With reference to First Bi-Monthly Monetary Policy Statement on Development and Regulatory Policies RBI has prescribed eligibility criteria of housing loans for classification under priority sector for RRB’s & Small Finance Banks as under: In terms of the Master Direction for RRBs, loans to individuals up to ₹ 20 lakh for purchase/construction of a dwelling unit…
The lending bank had contended that the defaulting borrower does not need the assistance of lawyers in the proceedings as no complex legal questions are decided in declaring a person a willful defaulter.The Supreme Court has held that a person has no “right” to be represented by a lawyer in “in-house” proceedings initiated by banks or financial institutions to declare him willful defaulters for non-payment of dues.
RBI’s revised guidelines for resolution of stressed assets likely before May 23
In Indian Express dt 24th April 2019, a news has been flashed as under: “Central Bank of India on Friday put up two non-performing assets (NPAs) worth Rs 251 crore for sale through the Swiss challenge method.” “The auction for Srinagar Banihal Expressway (Rs 200 crore) and Maa Mahamaya Industries (Rs 51 crore) are being…
Presently, the assets allowed as Level 1 High Quality Liquid Assets (HQLAs) for the purpose of computing the LCR of banks, inter alia, include (a) Government securities in excess of the minimum SLR requirement and, (b) within the mandatory SLR requirement, Government securities to the extent allowed by RBI under (i) Marginal Standing Facility (MSF)…
MUMBAI: The complete integration of Dena Bank and Vijaya Bank with Bank of BarodaNSE -0.86 % (BoB) is expected to take nearly 18 months. But customers will reap the benefits much earlier. BoB will be providing cash deposit and withdrawal facility in all branches by May. In an interview with TOI, BoB MD & CEO PS Jayakumar speaks of what customers, employees and investors can expect.
The Reserve Bank of India (RBI) will, for the time being, leave it to individual banks to decide how best to deal with corporate loan defaulters, and the government will exercise its majority shareholder rights to nudge state run banks to take insolvent companies to bankruptcy courts
Only six PSBs cross ‘desirable’ level of 70% provision coverage ratio
System-wide gross non-performing assets of banks rose to 11.2 percent or at Rs 10.39 trillion in FY18 from 9.3 percent a year ago, and the share of public sector banks stood at Rs 8.95 trillion, or at 14.6 percent, according to the Reserve Bank data released Friday.
The home ministry recently made changes in the circular by including CEOs of PSBs in the list of officials who can make request for issuance of LOCs. To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks (PSBs) to make request for issuance of look-out circulars (LOCs) against suspects.