RBI Notification DNBR (PD-ARC) No. 05/ED(SS)-2017 dated April 28, 2017In exercise of the powers conferred by clause (b) of sub-section (1) of section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Reserve Bank of India hereby specifies that the Net Owned Fund (NOF) for Asset Reconstruction Companies…
Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances RBI has been decided to provide an additional 60 days beyond what is applicable for the concerned regulated entity(RE) for recognition of a loan account as substandard
MUMBAI: The Reserve Bank of India on Monday relaxed guidelines for restructuring of large stressed assets by lenders in a move that would allow the banks to more effectively manage bad loans on their books. India’s banks are saddled with about $120 billion in stressed loans, or 11.5 percent of the total, and RBI Governor…
PNB reports Q4 loss of Rs 5,370 crore, biggest in Indian banking history. Next to follow suit is Bank of Baroda, Syndicate Bank, UCO Bank and Central Bank. Many more PSU Banks are incurring losses in Q-4, except Union Bank of India which is the only Bank to post Profit of Rs. 97 Crores. Reasons for…
Talking of NPAs or toxic assets in the context of Indian banks , this should be an interesting read…………The total amount of bad loans in India’s banks is bigger than the GDP of 112 countries.India’s burden of bad loans is truly gigantic.An analyst from India Ratings and Research, a credit ratings agency and a unit…
The main reasons for increase in NPAs of banks include sluggishness in domestic growth during the recent past, slowdown in recovery in the global economy and continuing uncertainty in the global markets leading to lower exports of various products like textile, engineering goods, leather, gems.Besides external factors, Finance Ministry’s annual report said, ban in mining…