IDBI Bank loss at `3,602 cr; Central Bank posts loss of `923.60 crore
While we cannot do without loans in our financial portfolio, timely repayment is much needed to stay financially fit.
Sebi also said the CRAs should disclose parameters such as liquid investments or cash balances, access to any unutilised credit lines and adequacy of cash flows in a specific section on liquidity.
The Ministry of Corporate Affairs had approached the appellate tribunal after the Mumbai bench of National Company Law Tribunal (NCLT) turned down its plea to grant 90-day moratorium over the loans taken by IL&FS and its subsidiaries.
Specific relaxation in RBI regulations likely to provide breathing space to firms
Jaitley said there is a need to bring down non-performing assets (NPAs) in the banking system in order to strengthen the banking system and support growth.
According to the global financial services major, the recent second quarter earnings of Indian banks showed some positive signs with a slight improvement in asset quality.
Notably, the Reserve Bank of India had imposed additional restrictions on the bank under the Prompt Corrective Action framework in May this year.
The total value of such transactions in 2017-18 stood at Rs 299.3 lakh crore up 64.64 per cent from Rs 181.7 lakh crore in 2015-16.
IndusInd Bank, which has an exposure of over Rs 3,000 crore, said it would have to classify the company’s account as a non-performing asset, if the interest part is not paid.
Shares of SBI rose as much as 5.06 per cent on the BSE in intra-day trade on Monday, before ending at Rs 295.30, up 3.45 per cent.
Marathe, Gupta and former CEO and MD Sushil Muhnot were arrested by the Pune City Police on June 20 in connection with the Rs 2,043-crore fraud case against Pune-based DSK Group.
Domestic net interest margin at 2.46%, down 44 basis points from 2.9% in Q1
Meanwhile, the International Monetary Fund (IMF) has said it was monitoring the reported rift between the RBI and the finance ministry, and stressed its usual opposition to any move that compromises the independence of central banks anywhere in the world.
Move aimed at improving liquidity amid complaints of fund squeeze in the wake of IL&FS defaults
In his paper, Raghuram Rajan said that when monetary policy in source countries tightens, receiving-country exchange rates depreciate, and liquidity dries up in their corporate sector even if country prospects are sound.
Sources privy to the development said the government had sent at least three letters on different issues under Section 7 of the RBI Act that gives it powers to issue any direction to the central bank governor on matters of public interest.
Total income during the September quarter stood at Rs 11,256.96 crore, up from Rs 9,007.37 crore in the same period previous fiscal.
This Dhanteras, assess your financial holdings and set your goals to determine the appropriate investment for you.
Section 7 of the RBI Act, 1934 allows the government to issue directions to the RBI, after consultation with the Governor of the bank, on issues of public interest.