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A cashier examines Indian rupee banknotes at the Mayuresh Watches and Traders watch and mobile phone store in the Byculla area of Mumbai

Indian banks could add Rs 10 lakh crore in NPAs due to Covid: Ex-finance secretary Garg

In a blog, ex-finance secretary Subhash Chandra Garg said 80% of bank lending was to non-essential sectors that have completely stopped functioning in the lockdown.
Raghuram Rajan | File Photo | Simon Dawson | Bloomberg

Raghuram Rajan tried to find bad loans. The dirt that came out was thrice his expectation

In Bad Money, Vivek Kaul writes how public sector banks refrained from recognising bad loans because that meant setting aside money to meet these losses.
Rupee (Representational image) | Dhiraj Singh | Bloomberg File photo

Repay Rs 1.1 lakh crore in 3 months – the big funding challenge NBFCs face

Repaying the local debt market will be a big test for lower-rated NBFCs given they’ve been largely shut out of the domestic funding market.
A SBI branch in Mumbai | Dhiraj Singh/Bloomberg

SBI reports biggest ever profit as bad loans dip

SBI has been helped by the resolution of some large bad loan accounts, such as Essar Steel India Ltd, but future profit may be constrained by slowing economy.
Yes Bank

RBI discovers over Rs 32 billion-worth bad loans at Yes Bank

The RBI assessed that Yes Bank’s non-performing assets stood at Rs 111.6 billion as of March 31, more than the Rs 78.8 billion the bank had disclosed for the year.
A cashier examines Indian rupee banknotes at the Mayuresh Watches and Traders watch and mobile phone store in the Byculla area of Mumbai

India’s top bankers keep saying the worst is over, but it only keeps getting worse

RBI data suggests bad loans issue is anything but resolved and coupled with the larger economic slowdown, bankers’ proclamations can’t be taken too seriously.
Former MD of Punjab Maharashtra Co-operative Bank Joy Thomas. | PTI

How PMC Bank hid its bad loans and duped RBI for years

A letter by PMC Bank’s former managing director describes in detail how the bank duped RBI about its growing exposure to HDIL.
India is looking at a larger credit crisis. (Representational Image) | Photo: Dhiraj Singh | Bloomberg

Altico Capital is latest NBFC to default on debt repayment & add to India’s credit crisis

Altico Capital, which focuses on lending to the real estate sector, didn’t pay Rs 199.7 lakh crore of interest on borrowings from a UAE bank.

Cash crunch will worsen India’s bad loans mess, already the worst in the world

Failure to slash stressed assets, cash crunch in NBFCs, delays in bankruptcy process are adding to challenges faced by banks as they tidy up balance sheets.
File image of Finance Minister Nirmala Sitharaman | Photo: PTI

Modi govt creates bank behemoths but Q1 growth slump dampens the mood

Modi govt is counting on larger and healthier banks to spur fresh credit and revive growth that came in far lower than economists expected.

On Camera

Representational image | Pixabay

Coronavirus attacks blood vessels, creates strange clots, autopsy studies show

Autopsies have revealed that Covid-19 is no ordinary respiratory disease. The virus is killing people by ravaging the circulatory system.

40 Covid apps across India: Lack of coordination or needed for micro-management?

India now has nearly 40 Covid-19 apps, including Aarogya Setu. The purpose of these apps range from contact tracing to providing health information and issuing e-passes.

Defence

File image of Chinese President Xi Jinping | Photo: Andrey Rudakov | Bloomberg

Ladakh military operation has President Xi Jinping’s sanction: China expert Jayadeva Ranade

Jayadeva Ranade says India shouldn’t hurry to settle the issue, questions why China carried out an operation that needed so much planning and money.

The Chinese are so predictable, Modi & Shah should’ve seen them coming on 5 August 2019

India should’ve anticipated the Chinese appearance in Ladakh, even the timing of it, when the status of Jammu & Kashmir was changed.