Being one of the largest banking frauds in India, the turn of events at PMC Bank has had consequences which are very severe. Some say the only other choice RBI had was to liquidate the bank. Here is the sad tale of the depositors.
The Union Budget for 2022-23 has set a template for economic growth, which is to be led by capital expenditure. Will this lead to job creation and inclusive growth?
As per the Economic Survey 2021-22, 49.1% of the bank deposits, amounting to Rs 73.5 lakh crore, are without the DICGC insurance cover.
Budget for 2022-23 estimates fiscal deficit at higher than expected 6.4%, triggering expectations of a rise in yields on bonds and interest rates to stay elevated.
India’s bad bank is set to roll out operations after receiving all regulatory approvals; lenders readying to transfer Rs 50,000 crore of toxic assets to NARCL by 31 March.
With RBI objecting to a ‘dual structure’, NARCL proposes a principal-agent relation. But this has flaws, writes Hargovind Sachdev.
ECLG Scheme may have saved around 14% of outstanding loans to MSMEs from becoming NPAs; deeper worries remain on the NPAs this loan segment may generate.
Punjab National Bank said it is on track to achieve net profit of Rs 4,000 crore in FY22; credit growth to be higher, recoveries at Rs 5,000 cr and net NPA to fall below 4.5%, says Mallikarjuna.
RBL Bank interim CEO Rajeev Ahuja says recent developments have nothing to do with financials; trade union body wants government to consider merging it with a state-owned bank.