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NARCL: Procedural delays led to non-transfer of NPAs worth Rs 50,000 crore by March 31

Non-performing assets worth Rs 50,000 crore could not be transferred to the National Asset Reconstruction Company Ltd (NARCL) by March 31 due to “procedural delays”, a senior bank official said on Wednesday. The transfer of these 15 Non-Performing Assets (NPAs) is expected to happen very quickly by the end of April. “We were trying to …

We expect NARCL’s offers to come in this week: Swaminathan J, SBI managing director for risk, compliance and stressed assets resolution

The bank now prefers global auctions of bad loans over Swiss challenges as they maximise recoveries, he added. The target of transferring assets worth Rs 50,000 crore to the National Asset Reconstruction Company (NARCL) in FY22 is a few days behind schedule, Swaminathan J, State Bank of India (SBI) managing director for risk, compliance and …

IBA begins fresh search for bad bank chief with HR firm Aon’s help

Human resources consulting firm Aon is assisting IBA in the process. The Indian Banks’ Association (IBA) has begun a formal search process to identify a chief executive for the National Asset Reconstruction Company (NARCL), months after a State Bank of India (SBI) executive was appointed to lead the bad bank. SBI chief general manager Padmakumar …

Charts show Nifty to retest 18600 by Dec-end, Bank Nifty to trade in 38200-40000 range; Reliance, SBI top bets

The broader market indices have formed a higher high-low on the weekly chart after forming a base above 50 days EMA By Dharmesh Shah The Nifty started the last week on a positive note and broadly traded in 18100-17800 range throughout the week. In the process, in four out of five sessions Nifty closed above …

Stocks to buy: Nifty eyes 17500; SBI, IndusInd Bank, Motherson Sumi, others show strong uptrend in near-term

Analysts say the market is still trading within the trading range and for the bulls, 17450/58500 would be the range breakout level. By Shrikant Chouhan The benchmark indices opened with a gap due to exceptional strength in the global cues, the market has managed to surpass the level of 17400 but due to lack of …

New TDS rule, IFSC Codes, Cash Withdrawal to Cheque book charges: What’s changing from tomorrow?

Representative image/Pixabay A number of changes for several bank account holders and taxpayers are coming into effect from tomorrow (1st July 2021). There are some significant changes for account holders of State Bank of India, Andhra Bank, Canara Bank and Syndicate Bank. For taxpayers, new provisions related to TDS and TCS are also coming into …

SBI Cards share price rallies 14% in six months; JP Morgan, Motilal Oswal see 25% more rally

Analysts at JP Morgan Equity Research and Motilal Oswal Financial Services are bullish on SBI Cards stock and have recommended to buy the stock. SBI Cards and Payment Services share price is likely to rally up to 25 per cent from the current levels on the expectations of card spends recovery. The stock price soared …

SBI cash withdrawal with cheque and form rules for self and third party changed! Here’s all you need to know

SBI increases cash withdrawal limit amid pandemic. SBI cash withdrawal rules 2021: In a bid to support its customers during the Covid-19 pandemic, the State Bank of India has increased the non-home cash withdrawal limits through cheque and withdrawal form. “To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits …

Nifty’s June target at 15,700, Bank Nifty may hit 36,200 soon; BFSI, auto stocks may outrun

The weekly price action formed a strong bull candle carrying higher high-low, indicating resumption of primary up trend. Image: Reuters By Dharmesh Shah In the week gone by equity benchmarks entirely recouped last week’s losses and ended the week on a positive note at 15175, up 3.4%. Broader markets regained momentum and outperformed the benchmark …

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