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Public sector banks recover Rs 1.2 trillion from stressed assets in FY19

Public sector banks (PSBs) have recovered close to Rs 1.2 lakh crore from stressed assets during the financial ended March, primarily helped by resolution under the Insolvency and Bankruptcy Code (IBC), an official said. During the first half of the previou
Finance

Public sector banks recover Rs 1.2 trillion from stressed assets in FY19

Public sector banks (PSBs) have recovered close to Rs 1.2 lakh crore from stressed assets during the financial ended March, primarily helped by resolution under the Insolvency and Bankruptcy Code (IBC), an official said. During the first half of the previous fiscal, banks recovered Rs 60,713 crore from bad loans. «Due to non-resolution of some big accounts referred under NCLT (National Company Law Tribunal), PSBs could not achieve the resolution target of Rs 1.80 lakh crore. But, these accounts should be resolved in the current financial year,» the official said. Banks recovered close to Rs 55,000 crore from the NCLT resolution, the official said. «Compared to Rs 74,562 crore in 2017-18, the recovery in the previous financial year nearly doubled to Rs 1.2 lakh crore,» the official said. Two large accounts of Essar Steel and Bhushan Power & Steel Ltd are still pending to be resolved. It is expected that these two accounts should be resolved in the next few months and recoveries ..

Corporation Bank plans to raise Rs 4,000 crore capital in two years

The Mangaluru-based bank would look at raising Rs 2,000 crore in the second or third quarter of the current financial year (2019-20) and the balance in 2020-21
Finance

Corporation Bank plans to raise Rs 4,000 crore capital in two years

The Mangaluru-based bank would look at raising Rs 2,000 crore in the second or third quarter of the current financial year (2019-20) and the balance in 2020-21

Rupee strengthens post Modi's landslide victory, set for weekly gain

Modi's thumping win puts his nationalist party on course to increase its majority on a mandate of business-friendly policies
Finance

Rupee strengthens post Modi's landslide victory, set for weekly gain

Modi's thumping win puts his nationalist party on course to increase its majority on a mandate of business-friendly policies

IL&FS crisis may lead to consolidation in NBFC sector: Fitch Ratings

The report comes against the backdrop of the Reserve Bank of India's decision to create a specialised cadre to supervise and regulate the financial sector, including banks and NBFCs
Finance

IL&FS crisis may lead to consolidation in NBFC sector: Fitch Ratings

The report comes against the backdrop of the Reserve Bank of India's decision to create a specialised cadre to supervise and regulate the financial sector, including banks and NBFCs

RBI not in favour of providing special credit window to NBFC sector

Ever since the IL&FS crisis erupted, banks have been averse to lending to the sector, which has put them in a tight spot
Finance

RBI not in favour of providing special credit window to NBFC sector

Ever since the IL&FS crisis erupted, banks have been averse to lending to the sector, which has put them in a tight spot

Rupee opens 5 paise higher at 69.67 against US dollar

The domestic unit on Tuesday rose marginally by 2 paise to close at 69.72 in a lacklustre trade as participants preferred to sit on the fence ahead of the results of general polls.
Finance

Rupee opens 5 paise higher at 69.67 against US dollar

The domestic unit on Tuesday rose marginally by 2 paise to close at 69.72 in a lacklustre trade as participants preferred to sit on the fence ahead of the results of general polls.

PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports

The govt has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trn
Finance

PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports

The govt has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trn

BoB looks to rationalise 800-900 branches, to boost operational efficiency

With the first ever three-way merger, BoB has now become the second-largest public sector lender after State Bank of India
Finance

BoB looks to rationalise 800-900 branches, to boost operational efficiency

With the first ever three-way merger, BoB has now become the second-largest public sector lender after State Bank of India

India's working capital is vanishing and the next PM will need to find it

The world of finance will be keenly watching the election results as the future seems uncertain given the current scenario
Finance

India's working capital is vanishing and the next PM will need to find it

The world of finance will be keenly watching the election results as the future seems uncertain given the current scenario

R Gandhi's appointment to YES Bank board may be precautionary: Macquarie

Earlier this week, the Reserve Bank of India (RBI) appointed former Deputy Governor R Gandhi as an additional director to the board of Yes Bank
Finance

R Gandhi's appointment to YES Bank board may be precautionary: Macquarie

Earlier this week, the Reserve Bank of India (RBI) appointed former Deputy Governor R Gandhi as an additional director to the board of Yes Bank

Bank of India swings back into the black, posts Rs 251 cr profit in Q4

The bank managed to sell only Rs 1,700 crore of assets to asset reconstruction companies in FY19, about one-tenth of what it planned
Finance

Bank of India swings back into the black, posts Rs 251 cr profit in Q4

The bank managed to sell only Rs 1,700 crore of assets to asset reconstruction companies in FY19, about one-tenth of what it planned

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