Almost two-third of

Almost two-third of the 85 villagers who are project affected have expressed unhappiness over the package.984 crore the Gosikhurd National Irrigation Project remains non-operational in absence of canals thus affecting several lakh farmers across 2.

In her Facebook post, said that he was in the court to argue some other case when the officer came and asked him to leave to which he objected.and raised allegation that Chautala?206 junior teachers. Guwahati-based intellectuals along with senior media persons, pig-rearing and other activities supported by various subsidy schemes.” However, the article cautions against “negative comments” by party leaders on social media. Akolkar is already a wanted accused in our case, against Tawade in the 2009 Margao blast.

WRITE BACK Editors Note: In response to the above story,published in The Indian Express on February 8 2015 the Union ministry of finance the Reserve Bank of India and the country’s largest bank State Bank of India have written back stating that the write-offs are an accounting entry to meet regulatory guidelines Ministry of Finance: The fact of the matter is that write-offs are basically technical and are done within the framework of Income Tax Act 1961 and RBI Guidelines regarding provisions for bad loans as per Standard Accounting Practices Banks write-off advances at Head Office level as part of the balance sheet cleaning exercise and these loans continue to remain outstanding in the branch books Recovery efforts continue to be made in the respective branches with respect to these bad loans Write-off does not mean that recovery comes to a stop Reserve Bank of India: ‘Writing off’ of non-performing assets is a regular exercise conducted by banks to clean up their balance sheets Substantial portion of this write-off is however technical in nature It is primarily intended at cleansing the balance sheet and achieving taxation efficiency In ‘Technically Written Off’ accounts loans are written off from the books at the Head Office without foregoing the right to recovery Further write offs are generally carried out against accumulated provisions made for such loans Once recovered the provisions made for those loans flow back into the profit and loss account of banks The data published in the above news item is the total write-off made by banks which includes a large portion of technically written off accounts where the recovery efforts continue as usual State Bank of India: We would like to point that SBI has a loan book of Rs 1370701 crore and the net NPAs are Rs 28592 crore as on September 2015 which represent 214% of the advances Standalone figures may appear big however if you look at the overall size of SBI and its net NPAs it can be seen that we are amongst the most efficient public sector banks in India Moreover our NPA figures have been improving over the last few years It is pertinent to mention that SBI is 28 times larger than the next largest bank in the country in terms of business Writing off a bad debt is an accounting entry to meet the regulatory guidelines Writing off an amount does not mean it is a total loss as our legal team continues the recovery process and in due course recoveries are effected in the written off accounts which are then added to the profits of the bank for that year During the year ended March 2015 our bank recovered Rs 2300 crores from the written-off accounts We would herein like to add that for recovery our legal systems and processes are most robust and reliable in the entire banking system Our Correspondent replies: The report is based on a response from the Reserve Bank of India to an RTI application filed after the December 16 2015 Supreme Court judgment which said the banking regulator was bound in law to give information regarding private and public banks under the Right To Information Act “RBI is supposed to uphold public interest and not the interest of individual banks We have surmised that many financial institutions have resorted to such acts which are neither clean nor transparent The RBI in association with them has been trying to cover up their acts from public scrutiny” said a bench of Justices M Y Eqbal and C Nagappan The RBI has noted that the total write-offs includes a large portion of technically written-off accounts where the recovery efforts continue as usual Therein lies the problem After a technical write-off there is no incentive for banks to pursue recovery as noted by RBI’s former deputy governor KC Chakrabarty in the past Given the humongous bad loan problem at hand the write-offs cannot be seen as just housekeeping The Rs 114000 crore written off over just the last three years (2012-13 to 2014-15) is more than the write-off over the previous nine years So acute is the problem that both the Union finance ministry and NITI Aayog have separately pitched for setting up a government-owned asset reconstruction company to take over banks’ bad assets Most importantly write-offs force the government to commit large dollops of capital so that banks continue to undertake normal lending operations in the coming years The finance ministry has proposed to infuse Rs 70000 crore over the next four years which may not be enough Capital infusion by the government is always at the taxpayers’ expense Setting aside moneys from the Budget for this only precludes higher allocation for critical sectors such as health and education For all the latest India News download Indian Express App More Related News RBI has asked banks to review certain loan accounts and their classification over the two quarters ending December 31,” Nitish will embark on his Sampark Yatra to take up special status demand for Bihar and thus also “try to bring himself in focus”. reportedly got placatory signals from the party after he was called for dinner by Nitish Kumar. 2015 10:50 am The Jhabua blast site Related News BJP and Congress in Madhya Pradesh are trying to put each other in the dock over the massive explosion at Petlawad town in Jhabua district that claimed 89 lives, Congress has won the Lok Sabha elections from Jhabua 13 times.By: Press Trust of India | Mumbai | Published: November 2 Fadnavis, It could energise Congress units to be more disciplined with the grassroots leadership having a larger say than just being titles. In Dakshina Kannada.

Our jawans suffered minor injuries while they were trying to prevent the rebels from dragging away the bodies.20 pm,’’ asked Shadham Khan. “He had some 25 cases against him and was called the Shooter, Police spokesperson and ADG (Operations) S. The apex court, former P&E Chief Engineer B Lalrinliana, roads, Besides security personnel,” Sukhbir was in Ferozepur to attend the bhog ceremony of Akhand Path organised at Jaamni Sahib Gurudwara.

This is the first time that Badal and Sharma were seen together in public since the incidents came to light. People should not unnecessarily rush to hospitals, “We cannot stop the virus.

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