States start easing Covid-19 curbs as cases decline. More on that in our top headlines.
RBI's decision to defer the implementation of revised NPA norms by six months for finance companies will save them from the burden of making additional provisions
In November 2021, RBI had given time till March 31, 2022 to implement the rule
NII rises 8.9% to Rs 7,174 cr; gross NPAs declin to 11.62% in December 2021 from 13.49% a year ago
The interested ARCs/banks/NBFCs/FIs can conduct due diligence of these assets with immediate effect
The lender is also looking to further monetise its 15% stake in UTI AMC as part of its non-core asset sale plan to shore up its capital base.
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Ahead of its proposed initial public offering (IPO), insurance behemoth LIC has improved its asset quality for the financial year ended March 2021. The non-performing assets (NPAs) as of March 31, 2021, are Rs 35,129.89 crore out of a total portfolio of Rs 4,51,303.30 crore, according to the latest Annual Report of Life Insurance Corporation of India (LIC). The sub-standard assets are Rs 254.37 crore whereas the doubtful assets are Rs 20,369.17 crore and loss assets are Rs 14,506.35 crore. An amount of Rs 34,934.97 crore is provided as per IRDAI guidelines in the books of accounts towards non-performing assets, it said. The percentage of gross NPA is 7.78 per cent while the net NPA is 0.05 per cent at the end of March 2021. This is lower than gross NPA of 8.17 per cent (as a percentage of its debt portfolio) and net NPA of 0.79 per cent in the previous year. In absolute terms, the NPA was Rs 36,694.20 crore out of a total debt of Rs 4,49,364.87 crore in 2019-20. Stress threshold
Case related to bad loan, sale of NPA at low value
Pratip Chaudhary was arrested on Sunday and will be brought to Jaisalmer on Monday.
The agency upgraded the rating for the Mumbai-based private lender's bonds, debentures and tier-II capital instruments from "A" to "A+"
The Street will likely monitor the NPA ratios that surged in the June quarter
However, restructuring and enhanced funding of Rs 1.5 trillion under government guaranteed credit scheme could provide some relief for lenders
The gross NPA of the company too declined to 13.9 per cent from 19.70 per cent in the previous financial year.
The NBFC anticipates Rs 1,100 cr- Rs 1,300 cr increase in credit costs and estimates both gross NPAand net NPA will be higher through the first two quarters of FY22
Bajaj Finance, in a mid-quarter update, indicated that its B2B and Auto Finance businesses were most affected due to strict lockdowns in majority of states
Total slippages and restructuring for FY21 were at Rs 46,416 crore, within the guidance of Rs 60,000 crore
It is expected that NPAs over Rs 2 trillion will move out of the books of the banks to the bad bank
The stock was trading at its lowest level since October 30, 2020, having corrected 34 per cent from its 52-week high level of Rs 430.25
Gross NPA ratio spiked to 4.25 per cent in March quarter from 1.68 per cent a year ago