Banking Sector Stares At Additional Rs. 40,000 Crore NPAs

New Delhi: The banking sector fears accretion of more than Rs. 40,000 crore of bad loans to its books following recent classification of eight consortium accounts of Axis Bank as non-performing assets by the RBI. The Reserve Bank has directed certain reclassifications in the private sector lender’s asset classification and provisioning as on More...

by Loknath Das | Published 14 hours ago
By Loknath Das On Monday, November 20th, 2017
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Punjab National Bank Q2 Profit Beats Estimates, Shares Surge

State-run Punjab National Bank, the country’s fourth-biggest lender by assets, reported a 2 per cent rise in second-quarter profit, beating forecasts. Its shares rose over 5 per cent to Rs. 208 at day’s More...

By Loknath Das On Friday, November 3rd, 2017
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State Bank of India reduces lending rates on home and vehicle loans

India’s largest lender State Bank of India (SBI) on Thursday announced reduction of interest rates on home and automobile loans by five basis points (bps). In a statement issued in Mumbai, the bank said it has More...

By Loknath Das On Monday, October 30th, 2017
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RBI likely to cut rates in December 6 policy review: Report

The Reserve Bank is likely to cut rates at its December 6 policy review meet as retail inflation remains muted and the October number is expected to be about 3.3%, says a report. “We continue to expect the RBI More...

By Loknath Das On Thursday, October 26th, 2017
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Sensex, Nifty hit historic high, banks steal show after govt’s recapitalisation plan

The BSE Sensex on Wednesday soared to the life-time high of 33,117.33 and the NSE Nifty scaled the historic 10,340.55 mark in opening trade as banking stocks rallied after the government announced a mega Rs 2.11 More...

By Loknath Das On Thursday, October 26th, 2017
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Rs 2.11-lakh cr bank recap may make fiscal deficit target hard to achieve: Fitch

The massive Rs 2.11 lakh crore capital infusion in public sector banks may make the 3.2% fiscal deficit target for 2017-18 difficult to achieve if two-thirds of the planned recapitalisation bonds are issued by More...

By Loknath Das On Sunday, October 22nd, 2017
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Bajaj Holdings Q2 Consolidated Profit Rises 19% To Rs. 834 Crore

New Delhi: Bajaj Holdings and Investment Ltd (BHIL) Tuesday reported a 19 per cent rise in its consolidated profit after tax (PAT) at Rs. 834 crore for the September quarter of the current fiscal. The company’s More...

By Loknath Das On Sunday, October 22nd, 2017
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RBI Says Linking Aadhaar Number To Bank Accounts Mandatory

Mumbai: The Reserve Bank of India (RBI) on Saturday dismissed media reports that it was not necessary to link national identity card numbers, known as Aadhaar numbers, to bank accounts. It said in a statement the More...

By Loknath Das On Sunday, October 22nd, 2017
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Banking Sector Stares At Additional Rs. 40,000 Crore NPAs

New Delhi: The banking sector fears accretion of more than Rs. 40,000 crore of bad loans to its books following recent classification of eight consortium accounts of Axis Bank as non-performing assets by the RBI. The More...

By Loknath Das On Saturday, October 7th, 2017
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RBI lowers growth forecast to 6.7%, holds repo rate citing risk to inflation

Home and auto loan rates are unlikely to change, after the Reserve Bank of India (RBI) left its key policy rate unchanged on Wednesday, citing higher risks to inflation. The central bank slashed its growth forecast More...