Page 40 - Indian Banks

SBI Card to enrol 'delinquent' customers in restructuring plans: MD

SBI Card is in the process of enrolling "delinquent" customers, who did not repay after the end of moratorium, in the RBI restructuring scheme or its own repayment plan to provide them more time for repayments, a top company official said. Due to the moratorium, a number of customers had not been paying for the first three months and the company treated them as standard accounts in line with the entire industry. However, since then, as the first moratorium ended, SBI Card made it a customer-led enrolment in the second moratorium in which a lot of customers did not enrol, SBI Card Managing Director & CEO Ashwini Kumar Tewari said. "Therefore, we had a large chunk of customers who came out of the moratorium. A lot of them paid up but many of them did not pay also. And these became what we call as more delinquent customers. "So with these delinquent customers, we are now working to enrol them either into the RBI restructuring scheme or our own repayment plans so that they get more ...

UCO Bank yet to undertake asset quality study, cites SC order for delay

UCO Bank MD and CEO A K Goel had earlier said the lender would like to ascertain its asset quality, once the moratorium period ceases on August 31

SC decision on Anil Ambani guarantee to decide fate of other promoters

Banks plan to invoke personal guarantees in 40 cases

Banks going to be catalysts of revival, says FM Nirmala Sitharaman

"At this stage, the catalysts for economic revival, the catalysts who have the pulse of every one of their customers, are banks," the finance minister said

RBI's loan restructuring scheme: Here's how it benefits you

The debt restructuring process involves a reduction of the interest rates on loans or an extension of its repayment tenure, or both

Loan recast: Things should be back on track in 2 years, says K V Kamath

In an interview to Abhijit Lele, Kamath said challenges faced by non-banking financial companies (NBFCs) should be dealt separately by the regulator

Increased risks for banks

Changes in priority sector lending should be revisited

Life after moratorium, for banks and borrowers

There are enough filters in the Covid-19 loan restructuring scheme to prevent misuse, but is it a tool to delay the growth in banks' bad loans? We will know after two years

Banks may restructure loans worth more than Rs 10 trn to 5-6 key sectors

Finance Minister Nirmala Sitharaman last week asked banks and NBFCs to roll out one-time loan restructuring scheme for Covid-19 related stress by September 15

RBI revises LFAR norms for banks to improve audit efficacy, risk management

The revised LFAR format will be put into operation for the period covering 2020-21 and onwards, the central bank said

Kamath panel to submit recommendations on debt restructuring today

The panel was formed to advise the RBI on the debt restructuring of corporate borrowers facing stress due to the pandemic.

IndusInd Bank raises Rs 3,288 cr via preferential issuance of shares

Route One Fund I, LP has received 71,59,788 shares (Rs 375 crore) and Tata Investment Corporation Ltd has been allotted 57,25,190 equity shares (for Rs 300 crore) of the bank

FM tells banks to frame loan recast scheme for all viable units by Sept 15

Lenders told to put in place FAQs on recast on their websites in multiple languages

Don't declare accounts NPA till further orders, says Supreme Court

A three-judge Bench will hear the case next on Thursday

FM to meet heads of banks, NBFCs to review loan recast scheme on Thursday

The Reserve Bank of India (RBI) last month permitted one-time restructuring of both corporate and retail loans without getting classified as a non-performing asset (NPA)

'Wounds in the loan-book are deep'

Indian economy is facing an unprecedented contraction in India's GDP in FY21, described as the "worst health and economic crisis in [the] last 100 years," by the RBI Governor

Unlock BFSI 2.0: Rajnish Kumar, Aditya Puri on their success mantra, more

Puri, who counts JP Morgan CEO Jamie Dimon as one of his inspirations, says the biggest challenge of his career was to scale up HDFC bank

Unlock BFSI 2.0: Early to predict the economic recovery curve: Bank CEOs

Top bank executives attempted to shed the tag of being risk-averse and averred that viable businesses would get the red carpet from lenders

CRISIL upgrades YES Bank's certificates of deposit from 'A2' to 'A2+'

YES Bank's total deposits increased to Rs 1.17 trillion (including CD) as on June 30 from Rs 1.05 trillion as on March 31

Unlock BFSI 2.0: Time for banks to look 'deeply within', says RBI Guv Das

Current pandemic-related shock has placed a greater pressure on banks, and this may lead to an erosion of their capital. Tune in to this podcast to know Governor Shaktikanta Das' take on the matter