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The Reserve Bank of India | Photo: Suraj Singh Bisht | ThePrint

RBI predicts bad loan surge by March 2021, says NPAs will rise to 12.5% from 8.5% now 

According to the RBI’s financial stability report, bad loans may rise to 14.7% if the macroeconomic environment worsens.
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.

On Camera

GPS, watch out. Here comes China with a better satellite navigation system

China has launched the final leg of its BeiDou Navigation Satellite system, or BDS, completing the build-out of a network that competes with US’ GPS and Europe’s Galileo.

Jugaad and Covid pose new threats to India’s diesel consumption

Rise of natural gas & electric vehicles will crimp diesel demand over longer-term, but coronavirus is adding to the pressure by cutting economic activity.

Defence

File image of Defence Minister Rajnath Singh | Photo: ANI

Govt will take more steps towards indigenisation of defence infrastructure, says Rajnath Singh

Kick-starting the 'Atmanirbhar Week' in the defence sector, Defence Minister Rajnath Singh said the govt is looking to expand defence manufacturing capability in India.
Illustration: Soham Sen | ThePrint

Modi redefined secularism with Ram Mandir as Hindu voters were fed up of Sonia-Left version

Assumptions that Indian secularism died with Ram Mandir bhoomi pujan are bunk. It is enshrined in the Constitution, and is worth preserving.