Free Press Journal
  • Chidambaram slams PM Modi, asks to reveal number of bad loans under NDA rule

    New Delhi: Former Finance Minister P Chidambaram on Sunday slammed Prime Minister Narendra Modi for his remarks about bad loans generated during UPA rule, and asked his government to disclose loans given during the NDA rule that turned into Non-performing assets (NPA).

  • Banker, scamster and hidden hand make merry

    There is a sense of disquiet among India’s policy-watchers. Such anxieties were confirmed when they saw the data presented before the Lok Sabha on 3 August 2018 (see chart).  The government pointed out that in 2017-18 alone, there were 5,897 instances of bank-fraud that had come to light and were being investigated. Together, they involve a sum of Rs 32,048.65 crore. As can be seen, the number of instances of frauds and

  • SBI reports loss of 4,876 crore for June quarter due to higher bad loans

    New Delhi: The country’s largest lender SBI today reported a hefty loss of Rs 4,876 crore for the June quarter due to higher bad loans. The bank had earned a net profit of Rs 2,006 crore in the April-June period of the previous fiscal, SBI said in a regulatory filing.

  • Videocon-ICICI loan case, CBI, Chanda Kochhar, Chanda kochhar's brother in law, Rajiv Kochhar, CBI inquiry, ICICI, Videocon

    ICICI Bank posts first loss in decade over bad loans

    Mumbai : Private sector lender ICICI Bank on Friday posted its first quarterly loss, in at least a decade, as it had to set aside more funds as provisions to cover bad loans. The June quarter loss stood at Rs 120 crore.

  • Abandoned Jharkhand power plant may bleed Indian banks by USD 38 billion

    Mumbai: An abandoned Jharkhand power plant could be the new bloated bad asset around the neck of Indian banks. Only this time, the bad loans that have stacked up are touching a staggering $38 billion, according to a report in Bloomberg.

  • Bad loans: Advantage NBFCs & private banks

    Last week, in his annual letter to shareholders of Kotak Mahindra Bank, Uday Kotak, the managing director, stated that private sector banks could increase their market share to as much as 50%. Till a few years ago, private sector banks were expected to carve out a market share of around 32% by 2025.

  • NPAs to rise by Rs 8k cr over Gitanjali Gems fraud

    New Delhi : Non-performing assets (NPAs) or bad loans in the banking sector are set to shoot up by at least Rs 8,000 crore as advances to the scam-hit Gitanjali Gems group have turned bad during the quarter ended March 31.

  • Banking sector stares at additional Rs 40K cr NPAs

    New Delhi : The banking sector fears accretion of more than Rs 40,000 crore of bad loans to its books following recent classification of eight consortium accounts of Axis Bank as non-performing assets by the RBI. The Reserve Bank has directed certain reclassifications in the private sector lender’s asset classification and provisioning as on March 2017, subsequent to the annual Risk Based Supervision (RBS) exercise conducted for 2016-17. As a result, Axis

  • Resolving the bad loans challenge…

    Cabinet approved promulgation of an ordinance to amend the Banking Regulation Act, specifically section 35A in a move towards resolution of the NPA crisis facing public sector banks. Indian banks are suffering from stressed assets and incurred considerable losses due to mounting bad loans. Banks pressurized under stressed assets are not able to perform their banking functions of lending effectively. The credit growth of the banking sector has exhibited a reduction partly due to

  • Arun Jaitley

    Armed with NPA ordinance, RBI gets teeth to battle bad loans

    New Delhi : President Pranab Mukherjee promulgated an ordinance authorising the Reserve Bank of India (RBI) to issue directions to banks to initiate insolvency resolution process in the case of loan default.

  • Arun Jaitley

    Cabinet approves ordinance to amend Banking Act to tackle NPAs issue

    New Delhi : The government will shortly come out with an ordinance to empower the Reserve Bank to effectively deal with the problem of mounting bad loans in the banking sector. A proposal to amend Section 35 A of the Banking Regulation Act through the ordinance route was approved by the Cabinet headed by Prime Minister Narendra Modi, sources said.

  • Government asks PSU banks to do forensic audit of defaulters, and, may also shuffle heads of PSU banks

    The government is considering a proposal to shuffle the heads of some public sector lenders, including IDBI Bank, to improve their performance and resolve the issue of bad loans. “There is a proposal for swapping of MD level position in banks which is being looked into. Final decision would be taken after careful consideration,” said a source.

  • Rajan voices concerns over govt’s bad bank proposal

    Mumbai: With the government going ahead with the idea of creating a bad bank, Reserve Bank today made its concerns clear on the ownership of such a vehicle to tide over the bad loan menace, saying the lenders should hold a minority stake in any stressed assets fund.

  • Loans

    Govt for prudent settlement of bad loans, empowering PSBs

    New Delhi: Committing to support NPA-ridden public sector banks, Finance Minister Arun Jaitley today said they would be empowered and protected in case of “commercially prudent” settlement of bad debts.

  • NPA’s : Who took the Bank’s Money?

    The concept of non-performing assets (NPAs), or bad loans in everyman’s language, is nothing new for the banking sector.