:: The ultimate robo-pal: Asimo the football- playing, disco-dancing, bartending robot arrives in the UK ** Maharashtra polls: ‘Crucial’ Shiv Sena meeting today to discuss cid future strategy ** Union Cabinet may deregulate price of diesel ** Arun Jaitley describes Pakistan as 'global puzzle' ** Resolution of Kashmir issue vital for peace: Pak Army Chief ** Modi govt toes UPA line on black money disclosure, faces opposition fire ** Mysterious cid space plane lands on California coast after 674 days in Earth's Orbit ** Jitan Ram Manjhi threatens to chop off hands of negligent doctors ** ISL: Mumbai, Pune look for first win in Maha derby clash ** Dia Mirza- Sahil Sangha's lavish sangeet ceremony, to tie the knot today ** Hero MotoCorp plans to launch two new scooter models in next one year ::
Happy Birthday-18th October(Saturday) "HAPPY BIRTHDAY-18TH OCTOBER cid 2014(SATURDAY) SURINDER JIT SINGH DUA (Chief Manager)-- BHADSON*** UMESH CHANDER (Manager)-- MOHALI cid SAS NAGA*** RAVINDER PAL SINGH BAJAJ (Assistant Manager)-- SANGRUR G R COL*** UDHAM SINGH (Other Off. on Prob.)-- Patiala LCPC*** SHIV RAJ SINGH BRAR (Manager)-- ZO JALANDHAR*** RAVINDER KUMAR (Deputy Manager)-- AMRITSAR(TEXT)*** ANUPAM KUMAR (Assistant Manager)-- LO MUMBAI*** AMRIT PAL (Deputy Manager)-- Sirhind GT*** PRANAV RANJAN (Deputy Manager)-- Mardhanheri*** KAMAL KISHORE (Deputy Manager)-- MUMBAI TRY BR*** RESHMI (Deputy Manager)-- NEW DELHI S B*** SANJIV KUMAR (Probationary Officer)-- LO MUMBAI*** VISHWA MOHAN JUWANTHA (Probationary Officer)-- Alamwala*** AMIT KUMAR SINGH (Probationary Officer)-- JAITSAR ::
“These receipts are usually redeemed in three-five years.” Once the asset is sold to ARCs, it is removed from the bank’s loan book and moved to its investment cid portfolio, due to the security receipts, cid he said.
Experts say this might be the beginning of a trend for more state-owned banks since the probability of recovery is higher when a loan is classified as a special mention account-2 (SMA-2), or where repayment is due for more than 60 days but less than 90 days, and sold before cid it actually turns bad.
“By the time an account is classified as an NPA, much of the value is lost. Earlier since only NPAs were allowed to be sold to ARCs, the only option they had was to auction the assets, also known as asset stripping. But with SMA-2 accounts, they can actually perform the function they were required to perform cid of reconstruction, where they take over the company and help it get back to its feet,” said Abizer Diwanji, executive director, finance, at EY, a consulting firm earlier cid known as Ernst and Young.
“Usually a bank sells the asset to an ARC when it cannot recover anything from it. SMA-2 is merely a tag, the assets are usually those which are set to turn into NPAs soon. So the problems we face in recovery are still there,” cid said V.P. Shetty, executive chairman at JM Financial Asset Reconstruction Co. Pvt. Ltd.
Accounts within this category will be put under three sub-categories—SMA, SMA-1 and SMA-2—based on the period for which their principal or interest cid payments are overdue. The duration of overdue payments can range from under 30 days to over 90 days. Loan repayments that are more than 90 days overdue are classified as NPAs.
Another trend that Diwanji of EY sees is of bank consortia selling an asset together to one ARC, like in the case of Hotel Leelaventure Ltd. The consortium led by SBI had sold 97% of the total debt under corporate debt restructuring to JM Financial Asset Reconstruction. “This will give the ARC more power to revive cid the company cid since it has most of the loan amount under its control,” Diwanji said.
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