Corporate Law : The present article discusses Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARF...
Fema / RBI : RBI has recently introduced new rules for bad loans provisioning, aiming to enhance quality of bank assets & bolster overall banki...
Fema / RBI : Understanding the distinction between NPAs and inherent weaknesses is crucial for financial health. This exploration sheds light o...
Corporate Law : Securitisation and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (SARFAESI) is basically...
Fema / RBI : आखिरकार एसबीआई के चेयरमैन खारा ने 28/01/2022 को पुष्टि क...
Fema / RBI : Gross non-perofrming assets (NPAs) improves from 11.33% in FY2017-18, to 13.52% in FY2018-19, to 14.69% in FY2019-20 As per Reserv...
Fema / RBI : ABG Shipyard was incorporated on 15 March 1985, has been banking arrangements since 2001. Financed under Consortium arrangement ov...
Fema / RBI : Gross non-performing assets of scheduled commercial banks have declined As per Reserve Bank of India (RBI) data on global operatio...
Fema / RBI : We advise that as per the circular dated April 17, 2020 on asset classification and provisioning, in respect of all accounts class...
Fema / RBI : Loans written-off from Balance Sheets of PSBs; As A result of Government’s 4R’s Strategy of Recognition, Resolution, Re-capita...
Fema / RBI : Reserve Bank of India RBI/2022-23/130 DOR.ACC.REC.No.74/21.04.018/2022-23 October 11, 2022 Madam / Dear Sir, Reserve Bank of India...
Fema / RBI : The extant instructions on IRACP norms specify that an amount is to be treated as overdue if it is not paid on the due date fixed ...
Fema / RBI, Income Tax : Banking Regulation (Amendment) Ordinance, 2017 enables the Union Government to authorize RBI to direct banking companies to resolv...
Fema / RBI : Accordingly, Reserve Bank of India hereby permits Regional Rural Banks to open branches in Tier 3 to Tier 6 centres (with populat...
Accordingly, Reserve Bank of India hereby permits Regional Rural Banks to open branches in Tier 3 to Tier 6 centres (with population up to 49,999 as per Census 2001 – details of classification of centres tier-wise furnished in Annex II) without having the need to take permission from Reserve Bank of India in each case, subject to reporting, provided they fulfil the following conditions as per the latest inspection report.
Public sector banks in India had combined gross non-performing assets (NPAs) of Rs 57,301 crore during 2009-10, up 30 per cent from the previous fiscal, Parliament was informed on Tuesday. NPAs comprised 2.27 per cent of public sector banks’ (PSBs) g
It true that the Banks suffer a lot in recovering the outstanding dues from the borrowers in the absence of special enactment like SARFAESI Act and the object of the enactment is really laudable. It is a procedural change basically to enable the Banks to recover the loans speedily and in my opinion, it is not the intention of the legislature to put the borrower remediless if they are really aggrieved at the action initiated by the Banks under SARFAESI Act, 2002.
The Government of India has approved the Operational Guidelines for the Swavalamban Scheme which was announced by the Union Finance Minister in his speech of 2010-11. The Scheme is applicable to all citizens in the unorganised sector who join the New Pension Scheme (NPS) subject to their meeting the eligibility criteria.
The profitability of RRBs, as a segment, has been improving. However, some of the factors responsible for losses in RRBs are identified as : low recovery, high NPA, low business level, low productivity per branch and per staff, high cost structure, poor financial management, limited area of operation, non-viable level of operation in branches located in resource-poor areas etc. Further, one of the RRBs, namely Puduval Bharthiar Grama Bank, which was set up in March 2008, has not yet reached a breakeven point;
The assessee, a NBFC, made a ‘Provision for NPA’ in terms of the RBI Directions 1998. It claimed a deduction for the said provision u/s 36 (1)(vii) on the ground that as it was debited to the P&L Account and reduced the profits, it was a ‘write off’. In the alternative, it was claimed that there was a diminution in the value of its assets
Also, there have been incidents where mortgaged properties were auctioned off at “undervalued” prices, the sources said. The meeting is to find out whether there was any actual mischief or if it was due to practical difficulties in finding a buyer to pay a higher value for the property as the registered value shown on paper would have been lesser than its actual value, they added.
CAPITAL adequacy ratio—the minimum amount of capital banks have to set aside while lending—of Indian banks would continue to remain higher than the minimum regulatory requirement of 9% even if sticky loans, or NPAs, were to more than double. Addressing a seminar at the the London Business School on Thursday, RBI deputy governor Rakesh Mohan […]
The Reserve Bank of India (RBI) has informed banks that some of the modifications allowed to facilitate restructuring of non-performing assets(NPA) in view of the ongoing downturn in the Indian economy will be withdrawn from July 1 2009. “The circulars dated December 8, 2008, January 2, 2009 and February 4, 2009 for restructuring of accounts […]
Members may note that mere receipt of an application for restructuring does not by itself makes the advance(s) referred to above qualified to retain its classification as Standard Asset(s).