
Budget 2023: NPAs declining from FY18 peak
In FY22, scheduled commercial banks recovered ₹92,564 crore via multiple channels such as Lok Adalats, Debt Recovery Tribunals, IBC, and SARFAESI Act.
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.
With liquidations surpassing resolutions, bankers need to look at alternatives to the bankruptcy code.
Modi also urged banks to support start-ups and rural areas and step up fintech initiatives.
No respite for controversy-hit YES Bank after the RBI finds the private sector lender guilty of under-reporting bad loans, again, casting a shadow on the bank’s asset quality and profitability in Q3.
The fifth-largest private lender reported a loss of ₹1,506.6 crore in the March quarter, its first in 55 quarters since its listing, on account of bad loans.
India’s economy might be cruising along, but the road ahead might not be smooth.