High stock of non-performing assets in India, more progress needed: IMF

According to the International Monetary Fund(IMF),the level of non-performing loans in India remains high.IMF has favoured strengthening the level of capitalisation of some banks,particularly government-owned banks. Further,the IMF has said that strengthening the level of capitalisation in banks was one of the recommendations of the Financial Sector Assessment Programme (FSAP) for India. The Financial Sector… Continue reading High stock of non-performing assets in India, more progress needed: IMF

Lakshmi Vilas finds a new home in Indiabulls

The boards of Lakshmi Vilas Bank(LVB) and Indiabulls Housing Finance has approved the merger between the two to create what would be known as the ‘Indiabulls Lakshmi Vilas Bank’. The merger is subject to the approval of the Reserve Bank of India (RBI),as well as the grant of other regulatory approvals.The merged entity will have… Continue reading Lakshmi Vilas finds a new home in Indiabulls

RBI says there is no change of stance on February 12 circular

The Reserve Bank of India has clarified that there is no change in its stand with regard to February 12 circular on stressed assets recognition and resolution. In February 2018,RBI had put out a circular on classification of non-performing assets that required banks to (a)stipulates a one-day default rule on term loans.A borrower missing repayment… Continue reading RBI says there is no change of stance on February 12 circular

Central Bank of India to sell NPA’s worth Rs 3300 crores

Central Bank of India have decided to put non-Performing assets(NPA) worth Rs 3,300 crore on sale under the SARFESI Act.These assets are also under the National Company law tribunal(NCLT) resolution process. Non-performing assets(NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days.Banks are required… Continue reading Central Bank of India to sell NPA’s worth Rs 3300 crores