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TMI BlogFunctioning of Public Sector BanksX X X X Extracts X X X X X X X X Extracts X X X X ..... Functioning of Public Sector Banks - News and Press Release Dated:- 25-3-2017 - News - In August 2015, the Government formulated Indradhanush Plan under which measures were introduced to improve operational and capital efficiency of Public Sector Banks (PSBs). Key Performance Indicators (KPIs) were outlined for all PSBs and cash incentives were introduced for fulfillment of these KPIs. These ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... KPIs included measures such as efficiency of capital usage, diversification of business processes and NPA management etc. Further, the government made available funds to the tune of ₹ 70,000 crore for infusion in PSBs till FY 19 to confirm with capital adequacy norms outlined under Basel III. The Government also allowed PSBs to raise capital through Follow-on Public Offer (FPO) or Qualified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Institutional Placement (QIP) by diluting Government of India holding upto 52% in phased manner based on their capital requirement, their stock performance, liquidity, market conditions etc. Gross NPAs of Public Sector Banks (PSBs) have shown an increase during the recent years. NPAs have risen from 9.83% as on March 2016 to 12.23% as on December 2016 in respect of PSBs. The increase in NPAs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is due to slowdown in recovery in the global economy and continuing uncertainty in the global markets leading to lower exports of various products like textiles, engineering goods, leather, gems etc. A roadmap has been prepared by the Government for improvement in functioning of Debts Recovery Tribunals (DRTs). These include setting up e-DRT project, computerization, scanning and digitization ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of legacy records, creation of online DRT portal (www.drt.gov.in), providing IT infrastructure, adequate office space and other infrastructure. Further, to strengthen DRTs, the Recovery of Debts Due to Banks and Financial Institutions (RDDB FI) Act, 1993 was amended in 2016 to rationalise the procedures and timelines followed by these Tribunals for expeditious adjudication and speedier resolutio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of defaulted loans in time bound manner. In order to augment capability of DRTs, regular training programs are being conducted for Registrars, Assistant Registrars, Recovery Officers and other staff. Six new DRTs have been established at Bengaluru, Chandigarh, Dehradun, Ernakulam, Hyderabad and Siliguri by the Government for speedier disposal of cases. This was stated by Shri Santosh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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