RBI must make public the debtors who are marked 'fraud' and 'wilful defaulter' to stop money laundering, fleeing the country and also to prevent negligence of banks, law enforcement agencies, if any
Non-performing assets have dipped but it's too early to uncork the bubbly as global slowdown impacts export and MSME sectors.
NPAs fall drastically despite credit to commercial sector and government rising 63% and 52%, respectively.
Profit of Indian lenders grew 38.4% in 2022-23, led by strong growth in net interest income and significant reduction in provisions
Moody's expects the Indian economy will remain vulnerable to bouts of heightened financial market volatility.
In FY22, scheduled commercial banks recovered ₹92,564 crore via multiple channels such as Lok Adalats, Debt Recovery Tribunals, IBC, and SARFAESI Act.
City Union Bank had reported gross NPAs for FY22 as ₹2,192 crore, while RBI assessed it to be ₹1,933 crore, resulting in a divergence of ₹259 crore.
The private lender has completed the sale of ₹48,000 crore stressed asset loan portfolio of the bank to JC Flowers Asset Reconstruction company.
Gross NPAs of Indian banks are likely to improve 90 bps to 5% this fiscal on-year, says ratings agency CRISIL
The private lender says it has decided that the JC Flowers ARC will be the base bidder for a proposed sale of an identified stressed loan portfolio of the bank.
