All banks, either public sector, private and foreign banks in the country, are mandated to report such instances to the Financial Intelligence Unit (FIU) under anti-money laundering law provisions.
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The Reserve Bank of India has identified 12 of the largest loan defaulters and will order lenders to start bankruptcy proceedings against them to start unclogging the $150 billion in bad debt plaguing Asia's third-largest economy
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Clamping down on bad loans, the Reserve Bank of India identified 12 accounts for insolvency proceedings with each of them having over Rs 5,000 crore of outstanding loans, accounting for 25 per cent of total NPAs of banks
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In fiscal 2016, Citibank's total assets grew 11 per cent to Rs 154,117 crore, while NPAs remain at 0.44 per cent to advances.
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Karur Vysya Bank’s net profit in fiscal 2016 grew 24 per cent to Rs 568 crore, against a mere 6 per cent growth in fiscal 2015, earning it a runner-up spot as the Best Small Bank in the BW Businessworld-PwC Best Banks’ Survey, 2016.
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Since opening its doors in 2004, Yes Bank has become a sizeable bank with total assets rising up to Rs 1,65,263 crore. In fiscal ‘16, advances increased 32.87 per cent, when credit growth has been just about 15 per cent.
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In fiscal ‘16, the bank’s advances increased 12 per cent to Rs 4,35,264 crore, and it’s balance sheet grew phenomenally at 42 per cent to Rs 7,08,846 crore.
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