IndiaCatalog.com
India News
Search Web Directory
News Home
Panel pill to fight bad loan
Posted on 9th June 2018
Mumbai: A panel of bankers has been formed to look into the feasibility of setting up an asset reconstruction company (ARC) or an asset management company (AMC) for the speedier resolution of bad loans plaguing PSU banks.

The idea of a panel came up at a meeting of PSU banks here on Friday and it has got support from the Union government.

The committee, which will be headed by Sunil Mehta, non-executive chairman of Punjab National Bank (PNB), will submit its report over the next two weeks.

Interim finance minister Piyush Goyal announced the panel after a meeting here with banks based in the western and southern regions of the country.

"A committee has been formed under the chairmanship of Sunil Mehta, which over the next two weeks will come out with their recommendations of a suggestion that was deliberated in great detail among bankers today (Friday) who believe that it may be worth considering to set up an ARC and or an AMC for the faster resolution of stressed assets," Goyal said.

He said the group will try to ascertain whether such an arrangement will be good for the banking system. If the idea is approved by the panel members, the modalities by which the ARC or AMC can be set up will be discussed.

The move comes at a time banks, particularly the PSU lenders, continue to report bad loans during the fourth quarter of 2017-18 as they were forced to recognise several loans as NPAs following a circular from the Reserve Bank of India.

Analysts said the key issue was whether the old idea of "Bad Bank" has made a comeback in the different avatar of AMC/ARC, this time around. Such a bank will buy the NPAs of PSU banks and either recover the money or sell the assets.

The Economic Survey of 2016-17 had suggested the creation of a centralised Public Sector Asset Rehabilitation Agency (PARA) that could take charge of the largest, most difficult cases.

The survey had said a government entity would ensure better management of bad assets and was capable of handling political pressures surrounding the sale of bad assets, unlike private ARCs which have not been successful in the country.


Other Latest News
Sebi orders Ricoh India, directors to extend cooperation to auditor, confirms interim directions
Posted on 17th August 2018
Sebi today ordered Ricoh India and its directors to extend “necessary cooperation” to the auditor appointed for inspecting the books of accounts of the firm and confirmed its interim ruling in the matter, restraining several individuals from the markets “till further directions”. Through an interim order passed in February, the regulator had banned seven individuals, including Ricoh India’s former MD and CEO A T Rajan, from the securities market for alleged fraud pertaining to the distortions in the financial statements of the company.

GMR Infra loss widens 72% to Rs 235 cr in Q1
Posted on 17th August 2018
GMR Infrastructure’s net loss on a consolidated basis widened by 72% year-on-year (y-o-y) to Rs 235.14 crore in the quarter ended June 30 on dwindling profits from its airports business and rising losses on the power segment.

Revenue in the quarter fell about 33% to Rs 1,876.2 crore from the same period last year. Profits from the company’s flagship airport segment fell 60% y-o-y to Rs 277 crore, notwithstanding the 14% traffic growth in the same period.


Kotak shares fall to 3-month low after RBI declines preference share allotment
Posted on 17th August 2018
The stock of Kotak Mahindra Bank declined 3.62% on Thursday to hit a three-month low of Rs 1,244.90 on Thursday on the BSE after the lender said the Reserve Bank of India (RBI) had rejected its proposal to issue non-convertible preference shares to reduce promoter holding. During the day, it plunged 3.82% to Rs 1,242.25. On NSE, shares of the company slumped 3.71% to close at Rs 1,245.

Maruti, Mercedes to raise prices over higher input costs
Posted on 17th August 2018
MUMBAI: Maruti Suzuki and Mercedes-Benz, the nation’s largest mainstream and luxury carmakers, respectively, have decided to increase prices, citing input cost pressures. Maruti is set to increase prices by about Rs 6,100 per vehicle, while in the case of Mercedes-Benz, the increase will be up to 4%, which essentially means a hike of Rs 1.1-7.7 lakh depending on the models.

Reliance Jio, BSNL, Airtel announce free services for customers in Kerala
Posted on 17th August 2018
Telecom operators have announced free calls and data, extension in bill payment due dates and other relief measures for subscribers in flood-hit state of Kerala.

Reliance Jio has announced free services for seven days while BSNL is offering unlimited free calls within its network and data services along with 100 SMS per day for a week to customers.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Panel pill to fight bad loan
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Panel pill to fight bad loan

Most Read News

Concor ropes in TCS to strengthen mobile app for reverse auction

Paytm Mall aims to generate $10 bn in annualised gross sales by March 2019

Infosys to go ahead with Kolkata project worth Rs 1 bn without SEZ status

No more free insurance for train travel, opt out or pay up: Railways

Wipro, ITC, Cadila take lead in race to acquire Complan

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018 IndiaCatalog.com
    All Rights Reserved
Privacy Statement