A pre-approved loan is – An in-principal approval Valid for a limited period Subject to change in loan terms The benefits are – Focus on your property search Better negotiation power with sellers Quick loan processing
Banks write off loans worth Rs 10 lakh crore in last 5 years
All scheduled commercial banks (SCB) operating in India have cumulatively written off loans of Rs2,02,781 crore in FY21. As expected, public sector banks (PSBs) lead the pack and have written off bad loans worth Rs1,31,894 during FY21, the Rajya Sabha was informed.
In a written reply, Dr Bhagwat Karad, minister of state for finance, says, "As per Reserve Bank of India (RBI) data, an aggregate amount of Rs2,02,781 crore has been written off by SCBs during the financial year 2020-21."
He also reiterates that as per RBI guidelines and policy approved by bank boards, non-performing loans (NPLs),...
Synopsis "If you are in the money, why should we trouble a customer. We can definitely hold those loans as stage 3 and still work in the company so that it does not affect our growth."
In quarter two we have seen good growth and demand in the gold loans. I hope that it will be there in the quarter three and quarter four also, said George Alexander Muthoot, MD, Muthoot Finance Edited excerpts:
You had earlier said that you would use auctions as a last resort, and we have not seen any auctions. Does that indicate that to a certain extent the pressure that you were seeing on asset quality is so...
The finance ministry’s review meeting with the chief executives of public sector banks (PSBs), ahead of the Interim Budget 2019-20, will focus on ways to reduce non-performing assets (NPAs) and boost their recovery, especially by auctioning borrowers’ properties.
Financial Services Secretary Rajiv Kumar is set to chair the meeting slated to be held on January 28, instead of January 22 as was planned earlier.
“The meeting will be focussed on NPAs. We will discuss the steps being taken by banks to reduce and recover bad loans,” a senior finance ministry official said, requesting anonymity. “The ...
Total gross NPAs in value terms of the entire banking system stood at Rs 8.38 lakh crore as on September 2017, and these ten banks together account for 34% of these total value.
RBI is also identifying wilful defaulters for IBC resolution under the National Company Law Tribunal (NCLT). So far, it has identified 40 wilful defaulters of banks in two lists.
Amid all the hype and popularity of taking over the management of the affairs of the Corporate Debtor under the Insolvency And Bankruptcy Code, 2016 (IBC), a NAVRATNA enterprise has become the first company in India to take over management of a debtor under provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI).
As many as 27 public sector banks, including SBI and its five associates, in 2016-17 have written off Rs81,683 crore, 41% higher than the previous fiscal
Here are just a few of the reasons that homeowners and investors are going to the Bank Auctions / foreclosure market.