US-based Avenue Capital-backed Asset Reconstruction Company (India) (ARCIL) has bought nearly ₹400 crore worth of bad loans or non-performing assets (NPAs) of Saraswat Bank with a haircut of nearly 86%. Saraswat Bank...
Why bank mergers are good for reducing NPAs
The tide of bank non-performing assets (NPAs) seems to be finally ebbing, with net reported NPAs coming below 2%. Measures ranging from asset quality review to the introduction of a modern bankruptcy code were...
Bankruptcy court admits insolvency plea against listed beverage firm Manpasand Beverages
The dedicated bankruptcy court has admitted the Corporate Insolvency Resolution Process (CIRP) against BSE-listed Manpasand Beverages Ltd. The Ahmedabad bench of the National Company Law Tribunal (NCLT) has appointed...
IOB expects resolution of NPAs worth Rs 18,000 cr in 2nd half of FY21
State-owned Indian Overseas Bank (IOB) expects resolution of about Rs 18,000 crore of non-performing assets (NPAs) under the insolvency and bankruptcy process during the second half of the current fiscal, a move that...
PFC NPAs to reduce with resolution of 4 stressed plants: CMD
State-owned Power Finance Corp (PFC) expects significant reduction in its bad loans with resolution of four stressed power generation assets, expected by the end of this financial year, its chairman and managing...
Resolution delay forces banks to put NPAs on sale
Banks have been forced to put nonperforming assets (NPAs) worth Rs 40,000 crore up for sale in sectors such as power, roadways and telecom in the first half of the fiscal year to September because of delays in the...
SBI and BoI seek bids for NPAs worth Rs 7,000 crore
Seven months after the Supreme Court (SC) ordered the maintenance of status quo on insolvency proceedings against manufacturing firm Jayaswal Neco Industries, State Bank of India (SBI) on Thursday sought bids from asset...
IDFC Bank sells Rs 2,400 crore NPAs to Edelweiss Asset Reconstruction Company
IDFC Bank has sold more than Rs 2,400 crore of stressed assets to Edelweiss Asset Reconstruction Company for Rs 622.6 crore, a loss of 75% on the exposure, as it sought to clean up books ahead of the pending merger with...
SBI to sell NPAs Bombay Rayon Fashions, Shivam Dhatu worth Rs 2,490 cr
SBINSE -2.58 % will sell two non-performing assets (NPAs) worth about Rs 2,490 crore and has invited bids for them. In terms of the bank’s revised policy on sale of financial assets in line with the regulatory...
IFCI to sell stakes in NSE, CCIL, clean up NPAs in revival plan
Grappling with more than 26% non-performing assets (NPA) on its books as well as losses, state-owned lender IFCI Ltd is planning a multi-pronged strategy to move back to profitability. Selling its stakes in National...
Here are 9 ways for banks to raise capital to tackle NPAs
Strike at the root, and the branches will fall. Maratha warrior Peshwa Bajirao followed the adage to remain undefeated throughout his life time. But the Indian banking system, caught in a fierce battle with non...
Post merger, SBI sees no negative surprises on NPAs
State Bank of India (SBI) does not expect any negative surprises on the stressed asset front post-merger, which will be completed by May-end, its Chairman Arundhati Bhattacharya said. The nation’s largest lender...