The new trigger for Bank Nifty on 14th Feb.

Last week, State Bank of India reported a divergence in classification of NPAs as compared to RBI’s assessment of NPAs to the tune of Rs 23,240 crore. On Monday, Bank of India reported such divergence of Rs 14,000 crore.

RBI in its financial stability report has pointed out the risks of the gross NPA ratio of the banking sector to increase to 10.8 percent by March 2018 from 9.6 percent in March 2017.
Total bad loans or gross NPAs in the banking system are estimated at over Rs 8.5 lakh crore.

Previous resolution mechanisms such as Corporate Debt Restructuring, Strategic Debt Restructuring Scheme (SDR) and Scheme for Sustainable Structuring of Stressed Assets (S4A), that were set up over the past years, have been withdrawn.  All accounts yet to be implemented under these schemes shall be governed by the revised framework.

Instead, a new framework, in effect from March 1, has been introduced.

The Reserve Bank of India has directed banks to ensure a resolution plan (RP) is in place within 180 days of a ‘default’ of accounts, with exposure of Rs 2,000 crore or more.

 While this may  strain their balance sheets now, in the long term, the measure will help banks avoid a pile of NPAs, which has been the case so far.

 This is going to tempt a negative or positive trigger to the market tomorrow and it will also create a progressive impulse on
Bank Nifty futres and Bank Nifty Options tomorrow.

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