Economy – Page 10 of 15 – Career Heights ... an online portal of Khare & Associates..

Bank loans worth ₹5-lakh cr turned into NPAs in FY18: Crisil

MUMBAI, JUNE 5

As much as ₹5-lakh crore of bank loans deteriorated into the non-performing asset (NPA) category in fiscal 2018, according to credit rating agency Crisil.

But the tide seems to be turning, given the sharp reduction in SMA (special mention account)-2 cases and better NPA recovery prospects, it added. An SMA-2 account is a stressed account where the principal or interest payment or any other amount, wholly or partly, is overdue between 61 and 90 days.

Crisil said the total slippages in the past three fiscals amounted to ₹13.6-lakh crore.

It assessed that about a fifth of the slippages last fiscal (FY2018) was due to the withdrawal of various structuring schemes by the RBI in February 2018 after the Insolvency and Bankruptcy Code (IBC) process came into force.
As a result, gross NPAs increased to about ₹10.3-lakh crore, or about 11.2 per cent of advances, as on March 31, 2018, compared with ₹8-lakh crore, or about 9.5 per cent of advances, as on March 31, 2017.

SBI alerts branches of Iran, Russia pitfalls

The country’s largest lender State Bank of India has alerted all its offices on the pitfalls of dealing with companies carrying out trade with Russia and Iran which are battling US sanctions.

India’s forex reserves at a life-time high of $426.082 billion

India’s forex reserves expanded by $1.217 billion to 426.082 billion in the week to 13 April, Reserve Bank of India (RBI) has said.The Reserve Bank of India. India’s forex reserves crossed the $400-billion mark for the first time in the week to 8 September 2017, but have since been fluctuating.

India shuts down Bitcoins, other virtual currencies, prohibits any dealing with banks

The Reserve Bank of India on Thursday barred banks and financial institutions from dealing with virtual currencies including Bitcoins and said that it was time and again warning users of virtual currencies regarding the risks associated with it.

RBI maintains status quo, keeps repo rate unchanged at 6%

Wilful defaulters form 14% of PSB bad loans

Around 14% of the bad loans in public sector banks (PSBs) are due to wilful defaulters. The total gross non-performing assets (NPAs) of 21 PSBs stood at Rs 7.33 lakh crore as on September 30, 2017. Of this, Rs 1.01 lakh crore of loans were termed as those in wilful default.

Some borrowers with no intention of paying back their loans are using their children to conceal their assets from banks during insolvency proceedings, forensic experts told ET.

Finance ministry asks public sector banks to close loss-making branches
The finance ministry has asked PSBs to discuss consolidation of overseas branches and take a final call on closing some unviable operations.

Rising NPAs in education loan add to banks’ stress

The government is already struggling to deal with the problem of mounting NPA in the public sector banks and has drawn a mega recapitalisation plan to strengthen them.

The recapitalisation bonds will not be inflationary and will be cash neutral, says Department of Financial Services (DFS) Secretary Rajiv Kumar

Tag: Economy

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Budget 2026: Key Takeaways from FM Nirmala Sitharaman's speech

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Budget 2026: Key Takeaways from FM Nirmala Sitharaman's speech