Page 26 - Banks

Banks explore option of invoking personal guarantee of promoters, says SC

Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday. According to an estimate, top 10 personal guarantors have guaranteed debt of over Rs 1.6 lakh crore. Among the big names, former promoters of Bhushan Steel and Power Sanjay Singhal and his wife Aarti Singhal had furnished personal guarantees worth up to Rs 24,550 crore to take loans from a consortium of bank led by State Bank of India (SBI). The former promoter of Reliance Communications, Anil Ambani, has also given personal guarantee against the loan taken. Erstwhile promoter Wadhawan stands guarantee to loans taken by DHFL, which is sitting on debt of about Rs 90,000 crore, while Dhoot has also given personal guarantee to a portion of Rs 22,000 crore loan to Videocon. The Supreme Court in May had held that the November 15, 2019 government notification allowing creditors, usually ...

Banks explore the option of invoking personal guarantee of promotion

Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday.

Former bank manager arrested for embezzlement of Rs 1.5 cr in Odisha

Former manager of a nationalised bank in Odisha's Kendrapara district was arrested for allegedly embezzling around Rs 1.5 crore, police said on Saturday.

Send bank staff in sensitive operations on leave without intimation: RBI

As a prudent risk management measure, banks should have a 'mandatory leave' policy with an element of surprise, apex bank says. The revised norms repeal the circular of April 23, 2015

Bankruptcy process needs a re-look

A mechanism is needed to ensure bank-led resolution- not the NCLT- is the first resort for lenders

Give necessary standing instructions for renewal of your FD, say analysts

Inform your heirs about deposits and whereabouts of related documents so that they can make a claim

Haircuts and settlements

Gaming the system leads to losses to lenders

As work from home deepens …

… are far-reaching social changes coming with it?

Alibaba founders pledge shares for loans from global banks: Report

Alibaba said co-founder Ma and his affiliates currently did not have any loans outstanding collateralized by the company's shares.

Indian banks will face heat of second Covid wave in H1 of FY22: S&P

Credit losses should remain high at 2.2 per cent before recovering to 1.8 per cent, says rating agency.

Banks so far lent 90% of Rs 3 trn under emergency credit scheme: Report

Banks have so far lent 90 per cent of the Rs 3 lakh crore under emergency credit line guarantee scheme announced last year to help small businesses tide over the pandemic

Private sector banks' share in loans rises to 36.5% in FY21

Surpass other bank groups in terms of loan growth

A $27 billion pile of stressed debt looms over India's new bad bank

The new institution, which is set to start operations by end of June, is likely to handle stressed debt worth $27 billionover time, which would be about a quarter of non-performing debt load

Best of BS Opinion: Shaping India's green future, the NPA scare & more

Here are the best of Business Standard's opinion pieces for Monday

A sharp turnaround

India Inc remains cautious after a robust Q4 performance

Panel meets to thrash out regulatory issues, speed up bank privatisation

A high-level panel headed by the cabinet secretary recently held a meeting to cut regulatory and administrative issues so that the proposal could be placed with the group of ministers on disinvestment

Tech, media, banks in HK fear end to business after Apple Daily closure

With closure of Apple Daily, businesses including tech, media and banks are in fear of the possible end of their businesses in the city as China tightens its grip on a city.

SBI, BoB: After stellar rally, can PSU banks still offer good returns?

If the stock of SBI fails to conquer the resistance of Rs 425-mark, some weakness is likely near the support of Rs 410 levels

Using digital currencies abroad hits logjam, but pandemic may have solution

Without coordination between companies and regulators, e-CNY, FedCoin, Britcoin will all remain trapped in silo.

Banks realised 40% loss in Mallya, PNB cases via sale of seized stock: ED

About 40% of the money lost by banks in the PNB scam and the fraud linked to Vijay Mallya's defunct Kingfisher Airlines has been realised by way of sale of shares seized under PMLA, the ED said