New Delhi [India], April 5 (ANI/PNN): The government has been initiating and rolling out many policy measures and reforms to achieve the vision of a USD 5 trillion Indian Economy by the year 2025
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PSBs scan older loans, may lead to more fraud discovery
Sources said banks are reviewing loan accounts, which have already been flagged for monitoring, and more large accounts are likely to be reported as fraud in the next couple of months. December 22, 2020 3:00:10 am
The total cases of frauds (involving Rs1 lakh and above) reported by banks and financial institutions shot up by 28 per cent by volume and 159 per cent by value during 2019-20 despite the Reserve Bank of India (RBI) tightening the supervision and vigilance.
Public sector banks (PSBs) are expected to report more fraud cases in loan accounts that have earlier been put under their early warning alert system. Sources said banks are reviewing loan accounts, which have already been flagged for monitoring, and more large accounts are likely to be reported as fraud in the next couple of months.
NPAs: Cleaner of banks or killer of Indian economy? December 12, 2020, 7:08 PM IST
HP Kumar is the former Chairman & Managing Director of The National Small Industries Corporation Ltd.
NPAs, the abbreviated term, popularly used for ‘Non-Performing Assets’ among Banks and borrowers is turning out to be a draconian provision for the entire business community. The Bankers are equally petrified of this application, as it not only eats away their good money, but, also frightens them by its implications with many a times, seeking their personal accountability. What is this NPA phenomenon which has put the entire Banking Industry to dizzy and the borrowers are facing severe heat with many of them shutting their shops? All borrowing businesses, irrespective of their size, whether large or MSMEs, engaged in any of the economic activities and providing employment to millions of workers, are covered by this provision of NPAs. Let us, therefore, u