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PSBs look to frame common rules to value stressed assets

PSBs look to frame common rules to value stressed assets

Finance
NEW DELHI: The finance ministry is working with state-run lenders to frame a common set of rules for valuation of stressed assets for faster resolution of loans extended by consortia of banks. A senior finance ministry official said a select group of bankers is working to arrive at common rules of valuation. “It has been observed that in cases of joint lending, banks are unable to arrive at a common valuation, which stalls the resolution process. Further, individually, banks also fear that if they agree to a certain haircut, it may not stand the scrutiny of vigilance agencies,” the official said, adding that new norms will address such concerns. The group was formed during ‘PSB Manthan,’ a two-day conclave of PSBs and has representation from all leading banks. A bank executive who is p
How to Foil 5 Common Bank Fees From Draining Your Funds

How to Foil 5 Common Bank Fees From Draining Your Funds

Finance
Shutterstock photoSavings and checking account fees - sometimes tucked away in the depths of a website's fine print - often crop up on our bank statements when we least expect them. But leave them unchecked and they can cost you several hundred dollars a year in extreme cases.Knowing how and when banks or credit unions can charge fees is the first step to avoiding them. Here are five of the most common bank fees that can drain your funds:1. Minimum balance or monthly feesMany financial institutions charge for simply maintaining an open checking or savings account. The good news is that most accounts provide a way to avoid the charge if you meet specific criteria, such as linking direct deposits or maintaining a balance over a certain dollar amount.But even tha...
What do Danny DeVito and Arnold Schwarzenegger have in common? They are part of 'gray divorce' trend

What do Danny DeVito and Arnold Schwarzenegger have in common? They are part of 'gray divorce' trend

Finance
What do Danny DeVito, Arnold Schwarzenegger and Al Gore have in common? They were all part of an increasing trend called the "gray divorce." Gray divorce is a term for what happens after 20-plus years of marriage to unhappily wed people in their 50s or older.Among U.S. adults ages 50 and up, the divorce rate has roughly doubled since the 1990s. In 2015, for every 1,000 married persons in that age category, 10 divorced — up from five in 1990, according to data from the National Center for Health Statistics and the U.S. Census Bureau. Among those ages 65 and older, the divorce rate has roughly tripled since 1990, reaching six people per 1,000 married persons in 2015.Of course, when it comes to retirement, whatever money the divorcing couple has needs to be divided — often after an expensive