Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
October 17, Wednesday 2018 11:32 AM       

       HEADLINES: Nation going to witness protests of Ayyappa devotees, Rahul Easwar tells Arnab Goswami                                              ‘Cyber bullies should be purified’, says Saradakkutti                                              Women should not destroy rituals, says Ali Akbar                                              Police dept prepares List of women-officers to be deployed at Sabarimala                                              Navarathri festival begins at Pathmanabhapuram palace                                              Bar demands lifting ban on lawyers' strike, but CJI unimpressed                                              Sharad Pawar won't contest 2019 polls: NCP                                              Khaleda Zia admitted to specialised state-run hospital                                              India beat West Indies by innings and 272 runs                                              Kaumudi Facebook
       BUSINESS Next Article: RBI Guv appears before Par panel; assures steps to strengthen banking system  
       RBI needs more powers to oversee PSB: Guv to panel
 
         Posted on :02:13:38 Jun 13, 2018
   
A A
       Last edited on:02:13:38 Jun 13, 2018
         Tags: RBI, PSB: Guv to panel
 
New Delhi: The Reserve Bank needs more powers to oversee public sector banks (PSBs), Governor Urjit Patel told a parliamentary panel today amid mounting bad loans in state-run lenders.
 
The RBI governor, who appeared before the Parliamentary Standing Committee of Finance, faced tough questions from lawmakers on bad loans, bank frauds, cash crunch and other issues, according to sources.
 
Sources said the governor assured the members that steps were being taken to strengthen the system.
 
Regarding PSBs, he told the panel that the RBI has "inadequate" control over them.
 
The governor asked for more powers to control the government-owned banks, said sources present at the meeting. 
 
There are 21 state-owned banks, including State Bank of India. 
 
Their combined losses crossed a whopping Rs 87,300 crore in 2017-18 fiscal, topped by scam-tainted Punjab National Bank which took a hit of nearly Rs 12,283 crore.
 
Of the 21 state-owned banks, only two banks, Indian Bank and Vijaya Bank, posted profits during 2017-18. Indian Bank posted the highest profit of Rs 1,258.99 crore and Vijaya Bank's profit was Rs 727.02 crore in the fiscal. 
 
Gross non-performing assets (NPA) of the entire banking sector stood at Rs 8.31 lakh crore at end-December 2017.
 
Sources further said the RBI governor also answered queries regarding the USD 2 billion fraud allegedly committed by diamontaire Nirav Modi and his associates in the PNB.
 
According to sources, Patel said it was impossible to look after each and every branch of a bank in terms of an audit. 
 
Some members of the committee, headed by senior Congress leader Veerappa Moily, sought to know about the reasons for recent instances of ATMs running out of cash and why enough steps were not taken to tackle banking frauds.
 
Patel told the panel that steps were being taken to strengthen the banking system. "We are confident that we will be able to tide over the crisis," a source quoted the governor as saying with respect to the NPA situation.
 
On an optimistic note, Patel informed the committee that after implementation of the Insolvency and Bankruptcy Code (IBC), the situation on the NPA front has been improving.
A A
       BUSINESS
Next Article: RBI Guv appears before Par panel; assures steps to strengthen banking system
 
 
BUSINESS HEADLINES
IndiGo announces flights to Male, Phuket  
RBI maintains status quo; warns volatile oil prices pose risk to inflation  
Chanda Kochhar resigns from ICICI Bank  
Mukesh Ambani emerges richest Indian for 11th consecutive year: Forbes  
Prabhu to chair inter-ministerial meet on rupee, trade deficit tomorrow  
Jaitley defends loan write-offs; says they don't lead to waiver, recovery still pursued  
Air India to sell 14 properties; eyes Rs 250 cr  
Betting on premiumisation, Godrej Locks eyes Rs 10 billion revenue by FY22  
Uttarakhand receives investment proposals worth Rs 74K cr  
Trade war will help India emerge as bigger trading, manufacturing base: Jaitley  
RBI eases cash reserve rules to ease liquidity  
Gold climbs Rs 175 on global cues, jewellers' buying  
India's economy continues on robust growth path: ADB  
Sensex, Nifty turn choppy ahead of US Fed policy outcome  
Jaitley asks PSU banks to take effective action against frauds, wilful defaults  
New MD-cum-CEO for Indian Bank  
New MD-cum-CEO for Indian Bank  
India may cut oil imports to mitigate pain from high oil prices, dip in rupee  
Gold rises marginally as traders widen bets  
Fed rate decision, rupee, crude oil to drive markets this week: Experts  
"RBI unlikely to hike repo rate in Oct despite weak INR"  
OYO to hire over 2,000 tech experts, engineers by 2020  
Sensex ends in red after 1,000-pt flash crash  
OYO to hire over 2,000 tech experts, engineers by 2020  
Avis India announces free doorstep delivery, collection of self-drive cars  
 
Do you think Sabarimala protests have embarrassed the State government?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy