INSUBCONTINENT EXCLUSIVE:
The number of frauds reported by banks increased from 4,693 in 2015-16 to 5,904 in 2017-18.New Delhi: Eleven public sector banks that are
under the RBI's watchlist for mounting bad loans today expressed confidence before a parliamentary committee that they would emerge out of
the central bank's Prompt Corrective Action (PCA) framework by 2020, sources said
Concerns were also raised about the "stagnation in lending operations" of state-owned banks during the meeting of the Standing Committee on
Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India,
Corporation Bank and Allahabad Bank -- made presentations before the panel and responded to queries
"They (the banks under PCA) talked about the roadmap to deal with their NPAs and expressed confidence of coming out of the RBI's Prompt
The owner may be asked to infuse capital into the lender
That apart, lenders will also be stopped from expanding their branch networks
These would need to maintain higher provisions, and management compensation and directors' fee will be capped.Banks have to comply with the
global norms on capital adequacy (Basel III) and make provision for non-performing assets, which have constrained lending operations
public sector banks accounted for Rs 7.77 lakh crore
2015-16 to 5,904 in 2017-18
desires that RBI Governor Urjit Patel should follow the customary practice of briefing the panel on the state of economy at least twice a
As per the revised PCA guidelines released last year, if a bank enters 'Risk Threshold 3', it may be a candidate for amalgamation,
reconstruction or even be wound up
