The Reserve Bank of India announced guidelines for co-origination of priority sector loans by banks and NBFCs with a view to enhancing flow of funds to the sector at competitive rates.

Some of the banking as well as housing finance companies stocks saw severe beating today which dragged the markets down. Among housing finance companies, Dewan Housing Finance (DHFL) stock was the worst performing.

However, the indices later recovered on management of these companies allaying concerns over their financial position.

The BJP-led NDA government probably had the right intention when they knocked on the doors of Ravi Venkatesan, former chairman of Microsoft India and P S Jayakumar, an ex-citibanker turned entrepreneur, for helping them in conducting an experiment of sorts with Bank of Baroda.

This would be first charge sheet in the case pertaining to loans of over Rs 6,000 crore given to Kingfisher by a consortium of 17 banks led by State Bank of India which alone had an exposure of Rs 1,600 crore.

Defaulting companies in the power sector as well as some sugar, shipping and textile companies that had seemed destined for bankruptcy court under the RBI's new norms on stressed assets got a last-minute breather from the Supreme Court yesterday.

The SC order will also buy the stressed shipping and sugar companies, which had approached the top court against the order, some more time.

Interpol issues red-corner notice against Nirav Modi's sister Purvi ModiAfter the Interpol issued a red-corner notice (RCN) against a close aide of diamantaire fugitive Nirav Modi, Mihir Bhansali, it has issued another notice against Purvi Modi, who is a Belgian national and the sister of Nirav Modi. The RCN has been issued on the request of the Enforcement Directorate to the Interpol, as the ED seeks to interrogate her on the alleged charges of 'money laundering'.After Bharat Ban...

The former RBI governor reportedly said that banks extended more loans to prevent 'zombie' loans from turning non-performing assets.

\"We will look at their (LIC's) business plan (post acquisition of 51 per cent stake in IDBI Bank) and then decide on reduction of its stake in IDBI Bank (to 15 per cent),\" says IRDAI Chairman SC Khuntia

Money is laundered through a web of companies located in different geographies, making it difficult to check such transactions. To fight this, the Reserve Bank of India (RBI) has introduced Legal Entity Identifier or LEI. Its key aim is to check and prevent banking frauds.

RBI Governor Urjit Patel decided to follow \"wisdom of an owl\" as he went on to conduct the \"deep surgery\" initiated by his predecessor Raghuram Rajan to clamp down on loan defaulters.

Gross NPAs of banks may improve to 10% in March 2019 as resolution process picks up paceThe gross non-performing assets (GNPAs) of the banking sector is likely to improve to 10 per cent in March 2019, from 11.52 per cent as on June 30, 2018, as nearly 60 per cent of the bad loans of the sector are under active resolution, a report has said. The net NPA is also expected to decrease to 4.3 per cent, from 5.92 per cent as of June-end this year, ICRA said in its report. The rating age...

The net NPA is also expected to decrease to 4.3 per cent, from 5.92 per cent as of June-end this year, says the ICRA report. The rating agency cautioned that GNPA and NNPA may be higher at 12.2 per cent and 5.6 per cent, respectively, in absence of resolution.

Spicejet operates the first biojet fuel flight for the countrySpicejet's flight yesterday between Dehradun and Delhi was special. The flight was powered by a blend of 75% air turbine fuel and 25% biojet fuel. This was a first for the country which is looking for ways to cut down fuel costs.A blend of 25% of bio jet fuel and 75% of aviation turbine fuel (ATF) was carried in one of the two engines of the plane, while the other engine carried only ATF. International standards permit ...

As per the RBI's February-12 circular, the over 70 defaulting companies had been given six months starting from March, following which financial creditors were supposed to move the NCLT against them.

Amazon plans to invest $700 mn in the Future GroupJeff Bezos-led Amazon in India has begun formal negotiations with Kishore Biyani's Future Group to invest around $600-700 million for a 12 to 15 per cent stake in the retail major as reported by the Business Standard. The two entities have signed a term sheet to take the talks further, sources said. This denotes the two sides have officially entered a pact. If the deal materialises it will most likely be a combination of cash and...

The RBI circular asks banks to identify projects with even a day's default as stressed assets, and conclude resolution proceedings in 180 days. The circular came into effect on March 1 and the 180-day deadline concludes on August 27.

This missive comes in the light of arrest of Bhushan Steels erstwhile promoter Neeraj Singal by the Serious Fraud Investigation Office (SFIO) for allegedly siphoning off funds.

The Modi government, already backed into the corner over unemployment, absconding defaulters, rupee depreciation, fuel prices and more, would not want more bad news on the NPA front at this juncture.