Reduction in NPAs for PSBs due to write-offs at Rs 1,31,894 crore in FY21: RTI

MUMBAI: Reduction in non-performing assets (NPAs) due to write-offs for public sector banks (PSBs) stood at Rs 1,31,894 crore during fiscal 2020-21, according to an RTI response. The RTI query was filed by Nagpur-based Sanjay Thul seeking information on non-performing assets (NPAs) of state-run banks and bad loans write-off by PSBs in the last ten … Read more

NPA: Banks likely to transfer about 80 large NPA accounts to NARCL

Banks are likely to transfer about 80 large NPA accounts for the resolution to National Asset Reconstruction Company Ltd (NARCL), which is expected to be operational by next month. NARCL is the name coined for the bad bank announced in the Budget 2021-22. A bad bank refers to a financial institution that takes over the … Read more

PNB incorporates PNB Cards & Services for credit card business

Public sector lender Punjab National Bank on Wednesday said it has incorporated a wholly-owned subsidiary, PNB Cards & Services Limited, which will deal with the banks’ non-financial support services related to its credit card business. “The exchange is hereby informed that a wholly-owned subsidiary of the bank namely PNB Cards & Services Limited has been … Read more