The Insurance Regulatory and Development Authority of India cleared the proposal 2 weeks ago.
A major chunk of the NPAs are accounted by Life Insurance Corporation (LIC), the largest insurer in the country.
Wage revision for IDBI Bank employees are pending since November, 2012. They had threatened to go on strike last year but later it was called off following assurance from the management.
In FY18, farm loan waivers touched 0.32 per cent of the GDP as against budget estimates of 0.27 per cent, the RBI said, adding that more such moves are pending for the fiscals ahead.
Deposing before the Estimates Committee of Parliament, outgoing Chief Economic Adviser Arvind Subramanian Wednesday expressed scepticism over the handling of the issue of mounting non performing assets (NPAs) of banks. Subramanian was not sure that the NPA issue would be resolved within a year or two, as bankers claimed. He felt a lot more needs […]
The banking sector is grappling with rising non-performing assets, which touched Rs 8.99 lakh crore or 10.11 per cent of total advances at December-end 2017. Of the gross NPAs, the public sector banks accounted for Rs 7.77 lakh crore. The rising number of frauds has become a serious cause of concern.
In April 2018, the proposed three-year term of Shikha Sharma as MD & CEO of Axis Bank was cut to just 7 months following the RBI’s directive to the board to reconsider her three-year term.
Preferential allotment is a process by which allotment of shares is done in bulk by the company to a select group of investors.
The gross non-performing asset (NPA) ratio reducing marginally to 1.15 per cent from 1.17 per cent and the net NPA ratio remained flat at 0.51 per cent.
The CBI and the ED are called as they are investigating various cases of NPAs and complaints against senior bank officials related to sanctioning of loans.
KIE observed, adding that retail-oriented banks, such as HDFC Bank, IndusInd Bank and City Union Bank, are likely to report stable performance.
Sources said the MHA has voiced concerns that ICBC — the world’s largest bank by total assets — has employed more than the authorised number of Chinese nationals at its existing Mumbai branch.
In its 'Ecowrap' report, which was released on Friday, SBI said while the move would address farmer distress in the country, the immediate fallout of the announcement would be a rise in inflation by 73 basis points.
The decline is attributed to the change in loan mix towards short-duration consumer loans like credit cards, personal loans and consumer durable loans.
This was decided in a day-long meeting of the leading banks, which was also attended by Finance Minister Piyush Goyal and representatives of the Indian Banks Association.
The RBI said it reserved the right to not approve appointments of such auditors for a specified period if their audit quality was not found satisfactory.
The regulators have not allowed banks and housing finance companies to fund land transactions, yet non-banking financial companies (NBFCs) and private equity players are permitted to do so in the past 12 years.
PNB posted a net loss of Rs 13,416.91 crore for the January-March quarter, the biggest ever by any domestic lender.
There were 56 functioning RRBs with total credit outstanding of Rs 2.28 lakh crore as on March 31, 2017.
YAMIL is expected to launch fund offerings across the spectrum of both debt and equity markets over the next 6-12 months.