CHENNAI CIRCLE

[12:08, 6/26/2017] +91 87786 66590: Banking and Financial News as per Today’s Newspapers and Media 25.06.2017

RBI has widened the scope of its  banking ombudsman platform for addressing mis-sell of third party products, and customer grievances on and mobile banking and electronic banking issues, recognising customers’ plight in dealing with such troubles. The new rule will be effective from July 1, and the banking ombudsmen will enjoy more power in their pecuniary jurisdiction.  The pecuniary jurisdiction of the Banking Ombudsman to pass an Award has been increased from existing Rs 10 lakh to to Rs 20 lakh.
-Economic Times

The Govt is looking to create a bigger bank in the next round of consolidation by getting Canara Bank to take over smaller banks,  Vijaya Bank and Dena Bank. “Discussions are on between banks. There is a possibility that first Vijaya and Dena merge, before being taken over by Canara Bank,” a senior Government official told.
-Economic Times

A consortium of lenders has given  Punjab National Bank  the mandate to begin bankruptcy proceedings against Bhushan Power and Steel, one of the largest defaulters among the 12 companies identified by the RBI. The co, promoted by Sanjay Singhal, has outstanding loans of more than Rs 55,000 crore and is being investigated by the Serious Fraud Investigation Office (SFIO) for possible diversion of funds.
-Economic Times

The CBI has registered 16 cases on complaints received from Corporation Bank related to alleged fraud involving 3 branches at Vasant Vihar, Vasant Kunj and Aali in Delhi. Among the accused are then chief managers, senior managers and branch managers of the bank and some private persons. Searches were conducted on Friday at 13 places, including Delhi,  Ghaziabad and Ahmedabad, at the premises of accused leading to recovery of documents. This is in addition to 3 more cases of bank fraud in the Vasant Kunj branch of Corporation Bank. Searches were also conducted at 10 places on June 1.
-Economic Times

HDFC chairman Deepak Parekh has reiterated his plea for the RBI to allow  housing finance companies to fund land acquisitions as it will help reduce the interest rates for developers and lower the cost of homes for consumers.
-Economic Times

Led by the most populous UP and the largest Rajasthan, the gross fiscal deficits of all the states skyrocketed to Rs 4,93,360 crore in fiscal 2016 from Rs 18,790 crore in FY1991, according to the latest RBI data. According to the second edition of RBI’s statistical publication titled ‘Handbook of Statistics on States 2016-17’, which was released today, the gap is projected to improve to Rs 4,49,520 crore as per the budget estimates of the states for fiscal 2017.
-Business Line is

Maharashtra CM Devendra Fadnavis has announced the ‘biggest ever’ loan waiver in the state upping the loan waiver limit from Rs 1 lakh to Rs1.50 lakh per farmer. Announcing the decision Fadnavis said that 90% of the farmers will be benefitted from the move.
-Economic Times

After appointing an administrator to oversee Sahara India Life Insurance’s business, the… Read more
[12:09, 6/26/2017] +91 87786 66590: Resolve 55 accounts in six months under bankruptcy code: RBI to banks

NEW DELHI: Reserve Bank of India (RBI) has asked banks to resolve 55 high value cases ofbad loans within six months or face the prospect of being directed to go in for the new insolvency resolution mechanism as part of the strategy to rein in unacceptable level of non-performing assets (NPAs).

Earlier this month, RBI identified 12 accounts for insolvency proceedings with each of them having over Rs 5,000 crore of outstanding loans, accounting for 25 per cent of total NPAs of banks.

RBI has asked banks to find solution for 55 identified NPA accounts within six months otherwise the central bank would examine those cases and refer for resolution under the Insolvency and Bankruptcy Code (IBC), official sources said.

RBI is of the view that banks should expedite the NPA resolution process for these cases as soon as possible, the sources said.

In cases where a viable resolution plan is not agreed upon within six months, banks would be asked to file insolvency proceedings against the defaulters under the IBC, sources added.

The banking sector is saddled with NPAs of over Rs 8 lakh crore, of which Rs 6 lakh crore is with public sector banks (PSBs). The 12 identified cases account for 25 per cent or about Rs 2 lakh crore of NPAs.

IBC has defined time-frame for the resolution and there is 14-day time period for admission or rejection of a case by National Company Law Tribunal.

After a case is accepted by NCLT, the creditor would get 30 days to hire insolvency practitioners and then the entire process to be completed in 180 days which will look at various possibilities including revival of projects or liquidation.

RBI had set up an Internal Advisory Committee (IAC) for such cases that may be considered for reference for resolution under the IBC, under which the 12 accounts were identified with fund and non-fund based outstanding amount greater than Rs 5,000 crore as of March 31, 2016.

These measures were announced by RBI following an ordinance giving it wide-ranging legislative powers to fight NPAs.

The ordinance authorised RBI to issue directions to banks to initiate insolvency resolution process in the event of a default under the provisions of IBC.

RBI has been equipped with powers to specify one or more authorities to advise banks for dealing with the problem of NPAs which, as per the Ordinance, “have reached unacceptably high levels and urgent measures are required for their resolution”.

The law will also empower RBI to set up sector related oversight panels that will shield bankers from later action by probe agencies looking into loan recasts.

RBI has expanded the oversight committee by appointing three more members to the high-level panel that will vet the process to resolve mounting bad loans bogging down the banking industry

Ots settled account d4 ….recovered 6.20 lacs today. Totally 14.5 lacs within this 2 months in madathukulam branch.
Today sankarandampalayam br recovered one kccs w/o account 50000 & El Loss asset Rs 36000…
Today we recovered 13lacs, 2.25 lacs in d4 asset. Dharapuram

Tirupur Region branches 👆

Sadayampalayam branch reported 9 lacs recovery in npa account in which we visited through our canpal cluster. Kudos to mgr radha sir and Aeo Sunanda.

Tiruppur region

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Today as part of Recovery Fortnight, Thiruvottiyur team Canpals made a Cash Recovery of Rs. 1,80,000 from Doubtful assets. Account will be upgraded. Loan no. 916.603.5259. Momentum is On…

Friends, Vivek brother of sankarandampalayam branch has reported that he has recovered Rs. 40.00 lakhs from Jan 17 in NPA accounts.
Three Kccs and one Kod fully recovered amounting to Rs.10 lakhs.
Ten OTS settled. 10 lakhs recovered from three OTS accounts. 5 lakhs will be recovery by month end.

Marvellous achievement by him being a Scale I officer heading the branch. Congrats Vivek. All your efforts will get materialised and you will reach your targets.

RS Tirupur

Dear friends

Chennai team as a part of Women’s day celebration went for branch visits to create awareness & motivate women colleagues.

First we greeted our newly joined GM Smt S Srimathy who extended us a warm welcome and expressed that she was very much moved.

We also greeted our DGM SMT Snehalatha Johnson, RO I DM Smt Bhavani Manager and other lady colleagues in CO/RO.

We encouraged our youngsters to take up promotion and take more lead in bank’s & CBOA’s development. We were accompanied by our Circle office women comrades.

We then went to Teynampet branch, FD Chennai, Mid corporate, Prime corporate, NRI Branch, RAHI, LPC, CPC Cell & Mount Road branch.

This being my first branch visit with women comrades, gave me an opportunity to meet all our CANPALS.

We requested our women colleagues to form recovery teams & envisaged upon them the need of the hour – recovery in D4 / loss /written off assets.

We also canvassed one thrift society membership .

I thank our GS Sri MANIMARAN sir, Sri Shanmugam, Treasurer, Sri M K Anand, DGS and Sri Ravishankar, RS who gave me confidence to lead a women team for branch visits.

CBOA Zindabad

Anuradha
CC, CBOA Chennai

Recovered Rs.93.00 lakhs from NPA by our Canpals Sakthi,Bijju and Venkat under the guidance of Sri Jebasteen Sir CM

Anand M K

Dear friends

Happy to inform that we have obtained membership from Sri.Srinivasan, Officer, Chidambaram who was in CBOU.

I thank Mr.Manoharan, RC member Sirgazhi & young officer Sri.Prasath, FD, Chennai in getting his membership.

CBOA Zindabad.

Regards
Anand M K
DGS & Circle coordinator
CBOA Chennai

Rpt on :6.03.2017-As per our beloved GS vision and mission our ashok nagar Chennai branch has recovered an amount of Rs116000 and one substandard account has been regularised
Another loss account we have recovered Rs.20000.
Anuradha CC Member TN

From Kk Nagar branch. Met 6 NPa borrower. One borrower assured to pay 40000 tomorrow. Others also assured to clear within 10 days. Thanks to madam poongodi and udaykumar sir.
Jayanthi Kk ngr

CANPAL ACTIVITY AT THADUR BRANCH Under the DYNAMIC leadership of DM K Srinivasan, RO 2, SM Subramaniam P, Thiruvallur, Mgr Sathishkumar S, Pallipattu, Mgr P Joshua Gnanaraj Thadur, Offr Miss B Dharani Devi, AEO Miss Indumathi met 20 NPA customers by travelling 97 Kms. Customers assured to clear the overdues within 5- 7 days.

Thadur

BIG CATCH – Met OCC NPA customer of TIruvottiyur branch at this residence, customer was astonished with Canpal Efforts and assured to regularize OCC account of Rs. 45 lakhs before 15th of March. Rs.10,000 spot recovery made in one EL account of Tondiarpet branch. Kudos to our Recovery team headed by Thiru. Ganesan DM RO II, Sri Nagaran, SM Tondirpet branch, Sri Rathakrishan, Mgr, Sri. Sathish Kumar, Assistant Regional Secretary Tiruvottiyur branch, Smt Sai Officer and Sri Vinay Officer Tondiarpet branch….. AWESOME TRIPS BY CANPALS ……

CANPAL Team of Sri.Ravi Shankar, RS Chennai RO I, Sri.Durairaj, Chairman, Kanchi, Sri.Hariharan, Manager, Chrompet, Ms.Poovizhi, Manager, Sriperumpudur, Sri.Sasikumar, Manager, CO, Chennai, visited NPA borrowers of Cheompet, Pallavaram, Hasthinapuram and Tambaram branches and 2 borrowers assured to clear overdues by 5th March.

Olaipatti village 10 D4 parties met and out of ten 4 parties promised to come for OTS before 7th march.

Canpal recovery of TC St met One HL party of valasarawalkam at their resident at TC St Chennai. Party assured to clear overdue of 5 lacs.
One EL party Sri T Karthik met in their house assured to settle It’s on coming Saturday.
Another EL party settled in Lok adalat shown his willing ness to pay in next 10 days

Gajendra sah and Vijayasankar

Today we S Amanda Natarajan, CM and Anuradha CC Member from Ashok nagar Chennai branch visited n early twenty parties under D4 . One El party contacted and assured to remit Rs.50000 tomorrow and balance at the earliest and another party Assured to come and remit within 1p days.
CBOA ZINDABAD
Anuradha CC Member

CANPAL Bargur & Karakuppam team  visited Bargur Town, Chinna Bargur, Jagadevi Road, Neralakottai, Ganesh Nagar, Bharatha kovil, Oppathavadi and Ankinayanapalli and Karakuppam Branch service Areas.

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AS PER THE CALL GIVEN BY OUR GS, CANARA BANK NIOT BRANCH CANPALS MS.KUMMARA SUHASINI,OFFICER,MS.KARTHIGA,OFFICER,MR.JAYENDRAN ,SM ALONG WITH  Ms.KASTHURI,BM,ADAMBAKKAM, MR.KARTHIK KUMAR, MO& MR.NATRAJAN,BM,POLLUTION CONTROL BOARD MET THE D4/LOSS ASSET NPA  CUSTOMERS OF NIOT BRANCH TODAY. THE CUSTOMERS WERE SURPRISED TO SEE US AS EARLY AS 8 AM IN THE MORNING ON SUNDAY . 5 CUSTOMERS HAVE PROMISED TO CLOSE THEIR LOAN ACCOUNTS THROUGH OTS .

AS PER THE CALL GIVEN BY OUR GS, CANARA BANK NIOT BRANCH CANPALS MS.KUMMARA SUHASINI,OFFICER,MS.KARTHIGA,OFFICER,MR.JAYENDRAN ,SM ALONG WITH  Ms.KASTHURI,BM,ADAMBAKKAM, MR.KARTHIK KUMAR, MO& MR.NATRAJAN,BM,POLLUTION CONTROL BOARD MET THE D4/LOSS ASSET NPA  CUSTOMERS OF NIOT BRANCH TODAY. THE CUSTOMERS WERE SURPRISED TO SEE US AS EARLY AS 8 AM IN THE MORNING ON SUNDAY . 5 CUSTOMERS HAVE PROMISED TO CLOSE THEIR LOAN ACCOUNTS THROUGH OTS .741

Promotion classes at RSTC Chennai by Sri Sivakumar SM mount road Chennai147

Our CBOA has come out with promotion study materials and as advised by our GS our Chennai Region has started conducting classes from today at our RSTC Chennai and the class was attended by 45 promotee aspirants of all scales from clerical to SM.
Today classes were handled by Sri.Sekar, SM, West Mambalam, Chennai on Deposit and KYC and afternoon session by Sri.Ananthakrishnan, Officer, CO, Chennai on Tech products.
The classes will be conducted on all weekends and also on holidays. Please inform all our friends.

Ravi Shankar R10

: As per ANNA’s continues motivation our Annanagar branch with the help of canpals team mr.soundararajan,murthy,Sundeep, madam.padmashree,vijaya,Shreesha,meenambigai with the guidance of AGM vasudeva rao , And association leaders shanmugam,gajendra sha,venkataiah. We are able to recover loss assets to the tune of RS.511000/- from four accounts for this week 9/3/2017 to 13/3/2017. Details below 1. Vijaya Nirmala 974.256.831 -4 lacs. 2. Bharathi 974.626.171 – 56000. 3. Pradeep Peter 974.741.374 – 2000 4. Paramaguru bose 974.626.145- 53000. Thanks for the continuous effort. CBOA zindabad /GVM zindabad . T sankar ,ARS Region II
: Recovered rs.15000 from loss asset. Customer promised to close by remitting rs.80000 by next week. Msg from jayendran Niot Chennai

76Chennai Triplicane branch celebrating its 54th anniversary 💐💐

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Second day of Promotion classes organised by our CBOA commenced at RSTC chennai. Morning session taken by Sri.Ashok Kumar, SM, RSTC.5

Recovered Rs.108134 overdue in HL 0930619004337 on 160317.Rs.10000 recovered in 90 days overdue 0930626000014 on 180317.Rs.4938 recovered in 70 days overdue 0930768000002 on 170317.overfue removed.Rs.9213.32 recovered in 59 days overdue 0930607004322 on 090317.overdue removed.Rs.7300 recovered in EL 0930651004288 on 200317.Rs.1081 recovered in DPN 0930741004335 on 010317 out of overdue of Rs.1448.Rs.21500 recoveredon 010317 out of overdue of Rs.29834.
 Aravind Gopalapuram

 Recovered Rs29000/-in a NPA SME account on 20.3.17 tnpcb natarajan
 Recovered SB 0930132000007 debit balance of Rs.55965.84 on 200317 regularised by way of credit Rs.500000 on 220317. Sendet ARAVIND GOPALAPURAM
 Recovered Rs85089/ and closed one loss asset -Besant Nagar Branch
Recovered Rs.165000/- in one EL NPA account on 16.03.2017 – Thousand Lights Branch

⁠⁠ ⁠⁠⁠Dear friends At present our Thrift membership is 3800. Our CANPALs are more than 24000 in numbers. Recently we added 225 CANPALs to Thrift. I thank Sri.Hanumanthappa, RS, Davangere, for enrolling 124 members in Thrift. Friends, now all our office bearers & volunteers are visiting & assisting branches in D4 / loss /written off accounts. We can utilize this opportunity to enroll members in Thrift society. We are going to conduct our CC meeting at Jaipur this month. If each region can add 60 members to Thrift, we can easily achieve 10000 members. I kindly request all RS to enroll our members in Thrift & realize the dream of our beloved GS – A payment bank by CBOA. Membership appl & FAQs attached. CBOA Zindabad Regards Anand M K DGS & Circle coordinator CBOA Chennai

CLASS AT RSTC CHENNAI

Dear friends

Sri.Jaganathan, Faculty, RSTC, Chennai conducting promotion classes in CO, Chennai today.

More than 125 members are attending the classes.

CBOA Zindabad

M K ANAND

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HL 90000.00 & auto loan40000.00 both cash recovery and . HL comes out from NPA. Big catch. Today we have met more than 20 borrower s and travelled more than 50km for two branches only. Due to local festival and other reason not able to cover Parandur and Maduramangalam.

With able guidance of our GS. We made our first attempt. CBOA ZINDABAD GS ZINDABAD

Govindan j Kanchipuram regional secretary

Canpal recovery team @ Adambakkam . Smt Kasthuri & Smt Anuradha along with SRI Venkatesh Perumal, DM visited parties of Adambakkam branch and Madipakkam branch.

Then we came to MEDAVAKKAM branch. There our Treasurer SRI Shanmugam gave us surprise with host of executives Dr. Duraipandi, DGM, SRI JAYACHANDRA,AGM, SRI SELVARAJ, AGM  and Smt Farida, DM joined us

We have visited the borrowers of SME Perungudi branch SM and myself visited borrowers in different parts of city around the branch. The first borrower welcomed us and was willing for OTS/ Compromise. We told him the amount , he told he will visit the branch shortly. There was  another  customer who was  reluctant and we impressed upon him  the legal outcomes. We were also able to trace a long absconding borrower, with reliable sources. We will be visiting her shortly. We also visited to locate few more borrowers and concluded the day. Our mission of meeting borrowers is successful. March balance sheet will be CanPals balance sheet. GS Zindabad. CBOA Zindabad.

J govindan Kanchipuram

Chennai CBOA canpal recovery team of T.lights district headed by Ramesh Babu, K.H.Road,mgr and Karthik ,Royapettah,mgr,met various parties in and around kodambakam .K.H.Road branch DPN parties responded well and was able to recover Rs.35000 in 4acounts in D4/NPA and Royapettah branch recovered /assured of Rs.20000/- in various accounts.

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Sadayampalayam branch reported 9 lacs recovery in npa account in which we visited through our canpal cluster. Kudos to mgr radha sir and Aeo Sunanda.

Tiruppur region

Ots settled account d4 ….recovered 6.20 lacs today. Totally 14.5 lacs within this 2 months in madathukulam branch.
: Today sankarandampalayam br recovered one kccs w/o account 50000 & El Loss asset Rs 36000…
Today we recovered 13lacs, 2.25 lacs in d4 asset. Dharapuram

 

 Tirupur Region branches 👆

Vellakovil branch recovered Rs. 25 lakhs and closed one NPA account.

RS Tirupur

Today as part of Recovery Fortnight, Thiruvottiyur team Canpals made a Cash Recovery of Rs. 1,80,000 from Doubtful assets. Account will be upgraded. Loan no. 916.603.5259. Momentum is On…
Msg from Satish thiruvottiyur Chennai

.momentum is on….
Today too we recovered 2 lacs from df asset in our brancg
From madathukulam
Meenakshi
ARS Tiruppur region

 S…really we r proud of our CBOA…
As proud CANPAL…. We Madathukulam team had settled 5 accounts in recent Mega Adalat and recovered an amount of Rs. 245000 as spot payment. Two accounts fully settled. Other 2 DF assets part payment paid. One another account promised to pay full 6.5 lacs before mar 31st.
S we canpals doing our duty….👍🏼👍🏼👍🏼👍🏼
Meenakshi ARS TIRUPPUR REGION

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Yesterday Salakadai branch recovered 5 lakhs in NPA accounts with liability. Rs.. 51 lakhs of D4 asset..
Today 51 lakhs regularised..
Tiruppur Region

 During this week we are settled 3 El & one Agri loan both loss asset settled through OTS single payment recovery is 8.80 lakhs. One housing loan doubt full asset recovery 2.50 lacs. Team Govindapuram

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EL loss asset
Today recovered 5 lacs…full settlement….Madathukulam branch

ARS Tirupur Region

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Second day promotion classes on in Erode region  _ Arunkumar4

Our Arachalur branch led by our Canapal Sathish has recovered nearly 2.7 lakhs from loss assets
By Erode Region

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Salem RO coaching classes conducted today with good number of participants.

-MANIVASAGAM RS

Our Theerthamalai(1128) branch today Recovered around Rs.6.5 lakhs from more than 15 written off Accounts.

Regards
Ramesh Kumar
RS Dharmapuri Region

 Ramesh ji on 16th can Adalat we have settled 10 accounts liability amounting to Rs.13 lakhs for RS 8.21 lakhs spot recovery 4.86 lakhs.
 Out of 4.86 Rs.2.24 lakhs loss asset EL account
 On 18th we have recovered one HL SARFAESI ac 1 lakh
Term loan SARFAESI ac 50000 n kccs 50000 total Rs.2 lakhs
 Today we have recovered SARFAESI initiated eauction HL ac RS.35.50 lakhs.
 Today one kccs d3 fully recovered RS 14800/
 Tomorrow Rs 5 lakhs expected from a tractor loan ots …
Team Arni👍👍👍👍 

Today we have recovered Rs.2 lakhs in a tractor loan as ots final settlement and Rs.25000/_ from AL loss asset… Canpal, Arni.

Regional chairman, R O, Dharmapuri Region

Canpal Arni happily reports that today we have recovered Rs.17.50 lakhs from a single party having 3 NPA accounts since 2005.

Two accounts are D4 and one account is doubtful 1 year.

These are OTS full n final settlement.

Regional chairman, Dharmapuri R.O👍👍🙏🙏

Theerthamalai Branch – Dharmapuri Region Today Recovered Rs.3.5 Lakhs from Written Off Accounts.
RS Dharmapuri Region

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