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Book Review | The Dirty Dozen: The Story Of India's 12 Biggest Corporate Defaulters
N. Sundaresha Subramanian chronicles the travails of the IBC in each of the 'Big Twelve' cases in finding the resolution. In some instances, the journey becomes more important than the destination.
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Top 50 Wilful Defaulters Owe Rs 92,570 Crore To Banks, Mehul Choksi Tops List
The gross non-performing assets (NPAs) of state-owned banks had dropped by over Rs 3 lakh crore after peaking at Rs 8.9 lakh crore.
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Cabinet Clears Government Guarantee Of Rs 30,600 Crore For Bad Bank
The Union Cabinet has approved Central Government guarantee of up to Rs 30,600 crores to National Asset Reconstruction Company Limited for five years.
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Banking Shares Slump On Fears Of Rise In Bad Loans As Covid Infections Surge
Rising coronavirus infections and lockdowns in parts of the country have stoked fears of rising bad loans in the coming days. analysts said.
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Nirmala Sitharaman's 13-Tweet Counter To Rahul Gandhi's 'RBI List' Attack
In a series of tweets late on Tuesday night, Finance Minister Nirmala Sitharaman rebutted Congress leader Rahul Gandhi on his allegations on "wilful defaulters, bad loans and write-offs", calling them an attempt to "mislead people in a brazen manner" and sensationalise facts.
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In Relief For Borrowers, RBI Eases Norms On Loan Defaults Amid Lockdown
The RBI had on March 27 introduced a 90-day moratorium on term loan repayments due between March 1 and May 31.
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Shadow Banking Crisis Raises Risk Of Indian Bad-Loan Redux
Loans from the shadow banking sector expanded rapidly in the period up to the IL&FS defaults, a time in which the regulated banks were in the depths of a bad-loan crisis, weighed down by some $200 billion of soured credit
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Yashovardhan Birla Declared Wilful Defaulter By UCO Bank
UCO Bank said the account was declared a non-performing asset (NPA) on June 3, 2019.
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RBI Ordered To Review Its Disclosure Policy On Banks Under RTI: 10 Things To Know
The Supreme Court last week gave the Reserve Bank of India "a last opportunity" to disclose details such as its list of wilful defaulters under Right to Information Act (RTI Act). The top court also directed the Reserve Bank of India to review its policy on disclosure of information relating to banks under RTI, saying "it is duty-bound under the la...
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IL&FS Crisis: Lenders Asked To Classify Loans To Firm As Non-Performing, Says Report
In October, the government took control of IL&FS, after a string of defaults on debt obligations by the infrastructure financing and construction company spooked domestic markets.
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"Fraud Unacceptable": Nitin Gadkari Clarifies On Vijay Mallya Comment
A day after kicking up a storm by pointing out the alleged unfairness of tagging fugitive businessman Vijay Mallya as a thief over a "one-time loan default", Union Minister Nitin Gadkari today chose to deflect criticism by accusing the media of taking his remarks out of context.
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Essar Steel Proposes Rs 54,389 Crore Settlement To Creditors
Essar Steel is among a dozen of the country's biggest debt defaulters that were pushed into the bankruptcy court last year after a central bank order that was aimed at clearing record bad loans at the country's banks.
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Arun Jaitley Asks State-Run Banks To Be Strict With Wilful Defaulters
"Banks must strive to be seen always as institutions of clean & prudent lending," the Finance Ministry said.
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Ahead Of RBI Deadline, Bankers Push To Resolve Rs 3.8 Trillion Bad Loans
With a six-month deadline set by Reserve Bank of India to finalise resolution plans for around 70 large stressed accounts worth over Rs 3.8 trillion ending tomorrow, banks are burning midnight oil to avoid bankruptcy proceedings against defaulters who are mostly power producers.
-
Infrastructure Lending May Take A Back Seat, Say Bankers
Owing to certain stringent criterion in the new framework, which includes one-day reporting of defaults, lenders have asked for some leniency but the RBI has not granted any relaxation to its February 12 circular.
-
Book Review | The Dirty Dozen: The Story Of India's 12 Biggest Corporate Defaulters
N. Sundaresha Subramanian chronicles the travails of the IBC in each of the 'Big Twelve' cases in finding the resolution. In some instances, the journey becomes more important than the destination.
-
Top 50 Wilful Defaulters Owe Rs 92,570 Crore To Banks, Mehul Choksi Tops List
The gross non-performing assets (NPAs) of state-owned banks had dropped by over Rs 3 lakh crore after peaking at Rs 8.9 lakh crore.
-
Cabinet Clears Government Guarantee Of Rs 30,600 Crore For Bad Bank
The Union Cabinet has approved Central Government guarantee of up to Rs 30,600 crores to National Asset Reconstruction Company Limited for five years.
-
Banking Shares Slump On Fears Of Rise In Bad Loans As Covid Infections Surge
Rising coronavirus infections and lockdowns in parts of the country have stoked fears of rising bad loans in the coming days. analysts said.
-
Nirmala Sitharaman's 13-Tweet Counter To Rahul Gandhi's 'RBI List' Attack
In a series of tweets late on Tuesday night, Finance Minister Nirmala Sitharaman rebutted Congress leader Rahul Gandhi on his allegations on "wilful defaulters, bad loans and write-offs", calling them an attempt to "mislead people in a brazen manner" and sensationalise facts.
-
In Relief For Borrowers, RBI Eases Norms On Loan Defaults Amid Lockdown
The RBI had on March 27 introduced a 90-day moratorium on term loan repayments due between March 1 and May 31.
-
Shadow Banking Crisis Raises Risk Of Indian Bad-Loan Redux
Loans from the shadow banking sector expanded rapidly in the period up to the IL&FS defaults, a time in which the regulated banks were in the depths of a bad-loan crisis, weighed down by some $200 billion of soured credit
-
Yashovardhan Birla Declared Wilful Defaulter By UCO Bank
UCO Bank said the account was declared a non-performing asset (NPA) on June 3, 2019.
-
RBI Ordered To Review Its Disclosure Policy On Banks Under RTI: 10 Things To Know
The Supreme Court last week gave the Reserve Bank of India "a last opportunity" to disclose details such as its list of wilful defaulters under Right to Information Act (RTI Act). The top court also directed the Reserve Bank of India to review its policy on disclosure of information relating to banks under RTI, saying "it is duty-bound under the la...
-
IL&FS Crisis: Lenders Asked To Classify Loans To Firm As Non-Performing, Says Report
In October, the government took control of IL&FS, after a string of defaults on debt obligations by the infrastructure financing and construction company spooked domestic markets.
-
"Fraud Unacceptable": Nitin Gadkari Clarifies On Vijay Mallya Comment
A day after kicking up a storm by pointing out the alleged unfairness of tagging fugitive businessman Vijay Mallya as a thief over a "one-time loan default", Union Minister Nitin Gadkari today chose to deflect criticism by accusing the media of taking his remarks out of context.
-
Essar Steel Proposes Rs 54,389 Crore Settlement To Creditors
Essar Steel is among a dozen of the country's biggest debt defaulters that were pushed into the bankruptcy court last year after a central bank order that was aimed at clearing record bad loans at the country's banks.
-
Arun Jaitley Asks State-Run Banks To Be Strict With Wilful Defaulters
"Banks must strive to be seen always as institutions of clean & prudent lending," the Finance Ministry said.
-
Ahead Of RBI Deadline, Bankers Push To Resolve Rs 3.8 Trillion Bad Loans
With a six-month deadline set by Reserve Bank of India to finalise resolution plans for around 70 large stressed accounts worth over Rs 3.8 trillion ending tomorrow, banks are burning midnight oil to avoid bankruptcy proceedings against defaulters who are mostly power producers.
-
Infrastructure Lending May Take A Back Seat, Say Bankers
Owing to certain stringent criterion in the new framework, which includes one-day reporting of defaults, lenders have asked for some leniency but the RBI has not granted any relaxation to its February 12 circular.
