“The rise in NPAs is also because of a consistent decline in the loan portfolio especially the wholesale book since FY19,” the rating agency noted. “Stage 3 asset proportion is higher for the wholesale book (15.9%) than for the retail book (3.8%) in 1QFY22.”
The Securities Appellate Tribunal on Monday gave a split verdict on PNB Housing Finance’s petition, which challenged the market regulator’s stay on the mortgage lender’s proposal for a preferential issue of shares to private equity funds.
"We expect to manage these better from this month onwards even as we have managed to pull back some NPAs. We have pulled back about Rs 80 crore of NPA in July itself," said Hardayal Prasad, managing director and CEO, PNB Housing Finance
Among various passed resolutions were re-appointments of independent directors (IDs) Chandrasekaran Ramakrishnan and Nilesh S Vikamsey whose re-induction was red flagged by a proxy advisory firm earlier this month
While PNB Housing said it was not giving away control to Carlyle, SES rubbished the claim saying that the fact that PNB has not cededed control is technically incorrect.