About 2,492 account-holders owing Rs1 crore and above had defaulted in 2010-11 and the total amount to be recovered is Rs25,041 crore
New Delhi: Ruling out any relief to bank loan defaulters owing Rs1 crore and above, the Indian government on Friday said all efforts will be made to recover the dues from such companies and individuals, reports PTI.
Maintaining that the government was under no pressure to waive loans of Rs one crore and above, Minister of State for Finance Namo Narain Meena said in Lok Sabha that no relief will be given to defaulters.
"Recovery is an on-going process. All loans will be recovered," Meena said during Question Hour.
He said 2,492 account-holders owing Rs1 crore and above had defaulted in 2010-11 and the total amount to be recovered is Rs25,041 crore.
Meena said banks were required to monitor non-performing assets (NPAs) and take steps to bring them down through recovery and other channels. RBI also monitors the NPA levels in banks.
"This aspect is reviewed during annual financial inspections and monitored on an ongoing basis through regulatory returns submitted by banks and periodical meetings with banks," Meena said.
The banks are also advised by RBI from time to time to take effective measures to strengthen the credit appraisal and post-credit monitoring to arrest the incidence of fresh NPAs and adopt a more realistic approach to reduce the existing and chronic NPAs in all categories.
Banks resort to write-off only after exhausting all other possible avenues for recovery or when the asset coverage is not enough, Meena said. During FY11, around Rs23,364.62 crore were written off, he added
For the full year to end-March 2012, SBI's net profit increased 41.6% to Rs11,707 crore
New Delhi: Country's largest lender State Bank of India (SBI) on Friday posted net profit of Rs4,050.27 crore in the fourth quarter ended March 2012, against just Rs20.88 crore recorded in same period a year ago, reports PTI.
SBI profits had taken a big hit in Q4 of 2010-11 on account of higher provisioning for bad loans and increased tax outgo.
During the quarter to end-March, SBI said its total revenues rose to Rs33,959.54 crore as against Rs26,536.84 crore in the same quarter a year ago, SBI said in a filing on the BSE.
The SBI Board has proposed a dividend of 350% or Rs35 per share for 2011-12.
For the full year to end-March 2012, the bank's net profit increased 41.6% to Rs11,707.29 crore as compared to Rs8,264.52 crore an year ago. Total revenues, including interest rose Rs1.21 lakh crore against Rs97,218.96 crore in the previous fiscal.
On consolidated basis, profit of SBI Group also rose by 44% to Rs15,343.1 crore for the year ended March 2012 compared to Rs10,684.95 crore a year ago. During the year, total revenues of the group increased to Rs1.77 lakh crore against Rs1.47 lakh crore a year ago period.
Shares of the bank was trading at Rs1,913 a piece, up 3.6% in the afternoon session on the BSE.
According to BCCI chief administrative officer Ratnakar Shetty, MCA officials should be appreciated for the extreme restrain shown by them in the face of abusive language being hurled on them
Mumbai: The Mumbai Cricket Association (MCA) on Friday banned Kolkata Knight Riders' co-owner and Bollywood actor Shah Rukh Khan from entering the Wankhede Stadium for five years for misbehaving with its officials and violating its rules, reports PTI.
The 'unanimous' decision was taken at the MCA Managing Committee meeting called to discuss action on Khan who was involved in a skirmish with the security and officials of the association after KKR's victory over Mumbai Indians on Wednesday night.
MCA President Vilasrao Deshmukh, who chaired the meeting, said that his association was sending out a message that misbehaviour of any kind would not be tolerated.
"If rules are violated, action will be taken. It does not depend who the individual is. It's a message to everyone whosoever he or she may be that stern action will be taken if there is any misbehaviour," he told a press conference.
Khan had, however, had denied he had misbehaved and acted only after children, including his kids, were "manhandled" by the security staff.
Deshmukh said, "How can he go inside the ground without proper accreditation. Even I can't go inside the ground if not invited for presentation ceremony."
"We have handed a five-year ban on him and it was a unanimous decision. It applies to any match whether domestic or international at the Wankhede," he said.
Asked if BCCI can reverse this decision to ban Khan, Deshmukh said, "We have taken a decision to protect the dignity of our association. BCCI is our parent body and we have written to them informing what had happened. We have no control over BCCI's decision. We are also an independent body with the Wankhede being our property."
IPL Chairman Rajiv Shukla, however, said that a final decision will be taken by the BCCI. "State bodies can only recommend but a final decision has to be taken by the BCCI. When the matter comes to BCCI, the Board will decide (on the ban)," he told reporters in New Delhi.
Deshmukh said that many MCA officials were present at the time of the fracas and they have expressed their strong views against Khan in the meeting.
"There were a lot of MCA officials present at the time of fracas. Nothing more was needed to prove that he (Khan) misbehaved. The Assistant Commissioner of Police himself was present and he said Khan was drunk," he said.
Asked if there was still a chance of the ban being reconsidered, Deshmukh said, "There is no question of that. Khan did not make any representation to us, nor apologise. He could also have filed a police complaint but he did not do that."
"Whether BCCI, IPL or MCA, such kind of misbehaviour cannot be tolerated. We have also filed a police complaint and it's upto the police to act now," he added.
BCCI chief administrative officer Ratnakar Shetty said that the Board has received a complaint from the MCA regarding the fracas. "The BCCI has got a complaint from the MCA. We will see to it. We will also think of some measures from the next IPL onwards to ensure that such incidents do not happen in future," he said.
"This is an unprecedented situation. We have never come across such incidents in the last five years at the Wankhede Stadium. It was extreme restrain shown by the MCA officials in the face of abusive language being hurled on them. They should be appreciated," said Shetty.
Khan had categorically denied that he was drunk and claimed that the scuffle broke out after MCA officials manhandled his kids who he had come to pick after the IPL match between KKR and Mumbai Indians. MCA officials, who have lodged a police complaint against the actor, however, gave a different version.
Khan had also refused to apologise, saying that the security personnel and the MCA officials were high-handed and it was they who provoked him to use abusive language.
"I was not drunk, I had gone to pick up my children. The officials were extremely aggressive. I just got angry and said a few things in anger. I was one and they were 20-25 officials and they were extremely rude," Khan had said.
Royal Challengers Bangalore team-owner Vijay Mallya said that "being a team-owner does not override conduct".
"I don't think ownership or status of Mr Khan is in question. Whatever I have seen is the MCA questioning his behaviour and that has to be addressed. The fact that he is a team-owner that does not override conduct," Mallya said in New Delhi.
Asked about the ban on Khan by the MCA, Mallya refused to comment, saying, "That's strictly between MCA and affected person. I can't comment on that."
On suggestion on some quarters that IPL should be stopped, Mallya said, "I don't think IPL has any role to play. Stopping IPL is a senseless suggestion."