With government mounting pressure on defaulting firms to sell their profitable assets to reduce their debts, the 86000 crore acquisition of Essar Oil, India's second biggest private oil firm, by Russian giant Rosneft will salvage
CPI-M General Secretary Sitaram Yechury has asked Prime Minister Narendra Modi to start recovering loans from top 100 defaulters in the country.
New Delhi: Comptroller and Auditor General (CAG) of India Shashi Kant Sharma today said that a significant part of banks' non-performing assets (NPAs) were a resilt of loans obtained through fraudulent methods. "There is a
New Delhi: Burgeoning cases of non-performing assets (NPAs) and piling loan frauds have led banks to private detectives for conducting ‘undercover’ operations to unearth hidden data against defaulters who have cheated them of crores of
Creating history of sorts, state-run Punjab National Bank has posted a loss of Rs 5,367 crore for the quarter ending March 2016, making it the biggest ever quarterly posted by an Indian bank in the industry.
New Delhi: In a move that could spell more trouble for beleagured liquor baron Vijay Mallya, the Enforcement Directorate(ED) today registered a frrsh money laundering case against him based on an FIR filed by the
New Delhi: Bad loans at public sector banks have increased to Rs 2.67 lakh crore at the end of March 2015 from Rs 2.16 lakh crore a year ago, minister of state for finance Jayant
New Delhi: Finance Minister Arun Jaitley will meet PSU bankers to discuss stake sale plans and the problem of rising bad loans which have crossed a staggering Rs 2.5 lakh crore.“Banks are coming to meet
Chennai: Government-owned lender Indian Overseas Bank (IOB) on Thursday reported a whopping net loss of Rs.516 crore for the quater ended Dec 31, 2014 as against a net profit of Rs.75 crore earned for corresponding
Pune: Reserve Bank Governor Raghuram Rajan today made a strong case for cleaning up bad debts of banks and restructures other possible NPAs within a year to put the economy back on track.He also favoured
New Delhi: The United Forum of Bank Unions (UFBU), an umbrella body of some nine bank unions in the public sector banking industry (and in some old generation private banks), is on all India strike
Hyderabad: A trainee police officer drowned in a swimming pool at Sardar Vallabhbhai Patel National Police Academy (NPA) here late Thursday night, sources said.Manu Mukt Manav, a trainee Indian Police Service (IPS) officer belonging to
Mumbai: Top banker Chanda Kochhar has said there can be some addition to the non-performing assets (NPAs) of banks during the current fiscal, but the worst appears to be over. “There will be some addition to
Mumbai: State-run Central Bank of India today reported a decline of 4 per cent in net profit to Rs 162.44 crore for the January-March period due to rise in non-performing assets.The bank had reported a
New Delhi: State Bank of India (SBI) will sell bad loans amounting to Rs.3,000 crore in the last quarter of the ongoing fiscal, chairman Arundhati Bhattacharya said here on Saturday.“We will sell bad loans of
Kolkata/New Delhi: Archana Bhargava, chairman and managing director of United Bank of India, resigned here, on Friday. Bhargava, who joined the Kolkata-based bank 10 months ago, quit on medical grounds, finance ministry officials said.The bank
Mumbai: Country's largest bank SBI today said the Rs 11,200-crore budgetary allocation for state-run banks' recapitalisation for FY'15 may not be sufficient given the systemic credit growth and migration to the capital-intensive Basel-III framework.“The proposed
New Delhi: Finance Minister P Chidambaram today proposed to infuse Rs 11,200 crore in public sector banks to enhance their capital in the next financial year."In 2014-15, I propose to provide Rs 11,200 crore for
Mumbai: The Reserve Bank today allowed banks to refinance existing infrastructure project loans through take-out financing agreements with any financial institution. “Banks can refinance their existing infrastructure project loans by entering into take-out financing agreements
Mumbai: The banking system's slippage to recovery and upgradation ratio has shot up to 257 as of March 2013 from 217 in March 2011 as banks have failed to implement efficient and speedy measures for
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