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BANKS RECAP
CAG flags treatment of bank recap expenditure in FY18-19According to CAG, the finance ministry had stated that bank recapitalisation was not fiscally neutral but cash neutral, as issue of securit...- CAG flags concerns over treatment of bank recap expenditureAudit noticed that in the expenditure budget the above mentioned expenditure on recapitalisation of the PSBs, had been netted against recei...
- Govt shells out Rs 22,087 crore as interest towards recap bonds for banksTo ease fiscal pressure, the government in October 2017 devised an innovative way called recapitalisation bonds.
- PSB NPAs likely to rise 2-4% points; may push govt to recapitalise via RBI reserves, bonds: ReportThe recap bonds is a tried and tested instrument which has helped the banks in the past.
- Budget 2019: How Jaitley dealt with the banking sector in his 5 years as FMJaitley recognised the importance of the sector's health to the overall health of the economy.
- FM may not wait for Jalan report, set aside Rs 40K cr for PSU banks in BudgetCare Ratings said the capital infusion could be done through issuance of recapitalisation bonds.
- PSU banks seek Rs 50,000 crore capital infusion in FY20“PSU banks say that fund infusion is needed for credit growth,” the report said.
- Will continue sharing dividend with government in mechanical way: RBIThere were media reports that the RBI may give additional dividend to the government in the current fiscal.
- $30 billion hit looms for Indian banks on new accounting ruleIndAS -- based on the IFRS9 standards created in the aftermath of the financial crisis -- would require banks to make provisions for expect...
- Banks under PCA framework drop despite recap package; here's whyMarket watchers said the recap plan would lead to steep book value dilution risks.
- Sensex, Nifty open flat; banking stocks rally up to 10% on recap packageDomestic investors chose to lighten exposure ahead of long weekend and Budget next week.
- Bank Recap to further propel credit growth, sustain momentum: Financial services secretary Rajiv KumarIn its last monetary policy, the Reserve Bank of India had also observed that recapitalisation of public sector banks may propel credit gro...
- 'Governance reform' must to receive government capital, says RBI Governor Urjit PatelPatel’s message comes at a time when PSBs are struggling to recover dues from defaulters and their stressed loans have surged to a record h...
- Fitch may up upgrade banking sector if govt's recap plan is well executedSooner the government infuses capital, it will be significantly credit positive.
- Government to revamp HR practices at public sector banksChanges like lateral entry from the private sector, establishment of a remuneration panel are likely to be announced by the Centre.
- NBFCs borrowing from bond street to feel heatThe rates for those bank dependent ones, like L&T Finance, would ease helping their profitability.
- Business environment in India still relatively difficult compared with peers: Thomas Rookmaaker, Fitch RatingsIndia’s fiscal position is yes slightly weaker relative to India’s rating profile of BBB
- Bank recapitalisation plan to push GDP growth to 7% in FY19: ReportThe government recently unveiled a Rs 2.1 lakh crore, (representing 1.2 per cent of GDP), recapitalisation package for public sector lender...
- Time for state-run banks to be responsive & responsible: Rajiv kumar, Secretary, Financial ServicesIn recapitalisation plan for PSBs, the government has adequately provided for expected losses on past loans, says Rajiv kumar, Secretary, F...
- Bank recap boosts Sensex, Nifty to lifetime highsThe 30-share index ended up 1.3% at 33042.5, its biggest singleday gain since May 25, after hitting a record high of 33117.33 intraday.
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