Lenders are set to transfer 15 large-ticket stressed accounts worth 50,000 crore to the National Asset Reconstruction Company Limited (NARCL) in the first tranche by the end of the current financial year. Overall, 38 such accounts totalling 83,000 crore have been identified for transfer to the bad bank, Dinesh Kumar Khara, chairman, State Bank of India (SBI), said on Friday.
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G7 urges Opec to help ease energy crisis
Ministers from the Group of Seven countries on Friday called on Opec to act responsibly to ease a global energy crunch brought on by the Russian invasion of Ukraine, even as they announced a breakthrough commitment to phase out coal-fuelled power.
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BALANCING THE BOOKS
India will soon start a bad bank to deal with stressed assets in the banking system. But if it is incapable of preserving a healthy balance between assets and liabilities, it will be a disastrous move
SBI net rises 62% on lower provisions
Q3 PERFORMANCE. Income growth muted at 3% y-o-y
Bad bank gets nod, set to get assets worth ₹82k cr
NARCL will acquire assets of 15 NPA accounts involving 350,335 cr by Mar 31
Bankers await regulator's nod on revised bad bank structure
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Banking sector requires $70-bn capital to support $5-trn economy: Khara
THE BANKING SECTOR is very well capitalised at present, but for the economy to reach the $5-trillion target, lenders would need fresh capital of $70 billion, State Bank of India (SBI) chairman Dinesh Kumar Khara said at the virtual Ficci-IBA banking conference held on Wednesday.
Modi to fugitive economic offenders: Return to country
PM Modi calls on democratic nations to ensure that cryptocurrency does not end up in the ‘wrong hands’
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