Tag: NPA
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IL&FS accounts not to be declared NPAs, rules NCLAT
New Delhi : The National Company Law Appellate Tribunal (NCLAT) on Monday said the cash-strapped Infrastructure Leasing and Financial Services (IL&FS) and its group companies will not be declared as non-performing assets (NPA) without approval from the appellate tribunal. A two-member bench headed by NCLAT Chairman Justice (Retd.) S.J. Mukhopadhyay was hearing an application moved…
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LIC may infuse up to Rs 12,000 crore in IDBI Bank to help it meet provisioning for NPAs in Q4
By Anjana Das, New Delhi : IDBI Bank has sounded out its new owner LIC seeking another tranche of up to Rs 12,000 crore to meet its huge provisioning requirements amid mounting losses. The fresh support is required to cover for non-performing assets (NPAs) in the January-March quarter. Life Insurance Corporation of India (LIC) completed…
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Crisis of confidence in banking system provides an opportunity to unleash reforms
By Amit Kapoor & Chirag Yadav, India’s banking sector has been hogging the headlines for all the wrong reasons. It started with the mounting problem of non-performing assets (NPAs) across banks; then came a revelation of systemic fraud in the second-largest state-owned bank; and most recently, topping it all off are damning allegations of irregularities…
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Allahabad Bank focuses on recovery, refers 65 NPA accounts to IBC
Kolkata : State-run Allahabad Bank, which referred 65 stressed accounts involving around Rs 12,566 crore to the NCLT for IBC resolution during last fiscal, is focusing on recovery and rebalancing its loan book with emphasis on small, micro, agriculture and retail advances. The lender also said the number of “wilful defaulters” declared by the bank…
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PNB claims expected recovery of Rs 1,800 cr from “Mission Gandhigiri”
New Delhi : State-run lender Punjab National Bank is expected to recover around Rs 1,800 crore from its non-performing assets (NPAs) recovery mechanism — “Mission Gandhigiri” — which will soon complete one year of operation. A senior bank official told IANS the mission, was launched in May 2017, had consistently delivered positive results with an…
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Gross NPA may rise to Rs 9.5 lakh crore by March: Study
New Delhi : Gross non-performing assets (NPA) in Indian banks are expected to rise to Rs 9.5 lakh crore by March, from Rs 8 lakh crore in March last year, said a ASSOCHAM-Crisil joint study. Stressed assets in March 2018 are expected to be at Rs 11.5 lakh crore, the report titled “ARCs headed for…
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Bank NPAs increased under Modi government: Congress
New Delhi : The Congress on Thursday hit back at Prime Minister Narendra Modi on his charge that banks were forced to give loans to select industrialists during UPA rule, saying bad loans increased in his regime. The Congress also demanded a probe by independent agencies into the issue. “Yesterday (Wednesday) Modiji said that NPA…
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‘Muhurat’ trading: Global cues, profit booking subdue markets
Mumbai : Samvat 2074, marking the start of the Hindu New Year on Thursday, saw both key indices of the Indian equities markets recede as rise in geo-political tensions in the Korean peninsula along with fears of higher non-performing asset (NPA) levels of the domestic banking sector eroded investors’ risk-taking appetite. The hour-long session is…
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Sell-off in banking stocks drag equity indices lower
Mumbai : A massive sell-off in banking sector stocks over fears of rising non-performing asset (NPA) levels pulled the key Indian equity indices lower on Wednesday. According to market observers, heavy selling pressure in the banking, healthcare and consumer durables stocks, along with profit bookings eroded investors’ risk-taking appetite. The 30-scrip Sensitive Index (Sensex) closed…
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Macro-data, global cues to drive equity markets
By Rohit Vaid, Mumbai : Macro-economic data points and the direction of foreign funds’ flow are expected to influence sentiments of investors and set the tone for the Indian equity markets in the upcoming week, feel senior analysts. Other important factors such as the geo-political situation in the Korean peninsula, rupee’s movement and government’s measures…