State Bank Of India Chief Rajnish Kumar

BharatPe co-founder Ashneer Grover attacked former State Bank of India (SBI) chairman Rajnish Kumar and said 'delivering nothing and creating a deflection to hide behind is the easiest'

The State Bank of India can be taken to the next level by transforming it into a marketplace to meet the financial needs of its corporate clients across the value chain

India Ratings had earlier said banks may have to restructure loans worth Rs 8.4 trillion

He also reiterated that the Insolvency and Bankruptcy Code (IBC) is not a recovery mechanism for lenders, but rather a means to preserve the value of enterprises

The NPAs of public sector banks (PSBs) under the Mudra scheme stood at 4.9 per cent in 2019-20 - a big jump from 3.7 per cent in 2018-19 and 3.4 per cent in 2017-18

Govt will take final call on appointment of SBI chairman. If selected, Khara would succeed Rajnish Kumar, whose term ends in October

C S Setty, another MD at the state-owned lender, has been recommended as the reserve candidate

Leading bankers welcome term loan installment moratorium announced as economic relief

We believe most customers would start paying EMIs from September as the moratorium comes to an end, said Rajnish Kumar

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues

Valuation of the stressed assets facing insolvency proceedings is unlikely to be impacted with the Ordinance that debars promoters who have been tagged as willful defaulters from bidding for such assets, SBI chairman Rajnish Kumar said. The President today gave his assent to the Ordinance amending the Insolvency & Bankruptcy Code, 2016. The Ordinance keeps out those promoters who have willfully defaulted on their debt obligations or are habitually non-compliant and, thus are likely to be a risk to successful resolution of the insolvent company. The new law will also make ineligible those who have their accounts classified as non-performing assets for one year or more and are unable to settle their overdue amounts with interest and penal charges before the submission of the insolvency resolution plan. "The changes in the law will not bring down the valuation of the assets under resolution because there is lot of interest in these assets. Valuation has nothing to do .