Falling output at the Reliance Industries' (RIL) KG D6 basin affected natural gas supply to Ratnagiri Gas & Power's (RGPPL) 1,967 mw Dabhol power plant in Maharashtra. Consequently, power generation has been stopped at the plant since February 21. Following this, MahaVitaran, which procures 95 percent power, stopp
Tag: loan
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Bank credit rises faster than deposit
Bank credit rose Rs 103,318 crore during January 1 to February 22, more than deposit growth of Rs 88,062 crore, data from Reserve Bank of India (RBI) shows. The incremental credit-deposit ratio is at 117 per cent, clearly pointing to the pressure in the banking system to garner resources. During the fortnight ending February 22, bank credit grew Rs 26,200 crore, while deposits declined Rs 9,200 crore
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Govt’s Rs 1.9 trillion debt recast scheme fails to enthuse SEBs
Reports indicate that the Rs 1.9 lakh crore debt restructuring package announced by the central government for state electricity boards (SEBs) has not received much response. It is learnt that no major state has yet entered into a memorandum of undertaking (MoU) with the centre for debt recast. states such as Rajasthan are negotiating with ban
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Bad loans of banks rises
According to the Economic Survey 2012-13, overall non-performing assets (NPAs) of the banking sector rose from 2.36 per cent of total credit in March 2011 to 3.57 per cent in September 2012. Slowdown and the high leverage levels have caused loans to a few industry and infrastructure sectors turning NPAs, the survey notes. Sectors particularly under
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S&P expects improvement in bank performance in FY15
Ratings agency Standard & PoorĂâs (S&P) expects the performance of Indian banks to improve only in 2014-15. The agency feels that till then the banking sector would continue to face hurdles, in terms of asset quality and earnings. In 2013-14, the agency expects improvement in the economic growth and corporate performance aided by vario
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SBI lends Rs 62 bn to Visakhapatnam Steel Plant
Visakhapatnam Steel Plant borrowed Rs 6,200 crore from the State Bank of India (SBI) in order to finance its business expenditure. Speaking to reporters, Pratip Chaudhuri, Chairman of SBI said the bank's loan to the RINL Ăâis the biggest contribution it is making to the industrial development of this
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Care expects banks to recast Rs 577 bn worth loan
According to a report by ratings agency Care, banks in the country would restructure new loan worth Rs 57,782 crore and this would raise the total recast loan book to Rs 312,022 crore next fiscal (2013-14). The report expects banks to carry out most of the restructuring in pipeline during the fourth quarter of this fiscal and through next fiscal if the draft RBI guidelines on re
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Care expects banks to recast Rs 577 bn worth loan
According to a report by ratings agency Care, banks in the country would restructure new loan worth Rs 57,782 crore and this would raise the total recast loan book to Rs 312,022 crore next fiscal (2013-14). The report expects banks to carry out most of the restructuring in pipeline during the fourth quarter of this fiscal and through next fiscal if the draft RBI guidelines on re
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Minister suggests lenders to offload loans to IDF
Banks must hand over their loan for infrastructure projects to Infrastructure Debt Funds (IDFs) once the projects are completed so that banks can get funds to lend to fresh projects. Finance Minister P Chidambaram suggested this to banks recently. IDF provides long term finance through the lif
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State-run banks may get around Rs 200 bn from govt
Media reports suggest that the government may infuse around Rs 20,000 crore into state-run banks in 2013-14 so that they comply with the capital adequacy conditions of Basel III norms. It is learnt that public sector banks (PSBs) have demanded the above amount for the next financial year from