Mumbai, June 1 (IANS) The CBI has arrested top executive of Reliance Communication Group, Amitabh Jhunjhunwala for causing a loss of over 6,000 crore to an SBI-led consortium of banks. He was the Group Managing Director of Reliance Communications group at the relevant time and was controlling the affairs of important functions like corporate finance, banking and utilisation of funds, according to a CBI statement issued on Monday. Jhunjhunwala coordinated with senior formations of the bank for lo…
Latest NPAs News & Updates
Agartala, May 26 (IANS) Amid growing global economic uncertainty triggered by geopolitical tensions, including the ongoing conflict involving Iran and the United States, the Indian banking sector remains strong, stable, and poised for sustained growth, Secretary of the Department of Financial Services (DFS) under the Union Finance Ministry, M. Nagaraju, said here on Tuesday. Addressing the media on the sidelines of a Credit Outreach Programme organised by the State Level Bankers Committee at Rab…
New Delhi, May 26 (IANS) Bharatiya Janata Party (BJP) leader Amit Malviya on Tuesday slammed Congress MP Jairam Ramesh for putting forward “alarmist and misleading” arguments to criticise the economic policy of the government. Ramesh, who is also the Congress party’s communications chief, stated on X that Finance Minister Nirmala Sitharaman was focusing on the “3Fs”, fuel, fertilisers, and forex, but was overlooking the “all-important fourth F: falling rates of private investment tha…
Mumbai, April 27 (IANS) The Reserve Bank of India (RBI) on Monday released its final guidelines on asset classification and provisioning for lenders, marking a significant shift toward a more forward-looking risk assessment framework. The rules, which were first proposed in draft form in October last year, will come into force from April 1, 2027, despite banks urging the regulator to delay implementation.At the heart of the new framework is the introduction of the Expected Credit Loss (ECL) appr…
New Delhi, March 30 (IANS) Digital non‑banking finance companies’ personal loan portfolios are expected to exceed Rs. 3.6 lakh crore by FY30, implying a compound annual growth rate of 26–28 per cent during FY25–FY30, a report said on Monday.The report from ratings agency CareEdge Ratings said that the strong growth is driven by increasing digital penetration, expanding borrower segments and a supportive regulatory framework.Outstanding personal loans of digital NBFCs more than doubled to…
Ahmedabad, March 24 (IANS) A special CBI court in Ahmedabad has convicted and sentenced four accused, including two former officials of UCO Bank, to five years of Rigorous Imprisonment along with fines in two separate bank fraud cases, officials said on Tuesday.The court on March 23 awarded the sentence to the then Senior Manager Medam Bhagavathi Prasad, then Assistant Manager Bhaskar Rameshchandra Soni, and private individuals involved in the cases.In the first case, the court sentenced Medam B…
New Delhi, Feb 9 (IANS) The gross NPAs as a percentage of total loans and advances of scheduled commercial banks have been continuously declining during the last eight financial years, and were at a historic low of 2.15 per cent at the end of September 2025, which is lower than the 2010-11 level, the Parliament was informed on Monday. The Reserve Bank of India (RBI) has apprised that the data on gross NPAs of banks is not collected by it on a monthly basis. However, as per the latest data availa…
New Delhi, Feb 5 (IANS) It was apparent that Prime Minister Narendra Modi came to Parliament on Thursday, prepared for an Opposition onslaught, and if the Congress thought of blocking him from participating in the Motion of Thanks on the President’s address like it did in the Lower House on Wednesday, it failed in the Rajya Sabha. “I thank my friends in the Congress who have provoked me earlier. I’ve been blocked from speaking five-six times in the last 10 years. They know, I don’t stop when I s…
New Delhi, Jan 29 (IANS) A strong manufacturing sector can push India’s medium-term economic growth to 7.5 or 8 per cent, higher than the 7 per cent projected in the Economic Survey, Chief Economic Adviser V. Anantha Nageswaran said on Thursday.Addressing the media after the tabling of the Economic Survey in the Parliament, the CEA said that a strong manufacturing sector, which pushes up exports, would also reduce the current account deficit and bolster the rupee.He also said that the sector i…