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English Release 31-October 2014
Date Month Year
  • President's Secretariat
  • Education will be the single biggest transformative factor in catapulting India into the league of developed nations, says President
  • President of India congratulates Pankaj Advani on achieving 12th world title in Leeds
  • President pays floral tributes to Sardar Vallabhbhai Patel
  • Prime Minister's Office
  • Text of PM’s address at 'Run For Unity' at Rajpath on the occasion of Rashtriya Ekta Diwas
  • PM receives personal belongings of Sardar Patel, on his 139th birth anniversary
  • Sidelights – Run For Unity Event at Rajpath, New Delhi
  • PM flags off, joins Run For Unity on Sardar Patel Jayanti
  • PM remembers Smt. Indira Gandhi on her Punya Tithi
  • PM pays tributes to Sardar Patel on his birth anniversary
  • Election Commission
  • General Election to Legislative Assemblies of Jharkhand and Jammu & Kashmir 2014 - Allotment of Broadcast/Telecast time to Political Parties – regarding
  • Min of Agriculture
  • Kharif Rice Area Coverage
  • Min of Commerce & Industry
  • Index of Eight Core Industries (Base: 2004-05=100), September, 2014
  • Department of Commerce calls for creative participation for India’s participation at Hannover Messe
  • Min of Defence
  • Minor Incident Involving Naval Ship
  • Indian Warships Visit to Port Louis
  • Ministry of Finance
  • Auction for Sale (Re-Issue) of Government Stocks
  • Major Focus of the Government is to Bring Back the Growth Momentum: Finance Minister
  • Auction for Sale (Re-Issue ) of ‘8.30 per cent Government Stock, 2040’
  • Auction for Sale of a new Government Stock of 19 Years
  • Auction for Sale (Re-Issue ) of ‘8.60 per cent Government Stock, 2028’
  • Auction for Sale (Re-Issue) of ‘8.27 per cent Government Stock, 2020’
  • Subash Chandra Garg Relieved to take up His New Assignment As Executive Director, World Bank, Washington D.C.
  • Rajiv Mehrishi takes over as Secretry, Department of Economic Affairs, Ministry of Finance
  • Min of Health and Family Welfare
  • MoU with Spain on organ transplantation soon
  • Min of Home Affairs
  • MoS Home Kiren Rijiju participates in ‘Run for Unity’
  • Text of Home Minister's speech at NPA, Hyderabad
  • Cyber Crime Prevention Strategy will be Strengthened: Home Minister Shri Rajnath Singh
  • Home Secretary Administers Rashtriya Ekta Diwas Pledge
  • “Police Stations should become Temples of Justice,” says Rajnath Singh
  • Min of Human Resource Development
  • 2nd Meeting of SAARC Education Ministers Held
  • Min of Parliamentary Affairs
  • Standing Committee on Railways invites suggestions on Railways(Amendment) Bill, 2014
  • Min of Personnel, Public Grievances & Pensions
  • Central Armed Police Forces (Assistant Commandants) Examination, 2014 Declaration of Result of Written Part
  • Min of Petroleum & Natural Gas
  • Constitution of Steering Committee for successful implementation of “Make in India” campaign in the Oil and Gas Industry.
  • Global crude oil price of Indian Basket was US$ 84.77 per bbl on 30.10.2014
  • Ministry of Railways
  • Railway Protection Force hosting 15th All Indian Police Band Competition
  • Min of Road Transport & Highways
  • Institute of Driving Training & Research to be inaugurated tomorrow at Pune
  • Electronic Toll Collection System makes Delhi-Mumbai Drive Faster and Cheaper
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on October 30, 2014
  • Min of Women and Child Development
  • SRB to be raised by 10 basis points every year

Previous Date

 
Ministry of Finance29-November, 2012 17:44 IST
Rules on Loan Recasts

After the Second Quarter Review of Monetary Policy 2011-12 by the Reserve Bank of India (RBI), a Working Group (WG) was constituted under the Chairmanship of Shri B. Mahapatra, Executive Director, RBI to review the existing prudential guidelines on restructuring of advances by banks/financial institutions and suggest revisions taking into account the best international practices and accounting standards.

The Working Group had representation from a few select banks. Further, the report of the Working Group was placed on the website of the Reserve Bank for comments of all stakeholders including banks.

Given the larger objectives of financial stability and keeping in view international best practices to ensure that banks have sufficient provisioning buffer, RBI has announced, in its second review of Monetary Policy, to raise the provision for restructured standard accounts from the existing 2 percent to 2.75 per cent.

To address the issue of rise in NPAs and restructured advances of banks and with a view to improving effective information sharing among banks on credit, derivatives and unhedged foreign currency exposures, banks are advised to put in place, by end-December 2012, an effective mechanism for information sharing. Any sanction of fresh loans/ad-hoc loans/renewal of loans to new or existing borrowers with effect from January 1, 2013 should be made only after obtaining/sharing necessary information. Banks have been advised that non adherence to these instructions would be viewed seriously by RBI and banks would be liable to action including imposition of penalty wherever considered appropriate.

The compliance to the above regulatory and supervisory measures are aimed at reducing growth in NPAs and restructured advances by banks are being closely monitored by the RBI on an ongoing basis.

This was stated by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Rajya Sabha today.

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