-The Indian Express The Finance Ministry directed smaller PSBs to cut their corporate loan exposure to 25 per cent of their risk-weighted assets over the medium term and focus more on retail lending. Corporate loans corner the lion’s share of rising bad loans in public sector banks while retail loans have a far superior track record when it comes to timely repayment, according to the latest available Reserve Bank of India...
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Wilful defaults increased by 152 per cent during Modi regime -Vandana
-TheWeek.in Wilful defaults, loans which are deliberately not repaid by companies despite having the capacity to do so, have surged 152 per cent in the last four years of Modi government. A new report prepared by Pinkerton – a risk management consultancy along with PHD Chamber of Commerce and Industry – says that both gross NPAs and wilful defaults have been going up post 2008 financial crisis. The value of wilful defaults...
More »RBI governor Urjit Patel lists all the (other) reasons for PNB fraud -Malvika Joshi
-Livemint.com RBI’s regulatory powers over PSU banks are weaker than those over the private sector banks, says Urjit Patel, putting the onus of tackling bank frauds such as the one at PNB on the finance ministry Mumbai: Reserve Bank of India (RBI) governor Urjit Patel broke his silence on Wednesday on the PNB fraud, putting up a blistering defence for the regulator and sought to put the onus on the finance ministry...
More »Economists Hit Out Against Move to Privatise Public Sector Banks
-TheCitizen.in Banking needs reforms not privatisation NEW DELHI: The scale of the recent bank scams and the potential losses faced by banks holding non-performing loans given to some large companies and individuals, has shocked all of us. However, we are concerned to note that this has become an excuse to demand the privatisation of publicly held banks. While it is true that the current scam involves Punjab National Bank, the second largest public sector...
More »We mean business, mostly -Pradeep Narayanan & Dheeraj
-The Hindu Business Line Lack of financial transparency and social inclusion is at the root of India’s lopsided growth story, finds the India Responsible Business Index ‘Sab kuchh dikhta hai (everything is visible)’, the tag line of the now controversial Rotomac pens seems to assume a sinister meaning in light of the recent financial fraud involving owners Vikram and Rahul Kothari. The recently unearthed Nirav Modi scam, with no LoU [Letter of Understanding]...
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