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51 absconders who left country defrauded over Rs 17900 crore

Wednesday, December 4, 2019, 11:24 AM

A total amount of Rs.17,900-crore was defrauded by 51-absconders, who have run away from the country, the government informed Parliament. The information was provided by Minister of State for Finance Anurag Singh Thakur in a written reply to a question on "fugitive economic offenders" in the RS. "Public sector banks initiated cleaning up by recognizing NPAs and provided for expected losses," the minister said.
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RBI red flags rising Mudra bad loans

Tuesday, November 26, 2019, 2:58 PM

Reserve Bank Deputy Governor MK Jain on Tuesday raised concerns over the growing NPA levels in Mudra loans and asked banks to monitor these loans closely. The Mudra loan scheme was launched by Prime Minister Narendra Modi in 2015 to help the highly under-funded small and medium industries with cheap bank loans.
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SBI moves HCC account to stressed-assets category

Tuesday, November 26, 2019, 1:11 PM

State Bank of India (SBI) has moved its loans to Hindustan Construction Company (HCC) to its stress-management department even as the account remains standard on the bank's books, sources told. Typically, a corporate account is transferred from the credit department of a bank to its stressed-asset department only after it has been recognized as a bad asset.

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