SEBI comes out with operational framework for transactions in defaulted debt securities, to be implemented from 1 July onwards
Markets regulator SEBI allowed transactions in defaulted debt securities and put in place operational framework for such transactions
Coronavirus Outbreak: Unemployment rate in Asia-Pacific may rise over 3 percentage points; household income to fall
S&P Global ratings chief economist (Asia Pacific) Shaun Roache said the rise in unemployment could be larger now than in previous cycles because the downturn is much larger.
Realty players fear pay cuts, job losses as lockdown hits revenue; say govt's relief package for sector to minimise damage
Realty sector is the second-largest employer after agriculture and provides for both blue and white collar jobs, said CREDAI (national) chairman Jaxay Shah said.
IMF urges India to strengthen ability of banks to go after debtors, warns that debts negatively impact investments
"The corporate debt overhang and associated banking sector credit quality concerns exert a drag on investment in India," the IMF's World Economic Outlook report released on Tuesday said.
Essar group has been selling off assets to pare its high debt, which has seen it exiting the oil business and also sell realty holdings, apart from Aegis, the BPO arm
In its economic survey released on 31 January, the finance ministry suggested setting up a bad bank that it said could be used to buy bad loans from the banks and deal with them through methods including conversion of debt to equity.
Central bank Governor Raghuram Rajan last year warned banks against creating a liquidity squeeze at the year-end by ceasing to lend to each other "to build a certain kind of balance sheet".
"Staff are looking at further options to provide support to the Ebola-hit countries, through reform of an existing facility," an IMF spokesman told AFP.
In order to force defaulters repay, banks are planning to resort to a name-and-shame policy. They would publish wilful borrowers' photographs, names, addresses and other details in newspapers.