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SBI under-reported bad loans by Rs 11,932 crore in FY19: RBI report

Tuesday, December 10, 2019, 3:22 PM

Public sector lender State Bank of India (SBI) under-reported its non-performing assets for the fiscal year FY19, a risk-assessment report of the RBI has found. In a regulatory filing on Tuesday, the bank said it had under-reported its bad debts by Rs 11,932 crore. The divergence in gross non-performing assets (NPAs) assessed by the central bank for SBI was Rs 11,932 crore in FY19.
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Bank of Baroda lowers MCLR lending rates by 20 bps

Tuesday, December 10, 2019, 3:15 PM

Following its peers like SBI, HDFC Bank and Bank of India, state-run Bank of Baroda also has lowered its marginal cost of funds-based lending rates (MCLR) by up to 20 bps across various tenors, effective December 12. The rate reduction comes even as the RBI in a surprise move had left the key policy rates unchanged at the last meeting on December 5.
 
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RBI urges government to cut rates on small savings schemes

Tuesday, December 10, 2019, 12:28 PM

The RBI has urged the government to move forward on reducing interest rates on small savings schemes such as PPF and post office deposits, to help banks pare rates on deposits and loans and lead to better transmission of the central bank's rate-cuts. The government has, however, reduced interest rates on most schemes by a meagre 10bps although the rates are linked to market-rates.

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