Loan Defaults News
Govt may need to pump $20 bn into coronavirus-hit state banks; soured assets likely to double: Report
The government has already pumped in Rs 3.5 lakh crore to shore up state-owned banks in the last five years.
US stock index futures jumped in late trading on Thursday after a report of promising early data related to a potential COVID-19 treatment from Gilead Sciences and as guidelines for re-opening the US economy came from the White House.
HDIL promoters Wadhawans write to RBI, investigating agencies to sell their attached assets to repay PMC Bank loans
The letter was released by a spokesperson of the Wadhawans.
Credit rating agencies have come under the scanner for failing to flag potential credit risks of the securities and entities rated by them
Supreme Court squashes RBI's NPA circular: Rating agencies say negative for banks, to delay debt resolution process
Supreme Court quashed the RBI circular of 12 February, 2018 dealing with loan defaults by making it mandatory on banks to recognize even a day's default
Supreme Court upholds IBC in its 'entirety', refuses pleas to allow operational creditors' parity with financial creditors
The apex court, while dismissing a batch of petitions challenging the IBC, refused pleas to allow operational creditors' parity with financial creditors
Naresh Goyal-promoted Jet Airways has been looking for funds for the past few months to keep it afloat amid rising debt and loan defaults besides non-payment of salary to its employees.
Union Minister Nitin Gadkari on Thursday suggested that it is unfair to tag a "one-time loan defaulter Vijay Mallyaji" as a "chor" (thief), adding that the embattled businessman has a four-decade-long track record of timely debt servicing.
Naming and shaming has greater justification in the context of loan defaults vis-à-vis income tax defaults.
Vijay Mallya, who is undergoing an extradition trial in a UK court over Rs 9,000-crore fraud and money laundering charges, will face next year a parallel litigation brought by 13 Indian banks to freeze nearly $1.5 billion of his assets
A team of CBI officers will attend the extradition trial of industrialist Vijay Mallya, who is facing a probe by the agency into alleged loan defaults of over Rs 9,000 crore
Narendra Modi's Gujarat speech: If bank nationalisation was Indira’s drama, he has a chance to undo it
Narendra Modi's claim on bank nationalisation is not entirely correct. It has indeed helped improve access to formal banking to the poor in far flung areas
The IMG met officials from four leading banks -- State Bank of India, Punjab National Bank, Axis Bank and HDFC Bank on financial difficulties being faced by the telecom industry, whose debt burden stand at a whopping Rs 4.6 lakh crore.
The core of Mallya’s arguments against banks and investigators has been that he hasn’t borrowed the money personally, but his airline did, hence the default cannot be his personal responsibility
More than half of Mallya’s total package for 2015 has been paid by California-based Mendocino Brewing Company Inc to him for “promoting” the company’s beer brands
It is just the unexplained and continuous increase in the price of land that is allowing realtors in Mumbai and the NCR to survive for nether sale of apartments or rentals will keep them afloat in the current gloom and doom.