SBI, UCO Bank look for buyers to clear-off Rs 1,245 crore NPAs: Report

SBI and UCO Bank are looking for buyers to sell non-performing accounts (NPAs) worth Rs1,245 crore and have invited bids from ARCs, banks, NBFCs and FIs to clean their books of such dud assets.
“In terms of bank’s revised policy on sale of financial assets in line with the regulatory guidelines, we place Zenith Birla (India) Ltd and Sona Alloys Pvt Ltd for sale to ARCs/banks /NBFCs/FIs,” SBI said in the bid document. Sona Alloys has an...

Centre to infuse Rs 7,577 crore in 6 weak PSU banks: Report

THE finance ministry has approved the proposal for the infusion of Rs 7,577 crore in 6 weak public sector banks (PSBs) as part of the recapitalisation plan to bolster the capital adequacy ratio. All these banks, which got capital support, are under prompt corrective action of the Reserve Bank of India. The funding comes under Indradhanus plan of the government, which promised Rs 70,000 crore over a period of four years ending March 2019. These public sector banks...

Will FinMin comply with RBI request to double capital infusion in PSU banks?

BATTING or the beleaguered public sector banks (PSBs), especially the small and non-performing ones, the Reserve Bank of India (RBI) has urged the finance ministry to double its capital infusion into the banks. The PSBs are facing high levels of bad loans and poor growth.

Quoting official sources a leading...