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English Release 21-August 2014
Date Month Year
  • President's Secretariat
  • Rashtrapati Bhavan’s ‘In-Residence Programme’ to feature two artists and two writers in September 2014
  • Prime Minister's Office
  • PM at Nagpur
  • PM at Mouda, Maharashtra
  • PM at Ranchi
  • Cabinet Committee on Economic Affairs (CCEA)
  • Revision of Rates of Royalty and Dead Rent in respect of certain minerals (other than minor minerals, coal, lignite and sand for stowing)
  • Ministry of Finance
  • Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
  • Text of the Speech of the Union Finance and Defence Minister
  • Min of Health and Family Welfare
  • No Ebola suspect case admitted today to Quarantine cum Isolation Health Facility at Delhi Airport
  • Government considering national, regional dental hospitals
  • Min of Home Affairs
  • DG, Border Guards Bangladesh calls on Union Home Minister
  • Home Minister to Review Flood Situation in Uttar Pradesh
  • Min of Labour & Employment
  • Central Advisory Committee on Beedi Workers Welfare Fund meets under the Chairmanship of Shri Narendra Singh Tomar
  • Min of Mines
  • Revision of Rates of Royalty and Dead Rent in respect of certain minerals (other than minor minerals, coal, lignite and sand for stowing)
  • Min of Minority Affairs
  • 15- Member Delegation from Ladakh Calls on Dr. Najma A. Heptulla
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket increased to US$ 100.32 per bbl on 20.08.2014
  • Min of Power
  • Prime Minister Dedicates to the Nation Mouda Super Thermal Power Project Stage-I (1000 MW)
  • Prime Minister dedicates 765 kV Ranchi-Dharamjaygarh-Sipat transmission line ; Initiates Commencement of work on 3x660 MW North Karanpura Super Thermal Power Project
  • Ministry of Railways
  • Commodity-Wise Freight Revenue Earnings of Railways goes up by 14.72 per cent during the Month of July 2014 & 9.30 per cent during April-July 2014
  • Min of Road Transport & Highways
  • NHAI Board Resolves Some Pending Finacial Disputes/Claims
  • Min of Social Justice & Empowerment
  • Minister for SJE reviews the implementation of Prohibition of Employment as Manual Scavengers and their Rehabilitation Act, 2013
  • Ministry of Tourism
  • India’s Tourism Sector resolves to Co-Create, Collaborate and Co-achieve
  • Full text of the Resolution adopted at the Second National Conference of Tourism Ministers
  • Full text of the speech of the Union Tourism and Culture Minister Shri Shripad Yesso Naik at the inaugural session of the State Tourism Ministers’ Conference
  • Ministry of Water Resources
  • Ministries of Water Resources and Environment & Forests to Work in Close Tandem for Ganga Rejuvenation
  • Min of Youth Affairs & Sports
  • National Sports Awards – 2014

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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