Bad Loans

Google took action against over 3,500 loan apps in India in 2022 for violating Play Store policy requirements, the company said on Thursday. Google said that overall it prevented 1.43 million policy-violating apps from being published on Google Play banning 1,73,000 bad accounts preventing over $2 billion (nearly Rs. 16,350 crore) in fraudulent and...

"We cannot have a system where we have a 20% growth year-on-year on MSME and retail and then an NPA (ratio) which will remain below 1% for retail," Ashwini Kumar Tiwari, managing director at State Bank of India said.

Yes Bank reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased.

Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday.

RBI has informed that borrower-wise information on written off loan accounts is not maintained by it, Minister of State for Finance Bhagwat Karad said.

The deal, the largest sale of bad loans in the Indian banking sector yet, comes more than two years after the central bank stepped in to take control of the lender after a dramatic rise in toxic assets alarmed investors and depositors.

"We have saved Indian bank from 3 lakh crore NPAs," Road Transport and Highways Minister Nitin Gadkari told the members.

"Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards," Nirmala Sitharaman said.

State-owned Bank of Baroda on Saturday reported a jump of 59 per cent in its net profit to Rs 3,313 crore for the second quarter ended September on the back of a decline in bad loans and rise in interest income.

State Bank of India (SBI) on Saturday said its standalone profit jumped 74 per cent to Rs 13,265 crore in the second quarter of FY23, aided by lower bad loans and higher interest income.

India's Yes Bank said on Saturday its profit fell in the July-September quarter as it set aside more provisions for bad loans recorded in previous quarters.

Indian private lender IndusInd Bank reported a bigger-than-expected jump in second-quarter profit on Wednesday, lifted by strong loan growth and a drop in provisions for bad loans.

The bank accumulated a total of Rs 1,29,088 crore worth of bad debt from FY11-12 to FY21-22.

The banks are likely to see a 90 basis points fall in gross non-performing assets (NPAs) to 5% in this fiscal year to March and further improve to 4% by end of March 2024, rating agency Crisil said on Wednesday.

Share price of IDBI Bank surged by around 7 per cent on Friday after the company's top executive expressed hope that the lender may recover around one-fourth of nearly Rs 78,000 crore of bad loans and the government is likely to speed up privatisation process.

Google took action against over 3,500 loan apps in India in 2022 for violating Play Store policy requirements, the company said on Thursday. Google said that overall it prevented 1.43 million policy-violating apps from being published on Google Play banning 1,73,000 bad accounts preventing over $2 billion (nearly Rs. 16,350 crore) in fraudulent and...

"We cannot have a system where we have a 20% growth year-on-year on MSME and retail and then an NPA (ratio) which will remain below 1% for retail," Ashwini Kumar Tiwari, managing director at State Bank of India said.

Yes Bank reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased.

Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday.

RBI has informed that borrower-wise information on written off loan accounts is not maintained by it, Minister of State for Finance Bhagwat Karad said.

The deal, the largest sale of bad loans in the Indian banking sector yet, comes more than two years after the central bank stepped in to take control of the lender after a dramatic rise in toxic assets alarmed investors and depositors.

"We have saved Indian bank from 3 lakh crore NPAs," Road Transport and Highways Minister Nitin Gadkari told the members.

"Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards," Nirmala Sitharaman said.

State-owned Bank of Baroda on Saturday reported a jump of 59 per cent in its net profit to Rs 3,313 crore for the second quarter ended September on the back of a decline in bad loans and rise in interest income.

State Bank of India (SBI) on Saturday said its standalone profit jumped 74 per cent to Rs 13,265 crore in the second quarter of FY23, aided by lower bad loans and higher interest income.

India's Yes Bank said on Saturday its profit fell in the July-September quarter as it set aside more provisions for bad loans recorded in previous quarters.

Indian private lender IndusInd Bank reported a bigger-than-expected jump in second-quarter profit on Wednesday, lifted by strong loan growth and a drop in provisions for bad loans.

The bank accumulated a total of Rs 1,29,088 crore worth of bad debt from FY11-12 to FY21-22.

The banks are likely to see a 90 basis points fall in gross non-performing assets (NPAs) to 5% in this fiscal year to March and further improve to 4% by end of March 2024, rating agency Crisil said on Wednesday.

Share price of IDBI Bank surged by around 7 per cent on Friday after the company's top executive expressed hope that the lender may recover around one-fourth of nearly Rs 78,000 crore of bad loans and the government is likely to speed up privatisation process.