Discover and read the best of Twitter Threads about #NPAs

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#YesBank Story

How Rana Kapur gobbled 5000 crore in kickbacks

Give out loans to doubtful Co's
They become NPA's
Instead of declaring em NPAs & initiating recovery proceedings, Kapoor conspired with the companies & got them to invest in firms run by his wife & daughters.
In 2015, @RBI, under asset quality review, the RBI inspectors found that #YesBank had suppressed its NPAs — reportedly underreporting the same by Rs 2,299 crore in 2018-19, Rs 6,355 crore in FY 2017 and over Rs 4,000 crore in FY2016 —as well as it had cooked up its balance sheet.
Rana Kapoor continued his rein till 2019, when he was shown the door, but by then, it was already too late

Meanwhile, the bank’s bad loans kept growing. Following the RBI’s asset quality review in 2019, its gross #NPA's surged 87% from a year ago, Its net NPAs more than doubled.
Read 9 tweets
#Moodys has pulled down its growth forecast for FY19 to 5.8%. Only surprise is why it’s not even lower. In the past year growth has collapsed from 8% to 5%. /1
@threadreaderapp

#India #CPI #GDP #RBI #bonds #inflation #ratecut #NBFC #jobs #credit #NPA #NCLT #growth
On the other hand #CPI is now at 4.6%. The laxmanrekha of 4% has been breached. A mix of drought, floods and unseasonal rain is driving food prices up. Core #inflation continues to fall to 3.7% reflecting the slowdown. /2
#India #GDP #RBI #bonds #ratecut #NBFC #jobs #credit #NPA
The wisemen and women of the economy have only one mantra - Cut, Pray, Hope. When in doubt cut rates.135 bps done but transmission is limited. We are told don’t look at nominal, real rates are still high. A single large cut is required. /3
#India #CPI #GDP #RBI #bonds #inflation
Read 16 tweets
#Thread on #NPAs. Stay with me.

RBI revealed this in an RTI: At the end of March 2018, a record high 7,990 borrowers of above Rs 5 crore had not repaid a whopping Rs 3.71 lakh crore to banks for 1-30 days after due date. That is a four-year high record of early defaulters! 1/n
2/n. These early defaults rose by a record 281.9 per cent over December 2017 when they stood at only Rs 972 billion . On a year-on-year basis, the rise is almost 228 per cent - the highest growth of early stage overdue repayments in 4 years.
3/n. More than 5,000 of these 7,990 were new and unique early defaulters of loans above Rs 5 crore. What does this number tell us? We have been told that all bad loans are of UPA era. This number tells us that Modi govt might be brewing its own banking crisis as well.
Read 9 tweets

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