Bank loans to industries get momentum after 21 months

Top bankers expect the momentum to continue, with an increase in demand and the government placing its thrust on infrastructure spending and capacity expansion.

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HDFC Chairman Deepak Parekh sees robust housing demand in India to continue

"The India real estate market is on an upward cycle which bodes well for all of us. The big star of the real estate sector continues to remain residential housing in India. I hardly need to reiterate that demand for housing in India continues to remain robust," Parekh said while addressing the CII Real Estate event.

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Housing financiers' bad loans jump by 70 bps following new asset quality norms: Report

The Reserve Bank of India (RBI) had on November 12, 2021, introduced tighter asset quality reporting norms for all lenders, which brought in housing financiers and non-banking financial companies (NBFCs) on par with commercial banks.

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Banking sector in pink of health, credit growth to pick up: Ind-Ra

The rating agency expects capital expenditure to rise to has to about Rs 7 lakh crore each fiscal 2022 and fiscal 2023 up from Rs 5.5 lakh crore achieved in fiscal 2021 on the back of a demand ramp-up by end-FY22 and a further pick-up in FY23 with an economic recovery.

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Banking sector outlook revised to 'improving' for FY23; credit growth seen at 10 pc: Ind-Ra

“We have revised the outlook on the overall banking sector to improving for FY23 from stable, as the banking system's health is at its best in decades. The improving health trend that began in FY20 is likely to continue into FY23,” India Ratings and Research said.

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NACH bounce rates fall to lowest in Q3 since start of Covid 19

ICICI Bank recorded the lowest bounce rates by volume while Kotak Mahindra Bank and IndusInd Bank posted higher bounce rates among peer private banks owing to large exposure to vehicle and self-employed loans. Other lenders like HDFC Bank, State Bank of India and Axis Bank recorded an improvement in bounce rates and were close to ICICI Bank's levels.

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Banks explore option of setting up panel to advise them on loan recast

The RBI had in 2016 as part of norms for resolution of large borrowers envisaged the constitution of an Overseeing Committee (OC), but its latest guidelines in 2019 on, 'Prudential Framework for Resolution of Stressed Assets,' did not mention such a requirement.

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LIC sits on over Rs 21,500 cr unclaimed funds

Every insurer is required to display information about any unclaimed amount of Rs 1,000 or more on their respective websites (to continue even after completion of 10 years) and a facility is to be provided on the website to enable policyholders or beneficiaries to verify unclaimed amount due to them.

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Budget 2022 has removed this tax deduction for current financial year also

Section 14A provides for disallowance of deduction in respect of expenditure incurred by an assessee to earn tax-exempt income. The controversy is whether such disallowance will be made even if the assessee does not earn any exempt income.

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KKR affiliate entity set to acquire IL&FS’ stake in Bangalore Elevated Tollway

Galaxy Investments, a wholly owned subsidiary of KKR Asia Pacific Infrastructure Holdings, has entered into a definitive agreement with UK’s development finance institution CDC’s India Infrastructure Fund II to acquire a stake in the company.

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Religare Enterprises challenges tagging of RFL as fraud account by lenders

RBI in a communication dated February 11 advised that "restructuring of RFL cannot be implemented with REL continuing as a promoter, as RFL has been declared fraud exposure by lenders," REL said in a statement.

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RBI extends deadline for NBFCS to meet new NPA upgradation norms

“In case of borrowers having more than one credit facility from a lending institution, loan accounts shall be upgraded from NPA to standard asset category only upon repayment of entire arrears of interest and principal pertaining to all the credit facilities,” the RBI said.

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Punjab & Sind Bank declares IL&FS Tamil Nadu Power as fraud account; outstanding dues at Rs 148 crore

As per the bank's policy on determination and disclosures on material events, PSB said it has declared this non-performing account (NPA) as a fraud account.

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