-The Hindu SBI reports Rs.11,932 crore NPA divergence in FY19 The Reserve Bank of India's (RBI’s) inspection report has found out that State Bank of India (SBI) under-reported Rs.11,932 crore of Bad Loans in FY19, which has pushed the bank to report net loss for the financial year 2018-19. The divergence in net non-performing asset (NPA) was also Rs.11,932 crore, the bank informed the exchanges. According to the RBI, provision requirement for SBI increased...
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Bad Loans under Mudra Kishore jump 107% in six months -Shyamlal Yadav
-The Indian Express 12 PSU banks data reveal smallest ticket size Shishu loans fare best. New Delhi: THE number and value of bad loan accounts in the Kishore category of the Pradhan Mantri Mudra Yojana (PMMY) for a dozen public sector banks including State Bank of India, Canara Bank and Bank of Baroda, have jumped 107 per cent and 71 per cent, respectively, as on September 30, 2019 compared with March...
More »Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...
More »Why India's mega bank mergers move may not yield the desired results -Mythili Bhusnurmath
-The Economic Times Government’s forced mega merger of public sector banks could scupper economic recovery. I am not saying we maintain a Panglossian countenance, that we smile away every difficulty. But, in any real economy, the mood is very important,’ observed Reserve Bank of India governor Shaktikanta Das, speaking at an event in Mumbai late August. Sound advice. Sentiment matters. Irrational despondency can be as damaging for the economy as ‘irrational exuberance’. But...
More »Poor recoveries under IBC can derail Centre's Rs. 70,000-cr recap plan -Radhika Merwin
-The Hindu Business Line Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks While the Centre’s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC. A look at...
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