Page 7 - Banking Finance December 2016

BANK UPDATE

BANKING

NEWS
NEWS
NEWS
NEWS
NEWS

PSUs to manage stressed J & K Bank to focus on consolidation, recovery of NPAs

assets of banks: Jaitley J&K Bank Chairman Parvez Ahmed said reduce the impact on the bottom-line
the bank will focus and will improve
With public-sector banks finding it
tough to get new on the recovery of the profitability in
bad loans and con- the years to come.
promoters for
companies in solidation to im- It is area of concern
which they have prove profitability in for us," Ahmed,
gone for strategic coming years. Fur- Chairman and CEO,
debt restructur- ther, the Chairman said that the bank told.
ing (SDRs), Union has formulated a strategy for NPA re- "Once we are sure that we are done
covery.
Finance Minister Arun Jaitley said with the cleaning of the balance sheet,
that the lenders would take owner- "Now our focus will be on the consoli- we will again revive the growth trajec-
ship of stressed assets in steel, power dation and recovery of NPAs at J&K tory and also ensure that we return to
and shipping sectors. Besides, public- Bank. Once we focus on NPA, it will the good old numbers," he added.
sector undertakings (PSUs) such as
NTPC and SAIL would be roped in to Bank chief gets pension after 26 yrs of retirement
manage the stressed assets of banks. Slamming the central government for nance ministry "in national interest" in
denying a retired Bank of India (BOI) 1986 to a "board level" post as a whole
Banks advises customers CMD pension because he time director after com-
was promoted early, the pleting almost nine years in
to change PIN of ATMs Bombay high court has di- a "career level" post. He
Banks have asked customers to rected that he be given all was 51 then.
change their debit benefits with arrears and But after Dahotre retired,
card personal iden- accrued interest starting the finance ministry in
tification number from 1995.
(PIN) and prefer- 1995 said new pension rules required
Gajanan Dahotre, now above 80, who him to have completed 10 years in a
ably use home
bank ATMs follow- worked for 38 years in public sector career level post and withheld his
ing fears of a secu- banks, said he was promoted by the fi- pension.
rity breach at a payment service pro- Licence to Ujjivan for small finance bank
vider. Debit cards of 19 banks, includ-
Ujjivan Financial Services Ltd said its subsidiary Ujjivan
ing those of SBI, HDFC and ICICI
Small Finance Bank Ltd has got RBI licence to set up
Bank, are said to have been affected.
Small Finance Bank business.
BANKING FINANCE | DECEMBER | 2016 | 7

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