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
The Centibillionaires: Bill Gates joins Jeff Bezos as the only two members of the $100 billion club
Posted on 20th March 2019
Bloomberg tracks the fortunes of some 2,800 billionaires. Of those, 145 are worth at least $10 billion, making them decabillionaires. Now, the world contains two centibillionaires simultaneously.

Microsoft Corp. co-founder Bill Gates, once the world’s richest person, has again eclipsed the $100 billion threshold, joining Inc.’s Jeff Bezos in the exclusive club, according to the Bloomberg Billionaires Index.

Takeover tussle: L&T’s takeover bid fails to unsettle Mindtree
Posted on 20th March 2019
Even as Larsen and Toubro (L&T) on Tuesday tried to play down the nature of its move to take over technology firm Mindtree, promoters of the latter refused to budge from their stand, terming the move hostile, unprecedented, and unexplainable. They maintained that the culture of the two companies are not aligned.

Addressing newspersons on Tuesday, L&T MD & CEO SN Subrahmanyan said what they are trying to do is with pyaar (love) and will continue to look at it as something they are doing from dil (heart).

SBI’s NBFC loan purchases at just Rs 17,000 crore so far, unlikely to meet full-year target
Posted on 20th March 2019
State Bank of India (SBI) has bought loan pools worth only about Rs 17,000 crore so far in FY19 from non-banking financial companies (NBFCs), against the stated target of Rs 45,000 crore, sources told FE.

There are not too many good asset pools up for sale, and SBI is unlikely to meet its revised full-year target, according to executives in the know.

Sebi, IBBI ink deal for better IBC implementation
Posted on 20th March 2019
The Insolvency and Bankruptcy Board of India (IBBI) on Tuesday signed a memorandum of understanding (MoU) with capital markets regulator Sebi for an effective implementation of the Insolvency and Bankruptcy Code, 2016. They have agreed to assist and cooperate with each other for effective implementation of the IBC, subject to limitations imposed by the applicable laws, an official statement said.

India not first tier country for post-Brexit FTA, says UK minister
Posted on 20th March 2019
India is not the first tier country for post-Brexit free trade agreement (FTA) and a lot more work would be required before Britain can start negotiating such a deal with New Delhi, the UK government admitted on Tuesday.

In his submission to the ongoing Global Britain and India' inquiry being conducted on post-Brexit India-UK ties by the House of Commons Foreign Affairs Committee (FAC), UK Foreign Office Minister Mark Field flagged some high-value trade disputes involving British companies in India as a warning sign on the road ahead.

» 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 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
Security Code*

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

Most Read News

Court denies interim relief to Kotak Bank

Reliance Communications pays Rs 462 crore to Ericsson

BSNL fails to pay February salary to 1.76 lakh employees

Mercedes drives in new AMG C43 Coupe

Vodafone Idea plea rejected: TDSAT refuses cheaper rates for backhaul spectrum

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
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019
    All Rights Reserved
Privacy Statement