The independent audit committee investigating the alleged irregularities in 31 NPA accounts of ICICI Bank has hired a law firm to assist the panel, an official said.
Scam-hit PNB's recovery of over Rs 7,700 crore in bad loans during the first quarter in the current fiscal has surpassed the total amount it recovered in the entire 2017-18 financial year, indicating that it has embarked on the turnaround path, the bank's top official has said.
The National Company Law Tribunal today extended the deadline by 16 days to facilitate the Committee of Creditors of Lanco Infratech to examine the revised resolution plan submitted by Thriveni Earthmovers, a Tamil Nadu-based infra and mining firm.
Public sector Allahabad Bank today said it is mulling to off-load non-core assets like shareholding in various joint ventures and sell immovable properties to shore up its capital base.
Shares of Karnataka Bank today surged nearly 5 per cent after the company posted 22 per cent rise in net profit for the quarter ended June 30.
Outgoing Chief Economic Adviser Arvind Subramanian today expressed scepticism over the handling of the mounting NPAs crisis as he praised former RBI governor Raghuram Rajan for identifying the lacuna and trying to resolve it, sources said.
Private sector lender IndusInd Bank today posted a 24 per cent increase in net profit at Rs 1,036 crore in the June quarter on healthy rise in advances and core interest income.
With a view to fast track NPA resolution, bankers today finalised the inter-creditor agreement (ICA) framework that envisages effective communication among lenders.
Piyush Goyal will meet heads of banks tomorrow to discuss an inter-lender structure suggested under the 'Project Sashakat' that intends to fastrack resolution of stressed assets in the banking system.
Finance minister Piyush Goyal today said the government is open to discuss the issues that the Reserve Bank of India (RBI) had raised recently over the lack of powers in regulating state-run lenders.