Non-performing Asset Current Affairs, GK & News
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
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
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
RBI imposes Rs 2 crore penalty on SBI
The Reserve Bank of India (RBI) has announced on March 16, 2021 that it has fined India’s largest lending bank “State Bank of India (SBI)” with Rs 2 crore after it failed to follow the regulations in payment of remuneration to its employees through the commissions. Highlights The Reserve Bank of India imposed the monetary ..
Month: Current Affairs - March, 2021
Category: Economy & Banking Current Affairs
Topics: Banking Regulation Act 1949 • Non-performing Asset • Penalty on SBI • Reserve Bank of India • State Bank of India
Budget 2021: New Asset Reconstruction and Asset Management Company to be set up
The finance Minister of India, Nirmala Sitharaman, has announced during the presentation of the Union Budget 2021 that a new asset reconstruction and asset management company will be set up in India. Key facts The new Asset reconstruction and asset management company will look after the Non-Performing Assets (NPAs) of stressed banks. New amendments will ..
Month: Current Affairs - February, 2021
Category: Economy & Banking Current Affairs
Topics: Asset Reconstruction Companies (ARC’s) • New Asset Reconstruction and Asset Management Company • Non-performing Asset • SARFAESI Act 2002 • Union Budget 2021