Tag: Legal

Financial bids for all 12 large NPA accounts by month-end: SBI

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

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Banks set to crack down on defaulters in RBI’s second list

A majority of companies on RBI’s second list of loan defaulters, including Monnet Power and Visa Steel, will be referred to NCLT for bankruptcy proceedings
The assets of some of the 40 top defaulters (12 in the first list and 28 in the second) are likely to be sold over the next few months as RBI and the government push lenders to speed up the resolution of Rs10 trillion of soured loans.

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Banks set to send 23 of 28 large dud accounts to NCLT tomorrow

In August, the Reserve Bank had asked banks to either resolve 28 more large stressed accounts by tomorrow or refer them to the NCLT by December 31.These 28 accounts together account for 40 per cent of the system wide bad loans or worth around Rs 4 trillion. 

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Reasons for Heavy Losses in PSU Banks

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…

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RBI partially modifies/clarifies Prudential Guidelines on Revitalising Stressed Assets in the Economy

On 25th Feb 2016 RBI has partially modified the Prudential Guidelines on Revitalising Stressed Assets.The excerpts of the Press Release are given below.On a review and based on feedback received from stakeholders, the Reserve Bank of India has partly modified and also clarified, some aspects of its Prudential Guidelines for Revitalising Stressed Assets in the…

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