crore in the following year.
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SC to examine disclosure of names in NPAs
Posted Date : 25-Oct-2016 , 08:10:31 am | Posted By CASANSAAR
The central government on Monday told the Supreme Court that anexpert committee it had appointed on non-performing assets will submitits report this month end and the court must hold its hand till then for furtherexamination of the problem which plagues the banking sector.
The court, howeve...
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SC asks FinMin to explain NPAs recovery mechanism
Posted Date : 27-Apr-2016 , 09:06:30 am | Posted By CASANSAAR
Supreme Court has asked Union Finance Ministry to inform it about the mechanism in place for recovery of huge Non-Performing Assets (NPAs). The apex court asked the ministry to inform as to what safeguards it is bringing in to curb bad debt. Supreme Court also observed that if the present system wou...
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Supreme Court seeks total NPAs, RBI says No
Posted Date : 13-Apr-2016 , 07:43:49 am | Posted By CASANSAAR
Even as the Supreme Court on Tuesday decided to examine whether the Reserve Bank of India can disclose names of big defaulters in view of its confidentiality claims, the banking regulator said any revelation about outstanding dues to banks will “impact the economy of the country”.
A...
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Plea to increase NPA time limit from three to six months
Posted Date : 20-Jan-2016 , 08:24:52 am | Posted By CASANSAAR
Representatives from the Micro, Small and Medium Enterprises on Monday appealed to the Reserve Bank of India and the government to enhance the loan default period from three to six months for declaration as non-performing asset (NPA).
Some of the entrepreneurs also sought reduction in interest ...
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RBI reviews NPAs, 5/20 rule with lenders
Posted Date : 19-Jan-2016 , 08:33:58 am | Posted By CASANSAAR
With an aim to cleanse bank balance sheets by FY17, the Reserve Bank of India is considering changes in norms to address the contentious issues of stressed assets in the banking system that is posing a big risk to reviving loan growth and the economy.
On Monday, RBI reviewed the ...
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Deloitte, KPMG, EY helping RBI in investigation of NPA cases
Posted Date : 27-Aug-2015 , 08:24:12 am | Posted By CASANSAAR
About a month ago, the Reserve Bank of India (RBI) received reports on forensic investigations it had ordered into the bad debt at two companies.
The RBI has never in the past hired private investigators or forensic experts to carry out such inspections — in these cases, to look for a...
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PSU Banks Plan to Sell Rs 2,700 Crore NPAs
Posted Date : 24-Aug-2015 , 09:39:27 pm | Posted By CASANSAAR
After a lull in asset sales markets in the past few quarters wherein state-run banks failed to dispose of their troubled loans, more such banks are planning to tap the ARCs this quarter.
City-based Union Bank of India, Karnataka-based Corporation Bank and Bank of Maharashtra today said they are p...
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Early Warning System to Detect NPAs
Posted Date : 31-Jul-2015 , 09:40:59 pm | Posted By CASANSAAR
State Bank of India (SBI) is in the process of putting in place a system of early warning signals to monitor performing of standard assets showing early signs of stress. Early Warning System (EWS) is a solution to identify borrowers in the bank’s portfolio showing early signs of stress and ena...
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PNB identifies 400 wilful defaulters; to sell Rs 3,000 crore NPAs
Posted Date : 29-Jul-2015 , 07:12:16 am | Posted By CASANSAAR
Saddled with bad loans, PNB on Tuesday said it has reported to RBI 400 'wilful defaulters', and plans to sell Non Performing Assets worth up to Rs 3,000 crore to ARCs in the current fiscal.
"400 accounts are there (wilful defaulters) which we have reported to RBI so that it (list) ca...
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An account becoming NPA is not a SIN - RBI to Banks
Posted Date : 12-Jun-2015 , 08:37:41 am | Posted By CASANSAAR
Reserve Bank of India has made a case for developing better strategies to deal with the problem of bad loans as hiding them would aggravate the situation for the banks as well as borrowers.
"An account becoming NPA is not a sin. The time has come that it would be a better strategy that if ...
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Deadline on incentives for early sale of NPAs extended
Posted Date : 22-May-2015 , 08:13:23 am | Posted By CASANSAAR
The Reserve Bank of India had incentivised lenders for early recognition and sale of non-performing assets (NPAs) by saying the shortfall between the sale value and the net book value can be spread over a period of two years.
This facility was earlier available only for NPAs s...
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