By housing bad loans of many lenders under one roof, the new entity should help speed up decision-making and improve bargaining power when resolving these assets.
In September 2019, RBI had placed PMC under regulatory restrictions, including cap on withdrawals by its customers, after detection of certain financial irregularities.
Most banks have reported a smaller percentage of bad loans on their books in the last quarter. Here’s a look at the full extent of the problem in selected financiers.
NBFCs fund a wide range of businesses. Any setback would not bode well for an economy already heading for its worst annual contraction since the 1950s this financial year.
According to bankers, total debt recast will be around Rs 3 lakh crore. Shapoorji Pallonji, Future groups among firms to receive nod for recast, but may ultimately not need it.
SBI’s bad loan ratio fell to 5.28% in September end from 5.44% three months earlier, but the bank warned that it expects further $2.7 billion of loans to sour over next 6 months.
SBI, which posted a better than expected profit, estimates a further Rs 200 billion of loans to sour in the next 6 months as Covid continues to impact borrowers.
Dinesh Khara, who was one of the SBI MDs handling global banking and subsidiaries, is set to begin his three-year term Wednesday. He succeeds Rajnish Kumar.
Lessons from the 2008 Global Financial Crisis can help us avoid policy mistakes during the Covid-19 pandemic, especially with respect to inflation & bad loans.
While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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