Page 2 - Bad Bank

Sitharaman to address media at 5pm, may speak on bad bank proposal

Finance Minister to speak in Delhi ahead of GST council meeting in to Lucknow tomorrow.

IBA to soon move application to RBI for setting up Rs 6,000-cr bad bank

Having secured licence from the Registrar of Companies, the Indian Banks' Association (IBA) will soon move an application to the Reserve Bank of India (RBI) to set up a Rs 6,000-crore National Asset Reconstruction Company Ltd (NARCL) or bad bank, according to sources. With registration of the company, the process for putting an initial capital of Rs 100 crore is on as per the guidelines, the sources said adding that the next step will be audit and then move application to the RBI seeking licence for the asset reconstruction company. The RBI in 2017 raised capital requirement to Rs 100 crore from the earlier level of Rs 2 crore keeping in mind higher amount of cash required to buy bad loans. Legal consultant AZB & Partners has been engaged for seeking various regulatory approvals and fulfilling other legal formalities. The initial capital would come from eight banks who have committed, and the NARCL would expand the capital base to Rs 6,000 crore subsequently after the RBI's nod, ..

Cabinet may soon clear proposal for govt guarantee to bad bank

Indian Banks' Association (IBA), entrusted with the task of setting up a bad bank, has pegged the government guarantee to be around Rs 31,000 crore.

God's own patience: Meet Padmakumar Madhavan Nair, MD & CEO of NARCL

His staying power was in evidence during the groundwork for the resolution of the debt owed by Anil Ambani-controlled Reliance Communication which involved over 50 lenders

Near-resolution assets may not go to bad bank amid Covid-19 pandemic

ARC expected to be functional next month

National Asset Reconstruction Company to be operational next month: IBA CEO

National Asset Reconstruction Company Ltd (NARCL), the name coined for the bad bank announced in the Budget 2021-22, is expected to be operational in June

Transfer NPAs to bad bank at book value, says Parliamentary panel

The panel urged the Reserve Bank of India to clearly define every step of the procedure to remove any ambiguity or discretion from the banks' side

Top headlines: Bad bank's Swiss challenge method, pvt banks to get govt biz

India will start the next stage of vaccinating those above 60 years of age and those above 45 with comorbidities, such as diabetes and heart ailments, from March 1

Bad bank may follow Swiss challenge method for price discovery of assets

Plan aimed at price discovery of assets; IBA working closely with FinMin, RBI

Too many questions on bad bank and infra DFI

Why do we need a bad bank, owned by the banks themselves, when there are at least 28 ARCs around?

India's bad bank plan sparks concern loan prices could be inflated

There are many details about the bad bank that policy makers haven't clarified, including its ownership structure, which makes any analysis challenging

Union Budget 2021: S&P gives a thumbs up, Nomura calls it a positive

"Likewise, we believe that the resolution of troubled assets could be faster with weak assets consolidated in a single entity, rather than multiple banks negotiating resolution terms," S&P added

Budget in 2 minutes: 'Bad bank' gets nod, discoms to get funds & more

A new voluntary vehicle scrapping policy, to phase out old and unfit vehicles, is to be announced, to encourage fuel-efficient, environment-friendly vehicles

Budget 2021: We have spent, we have spent and we have spent, says FM

She also said increased spending and high market borrowings led to a significant widening of the fiscal deficit

Budget a fine balance between prudent spending, incentives to woo capital

The FM's speech boosted sentiments through announcement of anticipated reforms like infra funding through a new DFI, 'bad bank'-type structure for resolution of stressed assets

Bad bank, no Covid cess: Why Sensex zoomed 2,300 pts post Budget proposals

The optimism despite higher borrowing and a wider fiscal deficit, analysts say, was on account of the positive measures to revive the Covid-19 hit economy

Budget is a bold gambit with focus on growth without any increase in taxes

With the economy likely to grow at a nominal growth of between 15-16 per cent, the tax revenue increase of 16.7 per cent appears fairly achievable

Was FM's Budget like 'never seen before'? Here's what D-Street mavens say

The FM has delivered a unique Budget, wherein all the right measures have been proposed to speed up growth, said Dhiraj Relli, MD & CEO at HDFC Securities

CEA Subramanian pitches for private sector led bad bank to deal with NPAs

Subramanian made a case for setting up of a bad bank led by pvt sector to deal with financial sector NPAs which may see a surge once regulatory forbearance to deal with Covid impact is withdrawn

Best of BS Opinion: Budget for the victims, the Wall Street game, and more

Here's a selection of Business Standard opinion pieces for the day