Punjab & Sind Bank and Indian Overseas Bank have put up over 20 non-performing accounts (NPAs) for sale, with a total principal outstanding of ₹500 crore, via a Swiss challenge auction
ESAF Small Finance Bank approves sale of ₹735 crore in stressed loans to ARCs, with over 90% provisioned; microfinance delinquencies continue to weigh on sector
Lenders have added about 25,000 beneficiaries under the Tarun Plus category of PM Mudra Yojana (PMMY) in a 4-month short period of FY25 where borrowers were given enhanced loans up to Rs 20 lakh. The scheme was announced by Finance Minister Nirmala Sitharaman in her last July Budget. As per the Budget 2024-25 announcement, loan limit was doubled to Rs 20 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the 'Tarun' category. Following the Budget announcement, the Tarun Plus scheme was notified on October 25, 2024. As many as 24,557 new borrowers took loan under the Tarun Plus category amounting to Rs 3,790 crore in a short period of four months during FY25, Financial Services Secretary M Nagaraju told media while briefing about achievements of PMMY. He further said that generally Rs 5-6 lakh crore loans are sanctioned under the scheme in a year of late. The PMMY was launched on April 8, 2015 by Prime Minister Narendra Modi with the goal of
Robust growth, recoveries & write-offs to offset rise in slippages
The dealing with internal factors would mean entities require more discipline and emphasis on corporate governance and compliance
Gross non-performing assets (NPAs) stood at 1.46 per cent at the end of the December quarter, and net NPAs stood at 0.35 per cent
Fintechs' portfolio outstanding in the riskier personal loans segments dropped by 10 per cent in the September quarter, a self-regulatory organization (SRO) for the sector said on Monday. In a data release -- which comes amid concerns on the personal loans front, which have even led to actions from RBI to curb lending in it -- Fintech Association for Consumer Empowerment (FACE) said the loan outstanding dropped to Rs 66,683 crore at the end of September compared to Rs 74,057 crore in June. The SRO said loans unpaid for over 90 days increased to 3.4 per cent from 3.2 per cent in June. West Bengal (4.1 per cent), Uttar Pradesh (3.7 per cent), Rajasthan and Gujarat (3.6 per cent) each had the highest incident of stress, it added. The first half of the fiscal witnessed a reduction in the average ticket size per borrower to Rs 9,225 against Rs 10,222 in FY24, it said, adding that 41 per cent of the loans in the first half were under Rs 25,000. Digital personal loans by Fintech NBFCs ..
The overarching theme of this year has been the RBI's new approach to vigilance
NARCL has been set up with a strategic initiative to clean up the legacy stressed assets with an exposure of Rs 500 crore and above in the Indian Banking system
Other income or non-interest income went up to Rs 2,684.19 crore from Rs 2,314.53 crore. Fees and services for Q2FY25 increased to Rs 2,312 crore, up 14 per cent
Additionally, the RBI, through a circular, instructed these lenders to ensure adequate controls over outsourced activities and third-party service providers
The private sector ARC has set a deadline of August 26 for interested entities to submit expressions of interest (EoIs) for the assets on offer
Capital markets regulator Sebi has segregated dues to the tune of Rs 76,293 crore under "difficult to recover" category at the end of March 2024, marking an increase of 4 per cent from the preceding year. Of this, a huge chunk is on account of cases pending before court-appointed committees. Difficult to recover (DTR) dues are those that could not be recovered even after exhausting all modes of recovery. "Segregation of such DTR dues is purely an administrative act and this will not preclude the recovery officers from recovering the amount so segregated as DTR as and when there is a change in any of the DTR parameters," Sebi said in its annual report for 2023-24. As of March 31, 2024, Sebi identified 807 cases as DTR, with a total outstanding of Rs 76,293 crore, up from 692 cases amounting to Rs 73,287 crore the previous year, according to the report. Among these 807 cases, 36 are pending due to ongoing proceedings in State PID courts, National Company Law Tribunal (NCLT), Nationa
NII was up 6% YoY to Rs 6,275 crore in Q1FY25, compared to Rs 5,915 crore in Q1FY24, aided by robust growth in advances
NIM fell 12 bps, both sequentially and Y-o-Y basis, to 3.35 per cent
Rao said that such events can destroy assets funded by institutional finance, thereby harming the financial health of these institutions
Loans to the sector slows down after accelerating in FY21, FY22
In public, bankers exude confidence and say everything is hunky-dory, but the rising defaults in a few pockets don't exactly suggest this
The official said banks will assess the impact of the draft rules on their balance sheets and can approach the RBI based on their assessment
Private sector lender IDBI Bank on Saturday reported a 44 per cent jump in net profit at Rs 1,628 crore in the March quarter of financial year 2023-24. In comparison, the bank had posted a net profit of Rs 1,133 crore in the year-ago period. Total income rose to Rs 7,887 crore in the period under review, from Rs 7,014 crore in the January-March period of fiscal year 2022-23. For the 2023-24 fiscal, net profit grew 55 per cent to an all-time high of Rs 5,634 crore. In 2022-23, the profit was at Rs 3,645 crore. Total income for fiscal year 2023-24 was at Rs 30,037 crore, up from Rs 24,942 crore in financial year 2022-23. Net Interest Income improved by 12 per cent in the March quarter to Rs 3,688 crore, as against Rs 3,280 crore in the fourth quarter of 2022-23. Net non-performing assets (NPA) ratio improved to 0.34 per cent as on March 31, 2024, as against 0.92 per cent as on March 31, 2023. The board of IDBI Bank has proposed a dividend of 15 per cent subject to shareholders'