In an official statement, Reserve Bank of India (RBI) said banks must make 3.75 percent provisioning, from March 31, 2014, for loans already restructured. The provisioning would rise further to 5 percent with effect from March 31, 2015, the statement said. The central bank also said that with effect from April 1, 2015, restructured accounts would be immediately classified as sub-standard. Non-performing asse
Tag: Non-Performing Assets
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Ministry gets request for full tax break on provisioning
At a pre-Budget meeting with Finance Minister P Chidambaram, several banks have sought full deduction for income-tax purposes on the provisions made by them for bad and doubtful debts. If the request is accepted by the government, it would benefit banks in a big way at a time when non-perfo
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Infrascape 2013 | Real Estate Bill to increase transparency
Given that there are confĆĀusing signals from our economic data, we are hoping that there will be some policy easing, which will help our cause. Policy initiatives: The introduction of legislation such as the Real Estate Bill is expected to increase transparĆĀency and boost investor confiĆĀdence in the Indian market.
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Gross NPAs of state-run banks rise
Minister of State for Finance Namo Narain Meena informed Lok Sabha that the gross non-performing assets (NPAs) of public sector banks have increased from 2.28 per cent in March 2010 to 4.01 per cent in September 2012. During the same period, the gross NPA (as a percentage of gross advances) of SBI Group, rose from 2.82 per cent in March 2010 to 5.16 per cent in September 2012,
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Firms seek debt recast for 2nd time
More and more companies are applying for second round of corporate debt restructuring (CDR) because of their inability to service loans, a report by brokerage firm Prabhudas Lilladhar shows. The report shows that not only is the number of debt-restructuring proposals reaching CDR cell on the rise, the quality of cases is
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NPAs of state-run banks rise to Rs 1.43 trillion
The non-performing assets (NPAs) of state-run banks rose to Rs 143,765 crore as at end September, 2012 from Rs 112,489 crore at the end of March, 2012, Minister of State for Finance Namo Narain Meena informed the Rajya Sabha. Of the total gross NPAs of state-run banks, 31.9 per cent belon
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Default rate at ten-year high of 3.4 per cent: CRISIL
Credit quality pressures have intensified for IndiaĆ¢ā¬ā¢s corporates in 2011-12 (refers to financial year April 1 to March 31). Instances of default by CRISIL-rated entities increased to 188, the highest for any year.
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SEZ: The Dealmakers' Dealbreaker
The government's highly motivated optimism on SEZs is not reflected among the practitioners, and it should come as small surprise that after a lengthy wild goose chase by our office, the Commerce Ministry officials kept bouncing us around from bureaucrat to another, confusing matters, and in effect dodging hard questions.
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