No bank has the power to employ bouncers for forceful recovery of loans from customers, Union Minister of State for Finance Anurag Thakur said in the Lok Sabha on Monday
The appellate tribunal has asked all parties including lenders to file their written submissions before it.
Public sector banks recover bad loans worth Rs 2.33 lakh cr in 4 years to FY18, says union minister Shiv Pratap Shukla
As per RBI data on global operations for PSBs, during the financial years 2014-15 to 2017-18, PSBs recovered Rs 2,33,339 crore, of which Rs 32,693 crore was from written-off accounts, Minister of State for Finance Shiv Pratap Shukla said in a written reply in Lok Sabha.
Rajnish Kumar said Mallya's extradition will have a deep impact on the overall lender and borrower relationship.
NPA crisis: Loans worth Rs 2.72 lakh cr written-off since NDA government took over in 2014; just Rs 29,000 cr recovered
The problem is that there aren’t enough buyers for stressed assets in India, at prices the banks expect, needed to compensate for their losses.
Public sector banks write off Rs 55,356 cr loans in April-Sep as they speed up loan recovery process
Over the past decade, PSU banks had written off Rs 2,28,253 crore in nine years
The need for individual bankruptcy law is all the more urgent today given the precarious jobs situation in many sectors
SBI finally tags Vijay Mallya ‘wilful defaulter’, others still dragging feet. We need special courts to fix crony promoters
Till the time an effective judicial platform is set up to handle such cases, even the wilful defaulter tag is nothing more than a child's toy
Jaitley should hurry on legislating a bankruptcy law; it is critical for the recovery of bank loans in many similar cases
Manju Bhatia, Joint Managing Director of Vasuli Recoveries, talks about setting up an all-women team of recovery agents who extract money the humane way.
What about loan recovery from those other than Kingfisher?, wondered its promoter Vijay Mallya while taking a dig at bank chiefs in his tweet for their "constant speak" to media on getting back dues from the grounded airline.
You may not be an economist or an analyst, and may be least interested in investing in shares, but the rising instances of abuse by bank agents calls for some awareness