The Indian Banks Association (IBA) has proposed a two percent revision in wages for employees of public sector banks which the unions had refused to accept.
Profitability of banks will be hit in the current quarter as bad loans surge following changes by RBI in loan restructuring guidelines to align them with the IBC.
The revised framework has specified norms for "early identification" of stressed assets, timelines for implementation of resolution plans.
JSW Steel is evaluating stressed steel assets for acquisitions and has secured shareholders approval to create a USD 1 bn war chest for the same.
ICICI Bank was the lead bank in the lenders’ consortium.
RBI reconstituted a panel to oversee restructuring of troubled loans, as it strives to cut more than $150 billion of bad debt.
The government is considering legislation to empower the RBI in effective handling of stressed assets, in tandem with its broader plan to resolve banks' bad loans.
RBI's S4A scheme indeed offers a short term gain to corporates at the pain of lenders.
SBI managing director Rajnish Kumar says to be prepared for the worst to the write-off the unsustainable.
RBI’s S4A scheme will help convert much of India Inc’s debt into equity, which lenders can sell when situation improves.