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RBI relaxes stressed asset norms for lenders; directs banks to review borrower's accounts within 30 days of default
Business

RBI relaxes stressed asset norms for lenders; directs banks to review borrower's accounts within 30 days of default

In Friday's circular, the RBI said lenders should work on a resolution plan based on the financial health of borrowers even before a default.

IL&FS to sell stake in education, wealth management arms; firm's financial services subsidiary defaults term loan of Rs 100 cr
Business

IL&FS to sell stake in education, wealth management arms; firm's financial services subsidiary defaults term loan of Rs 100 cr

The crippled infra lender is selling the group's stake in IL&FS Education & Technology Services (IETS), along with other subsidiary businesses and IIML along with all its associated fund management platforms.

Crisil retains rating on Rs 15,000-cr commercial paper of Dewan Housing Finance
Business

Crisil retains rating on Rs 15,000-cr commercial paper of Dewan Housing Finance

Crisil on Friday retained A1+ rating on Rs 15,000 crore commercial paper (CP) programme of DHFL, whose stocks have been under pressure due to concerns over default

Bank bad loans: Defaulters owe 27% of total amount to SBI alone, Punjab National Bank next
Business

Bank bad loans: Defaulters owe 27% of total amount to SBI alone, Punjab National Bank next

The total outstanding loans by wilful defaulters rose to Rs 92,376 crore at the end of financial year 2016-17, from Rs 76,685 crore at the end of last fiscal 2015-16 -- up 20.4 percent.

Kingfisher loan default: Vijay Mallya can't accuse banks for holding him 'personally responsible'
Business

Kingfisher loan default: Vijay Mallya can't accuse banks for holding him 'personally responsible'

Mallya continues to refute every single charge raised against him by Indian government and is determined to put up a strong fight against any attempts to get him back to India and try under Indian laws

No honourable exit for Vijay Mallya? RS Chairman rejects resignation
Politics

No honourable exit for Vijay Mallya? RS Chairman rejects resignation

Liquor baron Vijay Mallya sent a resignation letter to the Rajya Sabha, however, Chairman of the Upper House, Hamid Ansari rejected the resignation letter

Greece ready to call off referendum, Eurozone finmins to evaluate new proposals
World

Greece ready to call off referendum, Eurozone finmins to evaluate new proposals

Greece leaders pushing new terms for a possible third bailout

Greece exit won't be comparable to 2008 collapse: Here's how crisis may unfold
Business

Greece exit won't be comparable to 2008 collapse: Here's how crisis may unfold

Between now and 5 July, Greece remains suspended between collapse and an uncertain rescue

Debt Crisis: Greece seeks six-month loan extension from European Union
World

Debt Crisis: Greece seeks six-month loan extension from European Union

Greece has formally asked the EU for a six-month loan extension, officials in Athens and Brussels said, hoping to avoid default and draft a new deal with its creditors. Greece has formally asked the EU for a six-month loan extension, officials in Athens and Brussels said, hoping to avoid default and draft a new deal with its creditors.

RBI tightens lending norms for 'non-cooperative' borrowers
Economy

RBI tightens lending norms for 'non-cooperative' borrowers

Those having ability to pay but still defaulting and thwarting lenders efforts for recovery of their dues by hiding information would be classified as non-cooperative borrowers, RBI said today.

Sebi exercises new power, sends defaulter to prison for six months
Corporate

Sebi exercises new power, sends defaulter to prison for six months

Exercising its new powers to order imprisonment of defaulters, regulator Sebi today sent a Thane resident to civil prison for six months after he failed to pay over Rs 1.64 crore of penalty imposed for indulging in fraudulent activities.

RBI permits flexible refinancing of existing infra projects
Economy

RBI permits flexible refinancing of existing infra projects

The RBI has allowed banks to refinance existing long-gestation projects in the infrastructure segment under flexible conditions, including that of core sector projects, to offer more flexibility to fund such projects.

Sebi attaches assets worth Rs 2.5 cr of 15 entities in Pyramid Saimira case
Corporate

Sebi attaches assets worth Rs 2.5 cr of 15 entities in Pyramid Saimira case

Capital market regulator Sebi has ordered attachment of bank and demat security accounts of 15 entities, including former top executive of Pyramid Saimira, to recover dues worth about Rs 2.50 crore.

It's time India Inc stops blaming Rajan and RBI for everything
Economy

It's time India Inc stops blaming Rajan and RBI for everything

RBI should not be blamed for everything that goes wrong with the economy

Diageo shows Mallya who is boss at United Spirits: Raises default issue, curbs his powers
Corporate

Diageo shows Mallya who is boss at United Spirits: Raises default issue, curbs his powers

Following a reduction in its shareholding in USL, United Breweries (Holdings) Ltd, is no longer entitled to recommend an independent director

Bad news for auto makers: 100 customer complaints could force a model recall
Corporate

Bad news for auto makers: 100 customer complaints could force a model recall

Vehicle recall refers to the term where all vehicles sold by the original equipment manufacturer (OEM) that are found to contain a defect and the manufacturer offers to correct that defect without charging the customer.

Bad news for auto makers: 100 customer complaints could force a model recall
Corporate

Bad news for auto makers: 100 customer complaints could force a model recall

Vehicle recall refers to the term where all vehicles sold by the original equipment manufacturer (OEM) that are found to contain a defect and the manufacturer offers to correct that defect without charging the customer.

Potential downgrade? Protests in Pakistan threaten promises made to IMF
International

Potential downgrade? Protests in Pakistan threaten promises made to IMF

The International Monetary Fund (IMF) saved Pakistan from possible default last September by agreeing to lend $6.6 billion over three years

Get this: LIC is likely to declare realty major Unitech as a defaulter
Business

Get this: LIC is likely to declare realty major Unitech as a defaulter

Life Insurance Corporation is likely to declare debt-ridden real estate company Unitech as a defaulter after two previous rounds of restructuring.<br /><br />

BCCI terminates Pune Warriors from IPL over default in payments
Sports

BCCI terminates Pune Warriors from IPL over default in payments

The decision was taken at the Cricket Board's all-powerful working committee meeting here.