Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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		&#039;title&#039; =&gt; &#039;CAG raps govt-owned banks for understating non-performing assets -Indivjal Dhasmana&#039;,
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-Business Standard&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Govt told to be consistent on capital infusion criteria&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.&lt;br /&gt;
&lt;br /&gt;
Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.&lt;br /&gt;
&lt;br /&gt;
The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India.&lt;br /&gt;
&lt;br /&gt;
The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).&lt;br /&gt;
&lt;br /&gt;
The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&amp;quot; it said.&lt;br /&gt;
&lt;br /&gt;
CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&amp;quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-Business Standard

Govt told to be consistent on capital infusion criteria

The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs)...&#039;,
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&lt;br /&gt;
&lt;em&gt;Govt told to be consistent on capital infusion criteria&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).&lt;br /&gt;
&lt;br /&gt;
The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&amp;quot; it said.&lt;br /&gt;
&lt;br /&gt;
CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&amp;quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-Business Standard

Govt told to be consistent on capital infusion criteria

The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs)...&#039;
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-Business Standard

Govt told to be consistent on capital infusion criteria

The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs)..."/>
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                <strong>CAG raps govt-owned banks for understating non-performing assets -Indivjal Dhasmana</strong></h1>
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                <div align="justify">-Business Standard<br /><br /><em>Govt told to be consistent on capital infusion criteria<br /></em><br />The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.<br /><br />Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.<br /><br />The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India.<br /><br />The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).<br /><br />The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.<br /><br />&quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&quot; it said.<br /><br />CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&quot;<br /><br />Please <a href="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html" title="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html">click here</a> to read more. <br /></div>               </font>
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-Business Standard&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Govt told to be consistent on capital infusion criteria&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.&lt;br /&gt;
&lt;br /&gt;
Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).&lt;br /&gt;
&lt;br /&gt;
The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&amp;quot; it said.&lt;br /&gt;
&lt;br /&gt;
CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&amp;quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
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Govt told to be consistent on capital infusion criteria

The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs)...&#039;,
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&lt;br /&gt;
&lt;em&gt;Govt told to be consistent on capital infusion criteria&lt;br /&gt;
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The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&amp;quot; it said.&lt;br /&gt;
&lt;br /&gt;
CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&amp;quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
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Govt told to be consistent on capital infusion criteria

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-Business Standard

Govt told to be consistent on capital infusion criteria

The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs)..."/>
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                <strong>CAG raps govt-owned banks for understating non-performing assets -Indivjal Dhasmana</strong></h1>
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                <div align="justify">-Business Standard<br /><br /><em>Govt told to be consistent on capital infusion criteria<br /></em><br />The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.<br /><br />Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.<br /><br />The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India.<br /><br />The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).<br /><br />The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.<br /><br />&quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&quot; it said.<br /><br />CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&quot;<br /><br />Please <a href="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html" title="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html">click here</a> to read more. <br /></div>               </font>
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&lt;br /&gt;
&lt;em&gt;Govt told to be consistent on capital infusion criteria&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.&lt;br /&gt;
&lt;br /&gt;
Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).&lt;br /&gt;
&lt;br /&gt;
The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&amp;quot; it said.&lt;br /&gt;
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CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&amp;quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&amp;quot;&lt;br /&gt;
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-Business Standard

Govt told to be consistent on capital infusion criteria

The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs)...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Business Standard&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Govt told to be consistent on capital infusion criteria&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.&lt;br /&gt;&lt;br /&gt;Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.&lt;br /&gt;&lt;br /&gt;The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India.&lt;br /&gt;&lt;br /&gt;The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).&lt;br /&gt;&lt;br /&gt;The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.&lt;br /&gt;&lt;br /&gt;&amp;quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&amp;quot; it said.&lt;br /&gt;&lt;br /&gt;CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&amp;quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&amp;quot;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html&quot; title=&quot;http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;br /&gt;
&lt;em&gt;Govt told to be consistent on capital infusion criteria&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).&lt;br /&gt;
&lt;br /&gt;
The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&amp;quot; it said.&lt;br /&gt;
&lt;br /&gt;
CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&amp;quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-Business Standard

Govt told to be consistent on capital infusion criteria

The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs)...&#039;
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-Business Standard

Govt told to be consistent on capital infusion criteria

The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs)..."/>
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                <strong>CAG raps govt-owned banks for understating non-performing assets -Indivjal Dhasmana</strong></h1>
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                <div align="justify">-Business Standard<br /><br /><em>Govt told to be consistent on capital infusion criteria<br /></em><br />The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.<br /><br />Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.<br /><br />The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India.<br /><br />The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).<br /><br />The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.<br /><br />&quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&quot; it said.<br /><br />CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&quot;<br /><br />Please <a href="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html" title="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html">click here</a> to read more. <br /></div>               </font>
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-Business Standard<br />
<br />
<em>Govt told to be consistent on capital infusion criteria<br />
</em><br />
The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.<br />
<br />
Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.<br />
<br />
The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India.<br />
<br />
The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).<br />
<br />
The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.<br />
<br />
&quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&quot; it said.<br />
<br />
CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&quot;<br />
<br />
Please <a href="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html">click here</a> to read more. <br />
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-Business Standard

Govt told to be consistent on capital infusion criteria

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-Business Standard<br />
<br />
<em>Govt told to be consistent on capital infusion criteria<br />
</em><br />
The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.<br />
<br />
Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.<br />
<br />
The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India.<br />
<br />
The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).<br />
<br />
The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.<br />
<br />
&quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&quot; it said.<br />
<br />
CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&quot;<br />
<br />
Please <a href="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html">click here</a> to read more. <br />
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-Business Standard

Govt told to be consistent on capital infusion criteria

The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs)...'
$disp = '<div align="justify">-Business Standard<br /><br /><em>Govt told to be consistent on capital infusion criteria<br /></em><br />The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17.<br /><br />Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.<br /><br />The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India.<br /><br />The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore).<br /><br />The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said.<br /><br />&quot;In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories,&quot; it said.<br /><br />CAG also observed that the criteria for infusing capital was changed by the government in between. It said,&quot;PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion.&quot;<br /><br />Please <a href="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html" title="http://www.business-standard.com/article/finance/cag-raps-govt-owned-banks-for-understating-non-performing-assets-117072801565_1.html">click here</a> to read more. <br /></div>'
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CAG raps govt-owned banks for understating non-performing assets -Indivjal Dhasmana

-Business Standard Govt told to be consistent on capital infusion criteria The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17. Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday. The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India. The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation Bank (Rs 1,954 crore) and Oriental Bank of Commerce (Rs 1,350 crore). The CAG said the primary responsibility in adequate provisioning for any diminution in the value of loan assets, investment or other assets is of the bank managements and the statutory auditors. The assessment made by the inspecting officer of RBI is given to assist the management and the auditors in taking a decision, in terms of prudential guidelines, it said. "In conformity with the prudential norms, provisions should be made on NPAs on the basis of classification of assets into prescribed categories," it said. CAG also observed that the criteria for infusing capital was changed by the government in between. It said,"PSBs signed (agreements) in the February-March period in 2012 with the department of financial services for performance-linked capital infusion during 2011-12 to 2014-15. However, achievement against the (agreed-on) targets was not linked to actual capital infusion." Please click here to read more.