Loan Default Case

The Indian central bank's discussion paper suggesting banks make provisions on bad loans using an expected credit loss (ECL) method could raise capital requirements for lenders, analysts said

The State Bank of India-led consortium that lent loans to fugitive businessman Vijay Mallya on Friday received Rs 792.11 crore in its accounts after some shares, earlier attached under the anti-money laundering law, were sold, the Enforcement Directorate said.

The survey comes months after official data showed that unemployment is at a four-decade high, the pace of economic growth slipping to a six-year low

Amount outstanding is up by over a tenth in a quarter

At present, banks do not share with CRAs details of a company's existing and future borrowing

The Central Bureau of Investigation (CBI) on Sunday registered a case on a complaint from Oriental Bank of Commerce (OBC) against a private sugar company based at Simbhaoli in Hapur district of Uttar Pradesh for defaulting loan.The case is registered against the chief managing director (CMD) of the company and others including directors, chief executive Officer (CEO), chief financial Officer (CFO) and unknown bank officials and other private persons, u/s 120-B r/w sec. 420 & 409 of the Indian Penal Code (IPC) and Sec. 13(2) r/w 13(1)(d) of the Prevention of Corruption Act, 1988 for causing a loss of Rs.109.08 crore (approximately) to the bank.It was alleged that the Oriental Bank of Commerce had sanctioned a loan amounting to Rs.148.60 crore in 2011 to the said private company.The loan was sanctioned for financing individual / joint liability groups (JLG) / self help groups (SLG) / sugarcane farmers in a tie-up arrangement under the Reserve Bank of India (RBI) scheme to 5,762 ...

In July, the regulator had asked listed banks to make disclosures if provisioning and NPAs assessed by the RBI exceeded 15 per cent of published financials

There are about 7,686 wilful defaulters who owe Rs 66,190 crore to public sector banks. Of these, suits have been filed in 6,816 cases and FIR has been lodged 1,669 cases

ED has asked over 6 officials of IDBI, KFA to submit details about their personal finance, IT returns of last 5 years