Rs 100-crore realty loan may have cost UBI chief Archana Bhargava her job

Archana Bhargava may have had to quit unexpectedly last week as chairperson of United Bank of India because of a Rs 100-crore loan to a real estate developer despite opposition within the board, two officials told ET.In late 2013, 10 general managers of the Kolkata-based bank had complained to both to RBI and the finance ministry that Bhargava had okayed the loan by overriding the board's dissent. The Reserve Bank of India has placed curbs on the bank giving loans of more than Rs10 crore to a single account due to its mountain of bad debt....

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Nabard chief rules out NPA bubble in regional rural banks

In spite of slackening growth and upcoming elections, Nabard said the regional rural banks (RRBs) will be able to maintain their gross non-performing assets this fiscal at the last year level of 6 per cent and will improve it to 5 per cent by the end of June."We think all the 57 RRBs as a whole will have gross NPAs of 6 per cent, the same as that on March 2013. We have also set them targets to improve it to 5 per cent in the next three-four months," Nabard Chairman H K Bhanwala told reporters here after a meeting on RRBs.Nabard or the National...

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United Bank’s woes increase as its Delhi branch sanctioned Rs 800 cr loans without verifying collaterals

United Bank of India, stricken by bad debt, may be bracing for worse as the state-owned lender is looking into the possibility of Rs 800 crore having been disbursed at one of its branches in New Delhi without making sure of collateral, according to two bank officials who didn't want to be named. The latest development comes after chairperson and managing director Archana Bhargava quit last week for health reasons, as the government got down to preparing an urgent revival plan for the lender.The bank had sent ateam of investigators from its...

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