In the last June-quarter, government-owned banks recovered only Rs 1,416 crore from loan defaulters while adding more than twice that amount by way of non-performing assets during the same period. Such recoveries have mostly come from smaller borrowers, even as the Union Finance Ministry is focused on the top 30 non-performing accounts in public sector banks.
Category: Infrastructure Finance
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Chidambaram to initiate fresh fiscal reforms
Stressing the need of foreign investments' flow into the country, the Union Finance Minister P Chidambaram on October 24 hinted at introducing fresh round of financial sector reforms.
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RBI may hike repo rate by 25 bps
In its continues fight against inflation, the
Reserve Bank of India (RBI) is likely to raise the repo rate by another 25 basis points. The RBI Governor Raghuram Rajan is expected to take this measure when he makes his next monetary policy announcement on October 29, several economists say.
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Gujarat to ask for higher share in Central taxes
When the fourteenth Finance Commission visits Gujarat for two-days on October 28 and 29, the State government will demand for higher allocation of Central taxes from the Commission. The State government will submit a memorandum demanding higher allocation of Central taxes to the state.
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RBI tightens norms for UCBs to utilise ‘at par’ cheques
The Reserve Bank of India (RBI) has tightened norms for utilising 'at par' cheques issued by scheduled commercial banks (SCBs) to cooperative banks for better transparency and supervisory control over co-operative banks.
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Banks will come out of problems: Catholic Syrian Bank
Catholic Syrian Bank has hoped that banking industry in the country will be able to overcome problems of bad loans and credit squeeze and regain its past glory in a short time.
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RBI to auction inflation indexed bonds on Oct 30
The Reserve Bank of India has announced the sale 1.44 per cent inflation indexed 'government stock-2023' for a notified amount of Rs 10 billion through price based auction, say media reports. The auction will be conducted by the Reserve Bank of India on October 30.
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Banks borrowed Rs 33,829 cr via RBI’s MSF
Media reports indicate that Indian banks borrowed Rs 33,829 crore ($5.5 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on October 22, lower than the Rs 451.26 crore on October 21.
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YES Bank’s profit up 21.3%
Aided by higher interest income and growth in non-interest income, YES Bank's net profit for the quarter ended September increased 21.3 per cent to Rs 371.1 crore, against the corresponding period last year, the bank said on October 22.
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Govt to infuse Rs 14,000 cr capital into banks
To augment capital base of its public sector undertaking banks, the Union Finance Ministry on October 22 finalised a Rs 14,000-crore infusion plan, the Union government announced on October 22. The Union Finance Minister P Chidambaram said this after meeting the heads of PSU banks in Delhi.