Banks Recover Bad Loans

Finance Minister Nirmala Sitharaman said today that banks have recovered more than Rs 10 lakh crores from bad loans between 2014 and 2023, as part of the reforms process implemented by the Modi government.

Share price of IDBI Bank surged by around 7 per cent on Friday after the company's top executive expressed hope that the lender may recover around one-fourth of nearly Rs 78,000 crore of bad loans and the government is likely to speed up privatisation process.

Future's top financial creditors include India's largest lender State Bank of India, along with smaller rivals Bank of Baroda and Bank of India

ICICI Bank on Saturday reported a 36.22 per cent rise in net profit to Rs 2,599.15 crore in the quarter ended June 30 compared to the corresponding period a year ago, but missed analysts' estimates. Provisions for bad loans by the country's third largest private bank by market capitalisation rose sharply to account for the impact of the coronavirus...

The government on Friday announced a mega plan to merge 10 state-run public sector banks into four large entities to address economic concerns.

The Finance Minister said gross non-performing assets (NPAs) - or bad loans - have come down from Rs 8.65 lakh crore to Rs 7.90 lakh crore.

Of these 1,142, PNB has so far initiated recovery proceedings by filing suits against 1,108 defaulters to recover Rs 23,879.8 crore

Though keeping to the resolution timeline remains a challenge, the implementation of the IBC process is largely on track, said Crisil

The total recovery as of March-end stood at Rs 75,000 crore, against the total claim of Rs 1.75 lakh crore by financial creditors.

Banking Secretary Rajeev Kumar said PSU banks have recovered Rs 2.87 lakh crore since 2015.

Finance Minister Arun Jaitley said on Thursday that commercial banks were likely to recover Rs 70,000 crore of bad loans by the end of March, helped by resolution of 12 large cases. Some of the big cases, such as Bhushan Power and Steel, and Essar Steel India are in advanced stages of resolution, the finance minister said, adding that they are like...

Lenders have so far recovered 80,000 crore rupees from the resolution of 66 cases, Jaitley said.

Financial Services Secretary said the government would give funds to four to five banks under a PCA plan after considering their financial results.

A UK High Enforcement Officer is set to sell a fleet of Vijay Mallya's cars in the UK as part of efforts to recover loan repayment dues owed by the beleaguered liquor baron to a consortium of 13 Indian banks, the banks' legal representative confirmed on Friday.

A PNB spokesperson said on Thursday that "the submission of financial bids will be only through e-auction which will take place on the bank's portal on September 20."

Finance Minister Nirmala Sitharaman said today that banks have recovered more than Rs 10 lakh crores from bad loans between 2014 and 2023, as part of the reforms process implemented by the Modi government.

Share price of IDBI Bank surged by around 7 per cent on Friday after the company's top executive expressed hope that the lender may recover around one-fourth of nearly Rs 78,000 crore of bad loans and the government is likely to speed up privatisation process.

Future's top financial creditors include India's largest lender State Bank of India, along with smaller rivals Bank of Baroda and Bank of India

ICICI Bank on Saturday reported a 36.22 per cent rise in net profit to Rs 2,599.15 crore in the quarter ended June 30 compared to the corresponding period a year ago, but missed analysts' estimates. Provisions for bad loans by the country's third largest private bank by market capitalisation rose sharply to account for the impact of the coronavirus...

The government on Friday announced a mega plan to merge 10 state-run public sector banks into four large entities to address economic concerns.

The Finance Minister said gross non-performing assets (NPAs) - or bad loans - have come down from Rs 8.65 lakh crore to Rs 7.90 lakh crore.

Of these 1,142, PNB has so far initiated recovery proceedings by filing suits against 1,108 defaulters to recover Rs 23,879.8 crore

Though keeping to the resolution timeline remains a challenge, the implementation of the IBC process is largely on track, said Crisil

The total recovery as of March-end stood at Rs 75,000 crore, against the total claim of Rs 1.75 lakh crore by financial creditors.

Banking Secretary Rajeev Kumar said PSU banks have recovered Rs 2.87 lakh crore since 2015.

Finance Minister Arun Jaitley said on Thursday that commercial banks were likely to recover Rs 70,000 crore of bad loans by the end of March, helped by resolution of 12 large cases. Some of the big cases, such as Bhushan Power and Steel, and Essar Steel India are in advanced stages of resolution, the finance minister said, adding that they are like...

Lenders have so far recovered 80,000 crore rupees from the resolution of 66 cases, Jaitley said.

Financial Services Secretary said the government would give funds to four to five banks under a PCA plan after considering their financial results.

A UK High Enforcement Officer is set to sell a fleet of Vijay Mallya's cars in the UK as part of efforts to recover loan repayment dues owed by the beleaguered liquor baron to a consortium of 13 Indian banks, the banks' legal representative confirmed on Friday.

A PNB spokesperson said on Thursday that "the submission of financial bids will be only through e-auction which will take place on the bank's portal on September 20."