Page 14 - Bad Loans

SBI to conduct e-auction of 11 accounts on Nov 7 to recover Rs 467-cr dues

The State Bank of India (SBI) will conduct an e-auction of 11 bad loan accounts on November 7 to recover dues of Rs 466.49 crore. In terms of the bank's revised policy on sale of financial assets, in line with the regulatory guidelines, the bank will place 11 accounts for sale to ARCs/banks/NBFCs and FIs, SBI said in an auction notice. The bank said the financial assets were showcased on October 12 and the e-auction will take place on November 7. The major non-performing asset (NPA) accounts to be auctioned include Bhatia Global Trading (BGTL), which has an outstanding of Rs 177.02 crore on the bank, Bhatia Coke & Energy Ltd (Rs 104.15 crore), Bhatia Coal Washeries (Rs 12.58 crore) and Asian Natural Resources (India) Ltd (Rs 2.18 crore). Maharastra Steels Pvt Ltd (Rs 40.51 crore), Anshul Steel Ltd (Rs 37.70 crore) and Vidhata Metals (Rs 36.98 crore) are the other accounts to be auctioned. The auction for the accounts will be held under the 'Swiss Challenge Method', based on an ...

LIVE: A year after bad-loan crisis, state-appointed IL&FS board takes stock

IL&FS had made a series of defaults in September 2018, triggering widespread concern of a bad debt crisis lurking in India's shadow-banking sector.

Asia's $640 billion bad-loan pile lures global investors, says Deloitte

China continues to dominate the region's soured loans, with a total of $295 billion held by Asian banks, while India is the second largest at about $160 billion

A bank's race against crisis has served a warning to Indian banking

At more than $200 billion, India's world-beating pile of bad loans is bigger than Italy's

ARCs getting aggressive in asset purchase: Explained in three charts

Most of the assets picked up by ARCs are corporate loans

Merger will force branch closures, hit customer service: staff association

Branch closure would mean more customers going to fewer branches. Banking services would be impacted, as the customer population per branch will increase

Now, Sebi joins fight against bad loans

Provides takeover code exemptions for acquirer of stressed companies

RBI allows domestic banks to sell NPAs abroad as one-time settlement

Experts say the move can raise India's external liability significantly and build up risks

How regulators, agencies are hurting India's war on $190-billion bad loans

Here are some instances of government agencies' tussles with the process

Bad loans decline to 9.3% in FY19, beat RBI estimate: Crisil report

In its half-yearly financial stability report in December, the Reserve Bank had estimated that the gross non- performing assets ratio might improve to 10.3 per cent by March 2019

Let's find a new way to deal with bad loans

The Supreme Court ruling on the February 2018 RBI directive creates an opportunity to take a fresh look at India's bad asset resolution process

Central Bank puts stressed accounts of Bhushan Power, Essar Steel on sale

State-owned Central Bank of India has put up for sale four stressed accounts, including Bhushan Power & Steel and Essar Steel India, to recover dues of Rs 3,321 crore. "In terms of the bank's policy on sale of financial assets in line with the regulatory guidelines, we place the following accounts for sale to banks/ARCs/NBFCs/FIs," Central Bank of India has said in a bids invite document on its website. Alok Industries and Bombay Rayon Fashions are the two other stressed assets that lender wants to get rid off. According to the bid document, Bhushan Power & Steel has an outstanding of Rs 1,550.07 crore towards the bank. Alok Industries owes Rs 1,251 crore, Essar Steel India Rs 423.61 crore, while Bombay Rayon Fashions has an outstanding due of Rs 96.30 crore. The e-auction of all these accounts will take place on March 20. The auction of these accounts is through the Swiss challenge method, under the Securitization and Reconstruction of Financial Assets and Enforcement of ...

Shutting out foreign funds hurts India's bad-debt market, says BofA

In the past year, the US lender has had to team up with local asset reconstruction companies to purchase loans made to firms including Seven Hills Hospitals and GTL Infrastructure Ltd. that had soured

NPA recognition may drag till FY20, bad loans could spike by Rs 5 trn

Over Rs 1.21 trillion debt (a part of the Rs 4.10 trillion) is likely to emanate from corporates rated 'AA-' and above, a report said

Jaitley sees banks recovering Rs 70,000-cr bad loans by March-end

Lenders have so far recovered Rs 8,000 crore from the resolution of 66 cases

How a bad loan farce gets another rerun

It'll become that much easier for the tycoons to rewind the credit culture, back to the debtor-friendly show it always was

RBI to examine the treatment of stressed loan accounts across banks

Banks are required to classify NPAs as "substandard" assets, "doubtful" assets, and "loss" assets

Top hedge fund Avendus Capital turns to state-run banks as bad loans wane

The state-run banking index has dropped nearly 25 per cent in the past 12 months

SBI's bad loan provision to fall after two quarters: Chairman Rajnish Kumar

India's banks have been plagued by a surge in non-performing loans which hit a record $150 billion at the end of March

Govt banks have 90% of NPAs

But the RBI doesn't have the leverage to meaningfully change the way in which public sector banks operate