No relief to bank loan defaulters

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


SBI Q4 profit surges to Rs4,050.27 crore from Rs20.9 crore


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.



MCA bans Shah Rukh Khan for 5 years, IPL chief says BCCI will decide

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."




5 years ago

MCA and CM of Maharashtra just cannot afford to stick to its moral stand for religious and other reasons, BCI apart. It is true though that MCA is practically "öwned" by one person and the unfortunate star, also extremely well groomed in the prestigious and aristrocratic St. Columbus School in Delhi, and generally not known to belong to any coterie of any kind, he has to buy peace from only that "one" person. Let us face facts too. BCCI is what we know, IPL was openly propagated to be a moneymaking machine--a totally private enterprise with all the attendant vices of unlimited money! The very fact of the "cheer girls" having been introduced ought to have been objected to it before it all started and open filth began entering the houses of even the low income group people with TVs in their houses, thanks to Pitroda and Rajiv Gandhi. And so permissiveness has been legalised while the political leaders have starred crying hoarse against all this indecency and obscenity after the various behind the curtain news have appeared regarding post-IPL matches! Money, money, money, sweeter than money being the only mantra of life, no one will ever dare take any action in any respect against anything like this. I endorse the views expressed in the first comment on this--stop bringing in people from filmdom and cricket field to the upper house. If any party wants their faces to win elections, let the parties field them in the general elections to the Lok Sabha.

Meanwhile, we will watch your site for further scintillating news on IPL and its real economics!

Arun Iyer

5 years ago

Wow, judgment in one day and that too ex-parte!
Hope the Indian judiciary will take a lesson from Vilasrao Deshmukh and deliver judgement on all the cases pending against him with equal speed, say a week's time?


C Jyoti

In Reply to Arun Iyer 5 years ago

The Mumbai police has already "closed"the case while the tempestuous CM of Bengal has more or less served an ultimatum on all concerned (CM of Maharashtra and the Congress) to spare Kolkata-owner and Bengal's Hon'ble Brand Ambassador agaist whose character, she alleges, a false smear campaign has been launched for no reason and that the actor is not only above human fallacies but the law too!

In India, laws and regulations are really directed against only the helpless poor.


5 years ago

Having accorded the position these film, fashion and cricket stars to be equated with the constitutional powerheads, security cover at the cost of the exchequer of the poor state and the total run of the all the land they survey, it is ridiculous that the media is making a fuss of this usual incident with these pampered lot. MCA will lose, though the real background to the tough stand taken by it is too wellknown to those who are in the business of knowing things. The man who owns the MCA has the entire govt. and the bureaucracy in its pockets. He knows the power of money (and glamour thereof too).But all that apart, who did not know what was happening with the IPL? It was the license given to people with money (including the underworld) to have fun at the cost of India's immature middle class and its obsession with cricket, with voisual sex thrown in. Free flow of black money, invested to buy the bureaucrats (whose money also is invested like in the filmdom) and the lower echelons in the central secretariat and the state govts, entry of hawala players and a channel for immorality to make its kill--and with the enormous loss to the nation by giving IPL tax exemption...all this will now be subject to post mortem after the horse has bolted the stable. First of all, the country MUST desist from its tendency to accord constitutional honour and position to film and cricket stars--they are there for making money and by giving them constitutional protection, the statutory authorities are being belittled and their scope and powers curtailed as far as these people are concerned. Politically potent constitutional status given to these stars of glamour is really pernicious and the only message to the authorities administering various laws in the country is to treat them above the law! Why must BCCI enjoy the status it has in the corridors of power (Central Secretariat), or why cricketers are given Z-category security status, or made "Brand Ambassadors"of the provinces, or why their private bodyguards must be allowed to kill people--are the questions which self-respecting and conscientious journalists must address and resist through the print media (electronic media having no qualms of ethics whatsoever) in the papers not yet run ëntirely" for private profit. In fact, these are the issues which NRI-human rights activists ought to take up as much as the "professional PLI advocates" shouls also ponder over.
It is imperative to begin with banning IPL and take away the powers and official status of the BCCI. Things then will automatically start improving. And, then, withdraw the Z/Y/X-category security cover of all persons in India at govt cost--something the rights activists (mostly during their India visits!) ignore.

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