Loan Defaults

Loan Defaults News

Govt may need to pump $20 bn into coronavirus-hit state banks; soured assets likely to double: Report
Business

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 futures jump in late trading following data on potential virus treatment, Trump guidelines
Business

US stock futures jump in late trading following data on potential virus treatment, Trump guidelines

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.

Sebi mulls tighter norms to ensure full disclosure on loan defaults with rating agencies
Business

Sebi mulls tighter norms to ensure full disclosure on loan defaults with rating agencies

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
Business

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
Business

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

Etihad, lenders hold discussion to facilitate emergency funding for debt-laden Jet Airways
Business

Etihad, lenders hold discussion to facilitate emergency funding for debt-laden Jet Airways

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.

Nitin Gadkari backs Vijay Mallya, says not fair to call him a thief for one loan default
India

Nitin Gadkari backs Vijay Mallya, says not fair to call him a thief for one loan default

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.

If the Income Tax Department can go to town, the RBI too could name and shame defaulters
Business

If the Income Tax Department can go to town, the RBI too could name and shame defaulters

Naming and shaming has greater justification in the context of loan defaults vis-à-vis income tax defaults.

Vijay Mallya $1.5 bn assets freeze order in UK courts until April 2018
Business

Vijay Mallya $1.5 bn assets freeze order in UK courts until April 2018

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

Vijay Mallya extradition: Team of CBI officers to attend trial in London court from Monday
Business

Vijay Mallya extradition: Team of CBI officers to attend trial in London court from Monday

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
Business

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

Banks express concern over stress, likely loan defaults in telecom sector
Business

Banks express concern over stress, likely loan defaults in telecom sector

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.

Vijay Mallya arrest: Bail is a temporary win, but tycoon can’t flash the victim card anymore
Business

Vijay Mallya arrest: Bail is a temporary win, but tycoon can’t flash the victim card anymore

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

Mallya may be facing heat over loan defaults, but still gets Rs 1.7 cr pay package from US firm
Business

Mallya may be facing heat over loan defaults, but still gets Rs 1.7 cr pay package from US firm

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

Get ready for more realty defaults: Property prices should come down soon
Business

Get ready for more realty defaults: Property prices should come down soon

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.