Non-performing Asset Current Affairs, GK & News
Economic Survey 2021-22- Highlights
The Economic Survey 2021-22 was tabled in Parliament on January 31, 2022 by Finance minister Nirmala Sitharaman. Who prepared the Economic Survey? Economic Survey 2021-22 was prepared by a team led by principal economic adviser Sanjeev Sanyal. The survey is a single volume with separate set of statistical tables, as opposed to two volume formats ..
Month: Current Affairs - February, 2022
Category: Economy & Banking Current Affairs - 2022
Topics: COVID-19 • Economic growth • Economic Survey • Economic Survey 2021-22 • India's economic growth • Inflation • Non-performing Asset
RBI: Banks to place consumer education info on websites
The Reserve Bank of India (RBI) issued a set of clarifications on November 12, 2021 regarding its existing asset classification guidelines. Under the guidelines, banks have been asked to specify the exact due dates of repayment in loan agreements. Highlights As per current norms, loan turns overdue in case it is not repaid on the ..
Month: Current Affairs - November, 2021
Category: Economy & Banking Current Affairs - 2022
Topics: Non-performing Asset • RBI guidelines in loan repayment • Reserve Bank of India (RBI)
RBI panel calls for overhauling ARC regulations
A Reserve Bank of India (RBI) panel has suggested for overhauling rules to govern Asset Reconstruction Companies (ARC). Key Points Overhauling ARC regulations will enhance the availability of bad loans for transactions. It will also bring in a wide set of investors for distressed assets to the market. Recommendations of the panel RBI panel recommends ..
Month: Current Affairs - November, 2021
Category: Economy & Banking Current Affairs - 2022
Topics: Asset Reconstruction Companies (ARC’s) • Insolvency and Bankruptcy Code • Non-performing Asset • SARFAESI • SARFAESI Act 2002
IOB out of RBI PCA Framework
Reserve Bank of India (RBI) has moved out the public sector lender Indian Overseas Bank (IOB) from Prompt Corrective Action (PCA) framework after its financial and credit profile improved. Key Points This decision provides lender more freedom to lend, especially to corporations and grow the network. IOB was placed under PCA in October 2015 because of high Net-Performing ..
Month: Current Affairs - September, 2021
Category: Economy & Banking Current Affairs - 2022
Topics: Indian Overseas Bank (IOB) • Ministry of Finance • Non-performing Asset • PCA Regime • Prompt Corrective Action • Reserve Bank of India (RBI) • UCO Bank
Cabinet approves decks for NARCL
Union Government has approved the decks for National Asset reconstruction Company Limited (NARCL) on September 16, 2021. Highlights This proposal requires the government to guarantee Security Receipts (SR) issued by NARCL, while buying non-performing assets (NPAs) from banks. This move will clear the path for launching NARCL. Who issue security receipts? Security Receipts (SR) are ..
Month: Current Affairs - September, 2021
Category: Economy & Banking Current Affairs - 2022
Topics: Asset Reconstruction Companies (ARC’s) • Bad Banks • NARCL • National Asset Reconstruction Company Ltd • Non-performing Asset • Security Receipt
PM SVANidhi Scheme: 1.6% loans from private sector
The Ministry of Housing and Urban Affairs recently announced that over twenty lakh street vendors have been provided loans under the PM SVANidhi scheme till March 29, 2021. Of this, eighteen lakh loans were provided by the Public Sector Banks. On the other hand, the private sector banks have provided only 32,534 loans. Bottom line, ..
Month: Current Affairs - April, 2021
Category: Government Schemes Current Affairs
Topics: COVID-19 • lock down • Non-performing Asset • Non-performing loan • PM SVANidhi • PM SVANidhi Scheme • Public Sector Banks • Street Vendors