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Addressing directors of UCBs in the financial capital at an RBI-organised conference, Das urged that such lenders should improve the governance standards, avoid related-party transactions and focus on credit risks, among others.
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In return, the concerned microfinance institutions shall issue "no due certificate" to the borrowers, thus making the latter credit-worthy again under the formal financial system.
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The RBI identifies 'wilful defaulters' as those who have the ability to pay a bank's dues but do not or divert bank funds.
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The ministry apprised the Parliamentary panel that delays are typically longer for renewable developers than conventional generating companies, even if they are within the same utility.
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He also stressed that the Board's role is pivotal in establishing a robust IT and cybersecurity infrastructure and availability of requisite skills at the bank level.
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Minister of State (MoS) Finance Bhagwat Karad informed Parliament that Banks in India have recovered non-performing assets worth Rs 10.16 lakh crore on an aggregate basis in the past nine years.
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The hotels availed credit facility from banks for business purpose but diverted the same for their personal use
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Speaking at the Dikshant Parade of the 72nd batch of the NPA, Rai also called for active work towards community policing initiatives for better engagement with the people.
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For the full year 2020-21, BoM's standalone net profit jumped nearly 42 per cent to Rs 550.25 crore. I
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The e-auction for these two accounts will take place on July 7, 2021.
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The lender, in a notification, said it intends to sell these NPA accounts to asset reconstruction companies (ARCs) / banks / NBFCs or other financial institutions (FIs) on 100 per cent cash basis.
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The case was booked against the company managing partners - Ramjee Adalla and Peddapati Padmavathi, and another person Santosh Yadav
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Moratorium should be extended up to March 2022 on all EMIs of term loans as well as interest on cash credit accounts.
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The soaring NPAs, despite several interventions like Dispute Resolution Tribunals, Asset Reconstruction Companies and Insolvency and Bankruptcy Code, now get another pill
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During the quarter under review, net interest income rose 19 per cent to Rs 27,067 crore, from Rs 22,767 crore in the same period a year ago.
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TSCAB has set a business target of Rs 15,000 cr for 2021-22 FY and had so far done business of Rs 11,300 cr, informed MD, Dr N Muralidhar
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The bank had registered a net profit of Rs 105.52 crore in the year-ago period.
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On a standalone basis, the country's second largest private sector lender by assets showed a 19.12 per cent rise in the post-tax profit at Rs 4,939.59 crore for the reporting quarter
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The bank had said that a total of over Rs 18,551 crore of its Rs 1.69 lakh crore of advances were in some stress as of December 31, 2020.
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Creation of actuarial credit risk reserve instead of a bad bank is a more feasible option