The classification of the stressed assets into three categories seems a better system for a swift resolution of bad loans
There is no clarity on to how and why this will be different from the futile efforts of the last four decades in handling bad loans by government banks
Is satisfied with resolution process under IBC, says govt plans to revive Visvesvaraya Iron & Steel, take on business development for KIOCL
Nineteen out of 21 PSBs had reported net losses and a sharp rise in bad loans in 2017-18
If we extrapolate the successes of a few trophy assets in steel, we will miss the fact that there are three possible outcomes of the IBC, of which the first and third are outliers
Government policy had created the space for domestic investments to rise in the current financial year, he added
Passport details in at the digital warehouse will help authorities to take timely action and check fraudsters from fleeing the country
On the online lending to MSMEs, the minister said a trial run conducted for Prime Minister's Employment Guarantee Programme was successful
Banks are saddled with over Rs 10 trillion of bad loans in the system
Will the ministry of corporate affairs consider invoking the provisions of Section 396 of the Companies Act, 1956 to make recoveries for bank loan defaults?
Write-offs by commercial banks reach Rs 65,800 crore in first half of FY18
The country's new insolvency code that took effect in 2016, will help open the market for soured loans
The bank posted a net loss for the June quarter, with net NPA rising to 9.56%
IBC is expected to have a significant impact on the conduct of business in the country
Capital market regulator Sebi on Friday made it compulsory for listed companies to make a disclosure to stock exchanges if they default on interest or principal payment obligations to banks. The move is aimed at keeping maintaining transparency and keeping investors informed.At present, under the Sebi's Listing Obligations and Disclosure Requirements (LODR), companies have to make specific disclosures if there is a delay or default in payment of interest or principal on debt securities, such as non-convertible debentures, listed non-convertible redeemable preference shares, foreign currency convertible bonds (FCCBs).However, there is no stipulation on companies to make disclosures with regards to loans taken from banks and financial institutions. This is despite most of companies relying on bank loans.Sebi said companies will now have to make disclosures with pertaining to defaults on debt securities such as commercial paper, medium term notes (MTNs), bank loans and external ...
Mostly, companies themselves have filed petitions to restructure themselves
Directive follows an RBI circular that asked banks to disclose divergence in asset classification
Alibaba-owned site offers customers in China distressed debt at hefty prices
In mid-June, the RBI wanted 12 select cases of bad loans be fast-tracked at NCLT
The RBI identified 12 biggest defaulters to initiate bankruptcy proceedings on Tuesday