Gross NPAs of public sector banks has fallen from peak of 14.98% in March 2018 to decade low of 3.12% in September 2024.
A committee under SBI will examine and submit a fresh list of stressed accounts with banks for transfer to NCLT; NARCL has acquired 22 accounts with exposure of Rs 95,711 crore.
During April-September period of current fiscal, public sector banks recovered Rs 37,253 crore of bad loans.
Gross NPAs of private sector banks stood at Rs 1.34 lakh crore as on 30 September 2024, said MoS for Finance Pankaj Chaudhary; this as percentage of outstanding loan is 1.86% in private sector banks.
Sanjay Malhotra replaces Shaktikanta Das as RBI Governor, facing challenging task of taming inflation, speeding up growth and ensuring exchange rate stability.
Repo rate stays put at 6.5% for 11th straight time; RBI cuts CRR by 50 basis points and revises GDP and inflation forecast for FY25.
FM Nirmala Sitharaman rules out GDP slowdown in September quarter as being ‘systemic’; says economic activity in Q3, with better public expenditure, is likely to compensate for the moderation.
RBI’s approval is for Canara Bank to divest its 13% stake in Canara Robeco Asset Management Company and 14.5% in Canara HSBC Life Insurance Company through the IPO route.
Public sector banks have shown improvement in their capital adequacy ratio and gross non-performing assets position post-merger, Minister of State for Finance Pankaj Chaudhary said.
The Reserve Bank of India has increased the UPI Lite wallet limit to Rs 5,000 and per-transaction limit to Rs 1,000 in order to encourage wider adoption of the popular instant payment system through mobile phones.
State Bank of India has written to RBI, requesting change in rules, and consider non-financial transactions like balance checking as well for tagging an account as operative.
RBI asks banks to urgently reduce number of inoperative or frozen accounts; banks need to take necessary steps and also report their numbers quarterly.
The loan growth will be helped by implementation of Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY 2) and branch expansion.
Total value of Rs 2,000 banknotes in circulation declines to Rs 6,839 crore as on 29 November; this was Rs 3.56 trillion on 19 May 2023.
Out of 500 new branches planned in FY25, 135 already opened till October-end, Minister of State for Finance Pankaj Chaudhary.
