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m3n4.net May 23, 2018


Karnal firm cheats PSU bank of Rs 155 crore

13 May 2018, 12:15 | Vera Richards

Taken to the Cleaners The price of dry cleaning a suit in Oslo is 30% above the European average Source Zipjet

Taken to the Cleaners       The price of dry cleaning a suit in Oslo is 30% above the European average              Source Zipjet

However, Indian Bank's gross non-performing assets (NPA) were at Rs 11,990.14 crore as of March 31, up from Rs 9,865.13 crore in the year-ago period.

The public lender on Thursday, reported a standalone net loss of Rs. 2,583 crore for the March quarter as against a net profit of Rs.108 crore in the same period previous year, with higher provisions, contingencies and loss in investment hurting profitability.

This was the 10th quarterly loss in a row for the troubled lender that was weighed down by sharp deterioration in asset quality.

Public sector lender Oriental Bank of Commerces (OBC) net loss widened to Rs 1,650.22 crore for the quarter ended March of 2017-18.

Vijay Mallya loses United Kingdom case, Banks can now recover Rs 10000 crore
Now, he has little choice but to directly petition the UK's Court of Appeal, which is second only to the country's Supreme Court. Mallya's purchase of a Ferrari 246 GTS with an estimated value of 480,000 pounds was also questioned by the Indian banks.

Net interest income in the reporting quarter was up 11 per cent year-on-year (yoy) at Rs 501 crore.

Gross NPAs or bad loans as a percentage of gross advances at the end of March 2018 stood at 17.63 per cent, up from 13.73 per cent a year ago.

The lender said its provision coverage ratio (PCR) improved to 62.91 per cent in FY 2017-18 up from 50.11 per cent in FY 2016-17.

The bank has made a provision of Rs 426 crore against sticky accounts which were referred to the National Company Law Tribunal under Bankruptcy Code.

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Manuel and Patricia Oliver, who lost their son Joaquin in the Florida high school shooting, also came to Dallas . The rally, one of two gun control protests , was organized by the newly formed NoRA - or "No Rifle Association".

Total income in the entire 2017-18 fiscal stood at Rs 20,181.25 crore, lower from Rs 21,187.85 crore a year ago.

Its return on assets became negative at (-) 0.03 per cent at the end of March quarter as against 0.15 per cent in the year-ago.

In 2016-17, it had reported a net loss of Rs 863.63 crore; in 2015-16, it Rs 935.32 crore. The board of United Bank of India, another city-based bank, has approved the raising of Rs 1500 crore in multiple tranches through various modes.

Allahabad Bank reported a net loss of Rs 3,510 crore and UCO Bank a Rs 2,134 crore loss. He is heading the manufacturing operations of the company's cement business.

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