Banking Sector

24 Banks Sign Pact On Bad Loan Resolution Framework

Business | Press Trust of India | Monday July 23, 2018

The inter-creditor agreement will serve as a platform for banks and financial institutions, which are fighting a toxic mount of bad loans that is sniffing at 12 per cent of the system now, to come together and take concerted efforts towards resolving dud loans under Rs 500 crore.

Over 20 Banks Sign Agreement For Faster Resolution Of Bad Loans: Report

Business | Thomson Reuters | Monday July 23, 2018

A government-appointed panel this month proposed the so-called inter-creditor agreement among other measures after criticism that at times smaller lenders in a lending consortium were creating roadblocks for speedier resolution.

Opinion: Banking Crisis Worsens, Modi Government To Blame - By Yashwant Sinha

Opinion | Yashwant Sinha | Tuesday July 3, 2018

There is no end to bad news from the banking sector of our economy. That it has not been in good health for some years was well known, but further evidence of its very poor health became public when it was disclosed a few days ago that the public sector banks have together suffered a whopping loss of 8,50,370 crore in financial year 2017-2018 compa...

Government Should Simplify GST To Sustain High Growth Rate, Suggests IMF

Business | Press Trust of India | Friday June 29, 2018

India's growth accelerated to 7.7 per cent in the fourth quarter of Financial Year (FY) 2017-18.

IMF Advises 3 Steps For India To Sustain Its High Growth Rate

India News | Press Trust of India | Friday June 29, 2018

To sustain the high growth rate India has achieved, the country should carry out banking sector reforms; continue with fiscal consolidation, simplify and streamline GST; and renew impetus on reforms, the International Monetary Fund or IMF said today.

11 PSU Bank Chiefs Chalk Out Roadmap To Deal With Bad Loans: Report

Business | Press Trust of India | Tuesday June 26, 2018

The banking sector is grappling with rising NPAs, which touched Rs 8.99 lakh crore or 10.11 per cent of total advances at December-end 2017.

NPA Crisis: 11 PSU Bank Chiefs To Appear Before Parliamentary Panel

Business | Indo-Asian News Service | Sunday June 24, 2018

The accumulated NPAs in the Indian banking system have touched Rs 9 lakh crore.

PNB Shares Fall After Internal Probe Finds Widespread Lapses

Business | Thomson Reuters | Thursday June 21, 2018

PNB shares were down 2.7 percent and trading at 83.95 rupees at 11.41 am, underperforming both the broader Nifty index and the banking sector index.

Opinion: Bad Bank Politically Expedient Before 2019 Polls, But A Bad Idea

Business | Andy Mukherjee, Bloomberg Opinion | Tuesday June 12, 2018

The proposal to set up a bad bank looked senseless even when it was first mooted in early 2016. It looked downright silly when the finance ministry floated the idea of raiding the central bank's reserves to run the rehab clinic for toxic debt.

As Public Sector Banks Stare At Bad Loans Woes, Bouquet Of Solutions Need Of The Hour, Suggest Experts

Business | Sunday June 3, 2018

SBI's provision for bad loans stood at Rs 24,080 crore and PNB's at Rs 20,353 crore for the quarter under review.

Surprise Twist In Karnataka Elections Deflates Sensex Rally: 10 Points

Business | NDTV Profit Team | Tuesday May 15, 2018

The Sensex and Nifty ended flat today amid uncertainty over government formation in Karnataka. Though the BJP has emerged as the biggest party in the Karnataka elections, it is still short of majority, according to the latest trends. The Congress is making a bid to form a coalition government and has quickly arrived at an understanding with former ...

Fear Psychosis Among Banks Pushing Companies Into Liquidation: Report

Business | Anto Antony, Bloomberg | Tuesday May 8, 2018

Current and former top bankers from at least four state-run lenders are under investigation for alleged impropriety over their lending decisions, while the Central Bureau of Investigation has started a preliminary inquiry into an alleged nexus between Videocon Chairman Venugopal Dhoot and the spouse of ICICI Bank Ltd.

Third-Largest Economy "Systematically Dismantled" Says Manmohan Singh

Karnataka News | Reported by Maya Sharma, Edited by Anindita Sanyal | Monday May 7, 2018

Former Prime Minister Manmohan Singh, one of the world's best known economists, today accused the Narendra Modi government of 'systematically dismantling" Indian economy, the third largest in the world. The " virtuous intentions" of the Narendra Modi government has caused the country massive losses due to "lack of reasoning and analysis", he told t...

Spike In Withdrawals, Not Enough Deposits Caused Cash Crunch, Data Shows

India News | Edited By Aloke Tikku | Wednesday April 18, 2018

A spike in cash withdrawals from banks over the last fortnight that people did not deposit into the banking sector has contributed to the cash crunch faced in several parts of the country, official statistics accessed by NDTV has indicated. This increase, finance ministry officials said, had led to a mismatch between the availability of cash and de...

RBI Governor Asked To Appear Before Parliamentary Panel On Bank Scams

India News | Edited by Debanish Achom (with inputs from PTI) | Tuesday April 17, 2018

A parliamentary panel has asked Reserve Bank of India Governor Urjit Patel to appear before it on May 17 to clarify on recent banking scams, people familiar with the matter said. The standing committee on finance, headed by Congress leader M Veerappa Moily, today raised queries about the banking sector with financial services secretary Rajiv Kumar