RBI withdraws CDR, SDR, S4A, JLF schemes to restructure defaulted loans

Central bank has also projected inflation to be in the range

"Banks will face penalties in case of failure to comply with the guidelines", the RBI notification said. Banks need to make appropriate disclosures in their financial statements, under "Notes on Accounts", relating to resolution plans implemented The move is positive for the banking sector in the long run; however, in the short term, it is likely to impact earnings of banks which are already strained.

For loans that are larger than Rs 2,000 crore, the resolution plan needs to be completed within 180 days. This is part of a revised framework on resolving stressed accounts, put up late on Monday night on the RBI website. Under the new norms, if a resolution plan is not implemented within 180 days, the account must be referred to the Insolvency and Bankruptcy Code.

The Reserve Bank of India (RBI) has issued a notice cautioning people about the fake websites created with a layout similar to the original website of the central bank.

The RBI has issued a notification to lenders and has asked them to share the list of defaulters with the central bank's database on large exposures on every Friday. "All accounts, including such accounts where any of the schemes have been invoked but not yet implemented, shall be governed by the revised framework", RBI said.

This specified period means the period from the date of implementation of RP up to the date by which at least 20% of the outstanding principal debt as per the RP, and interest capitalisation sanctioned as part of the restructuring, if any, is repaid.

Don't Miss these Stocks: Scorpio Tankers Inc. (STNG), BioPharmX Corporation (BPMX)
Pub Employees Retirement Association Of Colorado reported 0.05% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) shares. In terms of Buy, Sell or Hold recommendations, Scorpio Tankers Inc (NYSE: STNG ) has analysts' mean recommendation of 1.9.

Rockets sign Brandan Wright for remainder of season
Johnson, 36, is expected to clear waivers on Monday afternoon and then will be eligible to sign immediately with the Rockets. Wright, 30, has played 10 National Basketball Association seasons, serving as a reliable frontcourt presence.

Reaffirms "Overweight" Rating for Just Eat (JE)
Also Ft.com published the news titled: "Small-cap focus: retail energy minnows challenge the big six" on November 03, 2017. The stock of Zions Bancorporation (NASDAQ:ZION) has "Mkt Perform" rating given on Tuesday, October 11 by FBR Capital.

"The resolution plan (RP) may involve any actions/plans/reorganisation including, but not limited to, regularisation of the account by payment of all over dues by the borrower entity, sale of the exposures to other entities/investors, change in ownership, or restructuring", the RBI said, while mandating that the resolution plan should be clearly documented by all the lenders. "The revised norms are a more transparent system for resolution", he said.

India Ratings believes PSBs' capital consumption to remain high, given that profit and loss accounts (P&L) for most of banks (especially mid-size PSBs) would remain under pressure due to accelerated provisioning requirement on the accounts identified by the regulator for reference to the National Company Law Tribunal under the Insolvency and Bankruptcy Code in FY18.

"Accordingly, the Joint Lenders' Forum (JLF) as an institutional mechanism for resolution of stressed accounts also stands discontinued". Public sector banks had gross non performing assets (NPA) Rs 7,33,974 crore as of September 30, 2017, while private sector banks were burdened by Rs 1,02,808 crore bad loans. "The CRILC-Main Report will now be required to be submitted on a monthly basis effective April 1, 2018", it said.

"It has come to the notice of the Reserve Bank of India that a fake website of the Reserve Bank of India has been created with the URL www.indiareserveban.org by some unknown person (s)".

Related:

  • 'Star Trek: Discovery' Showrunners Tease Spock and Pike's Roles in Season 2

    'Star Trek: Discovery' Showrunners Tease Spock and Pike's Roles in Season 2

    Kirk bluffs about his ship's corbomite maneuver, a contingency which the plucky captain falsely claims will destroy both ships. So that's not a no! Across the 15 episodes of its first season, we watch the show make good on that promise.
    Potter writes his personal superb script at Pebble Seaside

    Potter writes his personal superb script at Pebble Seaside

    Scott dropped outside the top 50 for the first time in 413 weeks, since April of 2010. "I struggled when broke I my ankle". Potter now has a two-year exemption on the PGA Tour, along with getting spots in the Masters and PGA Championship.
    Okinawa-based troops give their blood for Cobra Gold drills

    Okinawa-based troops give their blood for Cobra Gold drills

    The officer attended the opening ceremony, along with other members of the defense attache corps in Bangkok, he said. More than 6,000 members of the U.S armed forces are in Thailand for the annual Gold Cobra military exercises.
  • Every Canadian needs to read Senator Murray Sinclair's response to Boushie verdict

    Every Canadian needs to read Senator Murray Sinclair's response to Boushie verdict

    The Stanley jury was drawn from among more or less local people in a place where there are few cities, and no big ones. The Boushie family, along with activists, have said they will fight for an appeal.
    Sets the Record Straight on Why She Was Reported Missing

    Sets the Record Straight on Why She Was Reported Missing

    They head out for a bike ride and some gelato, but Lauren is awfully quiet. "But no, I had already been eliminated from the show". Next week, on hometowns , it looks like Arie gets a rough ride on all of the visits, although that could just be editing.
    Why the Experience of Ahed Tamimi Matters So Much

    Why the Experience of Ahed Tamimi Matters So Much

    Since 2009, residents of Nabi Salah have staged regular anti-occupation protests that often ended with stone-throwing clashes. Gaby Lasky , Ahed Tamimi's attorney, and Bassem Tamimi, Ahed's father, outside of the Ofer military prison.
  • Earnings Analysis Of FedEx Corporation (FDX)

    It is negative, as 37 investors sold PPL shares while 222 reduced holdings. 58 funds opened positions while 197 raised stakes. FedEx Corporation (NYSE:FDX)'s Freight has confirmed its plans to open a new service center in Wilmington, North Carolina.
    Mithali stars in India's win

    Mithali stars in India's win

    Bowling her second over, Pooja Vastrakar was first taken for a six and a four before clawing her way back. Smriti Mandhana provided the initial burst , racing to 28 off 15 balls with three fours and two sixes.
    England cricketer Ben Stokes to stand trial over nightclub fight

    England cricketer Ben Stokes to stand trial over nightclub fight

    Although he was barred from representing England , Stokes played six limited-overs games for New Zealand outfit Canterbury Kings in December 2017.
  • Vetr Upgrades New Residential Investment (NYSE:NRZ) to "Strong-Buy"

    The company was upgraded on Thursday, January 18 by Wedbush. (NYSE:NRZ) earned "Buy" rating by FBR Capital on Monday, July 10. Investors may try to capitalize on trading around earnings announcements. 104 funds opened positions while 328 raised stakes.
    Sicario 2 Director in Talks for Call of Duty Movie

    Sicario 2 Director in Talks for Call of Duty Movie

    Worse than a typical war movie? We guess we should be eating our words now , because a Call of Duty movie is probably happening. Tomb Raider and Rampage aren't even out yet, but Hollywood is pursuing another potentially cursed video game franchise movie.
    IPL schedule: Mumbai Indians to host CSK in opener at Wankhede

    IPL schedule: Mumbai Indians to host CSK in opener at Wankhede

    Kings XI Punjab will share Indore and Mohali as their home venues, playing three and four matches respectively at the two venues. The final's venue, Wankhede Stadium, will also host the first qualifier on May 22.

Comments

Latest news

The Man Who Saved Detroit's Thanksgiving Parade, Art Van Elslander, Dies
Warren Mayor Jim Fouts called Van Elslander an "icon" in the Detroit area and an "inspiration to all of us". Additional details, including funeral arrangements, were not immediately available at press time.

Serena Williams loses in return By
Serena appeared particularly slow on her feet and was poor in her shot selection after more than a year away from the sport. But this event was most notable for the return of Serena Williams , five months after giving birth .

Uber Will Soon Force Drivers To Take Mandatory Breaks After Extended Shifts
Lyft has required drivers to take a six-hour break for every 14 hours spent in driver mode since January 2014. NHTSA describes drowsy driving as "a profound impairment that mimics alcohol-impaired driving in many ways".

Paddington Director in Talks for New Willy Wonka Movie
The book tells the famous story of Charlie Bucket and his Golden Ticket, and Willy Wonka and his wonderful chocolate factory . In addition to King, David Heyman has signed on to produce the movie.

Wynn Resorts Ltd. (WYNN) — Recommendation Trends Analysis
Tributary Capital Management Llc increased Timken Co Com (NYSE:TKR) stake by 32,600 shares to 41,100 valued at $2.00M in 2017Q3. It dropped, as 33 investors sold WYNN shares while 148 reduced holdings. 64 funds opened positions while 138 raised stakes.

Brokerages Set Werner Enterprises, Inc. (WERN) Price Target at $39.13
Werner Enterprises, Inc. (NASDAQ:WERN) current ratio calculated as 1.80, this value is acceptable if it lies in 1.3% to 3%. The company was maintained on Tuesday, November 17 by Imperial Capital. ( NASDAQ WERN ) opened at $38.80 on Wednesday.

$560M Powerball victor might get prize while suit over privacy rages on
Jane Doe feels like she made an enormous mistake and hasn't turned in the ticket to claim her winnings yet. The store will receive $75,000 for selling the ticket to the eighth largest lottery jackpot in the U.S.

Bayern Munich extends contract of goalkeeper Sven Ulreich
Ulreich later played down Low's remarks, saying that "others have played at a high level for much longer". He told Sport1: "I'm not thinking about a transfer". 'Of course I would like to extend my contract.

AG Sessions Cites 'Anglo-American Heritage' of Sheriff's Office
Yesterday, those words were spoken by Attorney General Jeff Sessions at the National Sheriffs' Association. He didn't need to use the words "Anglo-American heritage of law enforcement" in a speech .

Kansas officials rule that dog candidate can not run for governor
State of Kansas, has been disqualified, though there is no law prohibiting animals from running for elections in the state. But the Woolley family is mostly "astounded" by how the news of Angus' run has "blown up the way it has".

Boeing Co (NYSE:BA) Shares Sold by Berkeley Capital Partners LLC
Capozzi, SVP, sold 4,217 with an average share price of $241.51 per share and the total transaction amounting to $1,018,447.67. L & S Advisors Inc increased its stake in Boeing Co (BA) by 440.31% based on its latest 2017Q3 regulatory filing with the SEC.

That terrifying Boston Dynamics robot dog can open doors now
Whenever Boston Dynamics posts a new prototype video on YouTube , it's quickly trending and gets shared a lot in social media. In the video below, a standard model robot dog can be seen checking out a door that it is sadly unable to open.

United Kingdom basketball looks to end skid at Auburn
Auburn has several players who are capable of elevating their game so it's not like Kentucky can key in on one or two players. The largest lead in the game was 23 before Kentucky rallied to cut the deficit to eight with a minute left.

Possible pricing, display, and chipset for Moto G6 family leaks
The Moto G6 will reportedly house a 3000mAh battery and bear a 12MP + 5MP dual rear camera setup a 16-megapixel front camera. The Lenovo owned brand is preparing to take the wraps off a trio of affordable smartphones at the MWC 2018.

SUVs power passenger vehicle sales in January
The growth driver continues to be the utility vehicles (UV) segment, as it continued to draw a lot of customers, he added. SUVs powered sales of passenger vehicles in the market in January even though volumes for cars saw a marginal decline.

Other news