A generous regulatory approach to stressed-loan restructuring will reduce incurred-loss provisioning and enable Indian banks to spread the related credit costs over a longer period of four years, resulting in a more manageable impact on profitability and capital, says Fitch Ratings. The...

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The gross non-performing assets (GNPAs) of banks are expected to cross Rs 10 lakh crore by March 2022, a ASSOCHAM-Crisil joint study had said.   "NPAs are expected to rise to 8.5-9 per cent by March 2022, driven by slippages in retail, micro, small and medium enterprise (MSME)...

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Asset reconstruction companies (ARCs) are expected to circle stressed accounts in the micro, small and medium enterprises (MSME) and retail segments in the near-to-medium term due to the twin challenges of inadequate funding access and intensifying competition from the proposed National ARC,...

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The Banks Board Bureau ((BBB), an autonomous body of the Indian government, has recommended Atul Kumar Goel for the position of managing director (MD) and chief executive officer (CEO) of Punjab National Bank (PNB). Ajay Kumar Srivastava is the candidate on the reserve list for these posts,...

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While maintaining a stable outlook on the overall banking sector for the rest of FY21-22, India Ratings and Research (Ind-Ra) says, heightened stress in the retail segment and micro, small and medium enterprises (MSME) would push inflexion point.    In a research report, the ratings...

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Today, with the advent of technology, most sectors, including the banking industry, have become digitally empowered. The Indus Digi-Start savings account by IndusInd Bank is an attempt to modernise the experience of banking and make it much more convenient and user-friendly.   With a...

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Kotak Mahindra Bank will sell 20 crore shares in Airtel Payments Bank Ltd amounting to 8.57 per cent stake to Bharti Enterprises for around Rs 294 crore.   Kotak Mahindra Bank Limited has executed a share purchase agreement for the sale, the bank said in a regulatory...

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While small borrowers are made to pay every single paisa they borrowed, public sector banks (PSBs) appear to favour big defaulters while writing off their loans of Rs100 crore and above.   Take, for example, over the past nine years, Central Bank of India wrote off nearly Rs21,000...

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The Hyderabad police on Thursday arrested Karvy Stock Broking Ltd (KSBL)'s chairman C Parthasarathy for allegedly defaulting on a loan taken from IndusInd Bank. The central crime station (CCS) police made the arrest after registering a case against  KSBL on the basis of a complaint filed by...

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Equity infusion as planned is critical for PNB Housing Finance Ltd (PNBHF) to provide adequate buffers for growth and mitigate any possible asset-side stress, says India Ratings and Research (Ind-Ra).   In a note, the ratings agency says, "Although the company’s balance sheet has...

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In a huge relief for the common man, the Reserve Bank of India (RBI) has decided to charge penalties on banks for non-availability of cash in ATMs.   Starting 1 October 2021, cash-out at any ATM of more than 10 hours in a month will attract a flat penalty of Rs10,000 per ATM. In case...

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As per the Reserve Bank of India (RBI) rules, National Automated Clearing House (NACH) has been made available on all days from 1 August 2021. Consequently, NACH will be available on all 7 days of the week.   This new rule will benefit the cheque book users as their issued cheques...

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The Reserve Bank of India (RBI) has cautioned the public from falling prey to offers of buying or selling of old bank notes and coins.   In a statement, the central bank said that certain elements are fraudulently using the name and logo of the Reserve Bank of India, and seeking...

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Non-performing assets (NPAs) of the scheduled commercial banks declined marginally to Rs 8.34 lakh crore as on March 31, 2021, Parliament was informed on Tuesday.   Citing data from the Reserve Bank of India, Minister of State for Finance Bhagwat Karad told the Rajya Sabha, in a...

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A UK court on Monday declared fugitive Indian businessman Vijay Mallya, the chairman of now defunct Kingfisher Airlines, as "bankrupt".   The UK court order comes as a massive boost for the consortium of banks led by the State Bank of India (SBI) to initiate freezing of assets owned...

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Around US$18 billion of the total loan advances to the Indian real estate by banks, NBFCs (non-banking finance companies) and HFCs (housing finance companies) are currently under severe stress, while a majority, around $67 billion, is completely stress-free, according to a report by Anarock...

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A CBI court on Thursday sentenced the then manager of a Bank of Baroda branch and another person to four years rigorous imprisonment in connection with a bank fraud of Rs 2.74 crore.   A CBI spokesperson said that the Special Judge, CBI cases, in Delhi sentenced V.B. Katoria, then...

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The global banking sector is clawing its way back to normalcy. Authorities' strong support for households and corporates over the course of COVID-19 has clearly helped banks. Lenders were also well-positioned going into the pandemic, after banks bolstered their capital, provisioning,...

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The recent second wave of coronavirus (COVID) cases will continue to exert near-term pressure on India's non-bank financial institutions (NBFI), says Fitch Ratings in a report, adding this is despite less stringent activity restrictions than in 2020, and cases of infection subsiding rapidly,...

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Securitisation deals gained traction in June after a subdued April and May, boosting the volume for the first quarter of this fiscal by nearly three times year-on-year (y-o-y) to Rs20,000 crore.   Nevertheless, this was still only half of the pre-pandemic average as volumes in first...

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