Country’s largest lender State Bank of India 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
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
NEW DELHI: 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.
Prime Minister Narendra Modi on Wednesday sought to allay the fears of bank account holders, saying their deposits in banks will be safe and their interests would not be harmed in any way.
Govt to amend insolvency and bankruptcy rules via ordinance, will block promoters deemed wilful defaulters from regaining control of firms.
The move to bar wilful defaulters from regaining control over their companies will bring credit discipline and prevent promoters from gaming the system
Concerned over NPAs crossing Rs 7 lakh crore, the finance ministry has asked public sector banks (PSBs) to take swift and firm action to deal with the bad loan problem, a banker said.
Wilful defaulters list: Finance Minister Arun Jaitley on Thursday said the banks will recover every penny of loan given to him. Jaitey, who was speaking at an event in New Delhi, said investigative agencies will take strong action against the liquor baron wherever he is found to have violated the law. Mallya, who has been declared a wilful defaulter, owes banks over Rs 9,000 crore.
‘Top 50 stressed a/cs will need ₹2.4 lakh cr haircut’.This amounts to 60% of the ₹4 lakh crore exposure to these accounts: Crisil report