Recently one of the leading English Dailies published the statistic pertaining to the criminal cases being faced by the sitting legislators of Madya Pradesh Vidhan Sabha which has given a glimpse of what is the reality of the political scenario of the Indian electoral system. As per the statistic, out of the total 230 sitting […]
Deregulation and liberalization of Indian financial sector call for effective and crucial risk management and internal control system in the conduct of banking business especially after the recent unsavory incidents of fraud and cheatings by some of the prominent borrowers causing a grave crisis in the financial market.
Every one of us aspires to achieve what we desire. We dream about it. The only force that drives us to realise our dream is our hope that we will achieve it one day. Hence, hope is the sustaining power of the life. Hope is the indispensable power that motivates us to act. Mere hope […]
The old dictums Prevention is better than cure and A stich in time saves nine are very much applicable and relevant in the matter of classifying the account as Non-Performing Asset (NPA).
If anybody asks me, Whom do you think the most important person alive in your life so far? Then my answer is that I am the most important person in my life. If we dispassionately look at the question devoid of prejudices and vested interests and with proper application of our mind, the answer can be only one.
Amendment to SARFAESI Act introduced in 2013 brought out certain changes in the Act wherein under section 14 compulsory filing of an affidavit by the secured creditor through their Authorised Officer with the District Magistrate / Chief Metropolitan Magistrate, as the case may be, to take possession of the secured assets is introduced.
Finance Minister Piyush Goyal said that the Government has accepted a report submitted by a committee of bankers led by Punjab National Bank Chairman Mr. Sunil Mehta to set up an Asset Management Company (AMC) for the resolution of loans. They will also set up Alternate Investment Funds to raise money to back the AMC.
The most important aspect in credit appraisal and assessment and monitoring in banking is the capacity of the sanctioning, monitoring, and reviewing authorities to take timely decision based on the performance of the past and the prospects of the future to meet the challenges of the present so as to prevent the account becoming Non-Performing Asset (NPA).
Recently Mr. Piyush Goyal, Finance Minister, announced setting up of a committee to give recommendations in two weeks on formation of an asset reconstruction company for faster resolution of stressed assets besides mooting the idea of BAD BANK.
The great jewel scam that is rocking the nation has opened up a Pandora Box on how the banks have become soft target for unscrupulous scam creators in connivance with the bank officials. It is apparent from the modus operandi of the operations that it is a systematic, well conceived and planned loot of the Indian Banking system.
