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Explained: How past US debt ceiling crises affected the economy and politics

Failing to lift the debt ceiling has catastrophic effects for the US and the world. It could bring down the entire international financial system. This in turn could devastate the world gross domestic product and create mass unemployment

Why US debt default could cause catastrophic damage to the dollar and its reputation

In August 2021, the mere prospect of a potential default led to an unprecedented downgrade of the nation’s credit rating, hurting America’s financial prestige as well as countless individuals, including retirees. An actual default would be far more damaging

'Kumbaya moment or economic chaos?' How the US debt limit standoff might end

House Speaker Kevin McCarthy said the US would not default. But he is still linking that issue directly to spending cuts in a way that Joe Biden wants to avoid. His debt limit bill would reverse discretionary spending to 2022 levels, then place a one per cent cap on increases going forward

The US has reached its debt limit: What does this mean and what comes next?

The debt limit is a legally established maximum on how much the United States can borrow to pay its bills, exceeding which would result in an unprecedented government default

Credit rating agency S&P's downgrade indicates Russia headed for historic default

While Russia has signaled that it remains willing to pay its debts, the Kremlin also has warned that it would do so in rubles if its overseas accounts in foreign currencies remain frozen

China property sector distress deepens as second company runs into financial troubles

Fantasia Holdings missed the deadline to repay a $205.7 million loan

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

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

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

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.