Some cases understood to be under consideration for transfer to the NARCL list are already undergoing insolvency proceedings such as Amtek Auto, Castex Technologies, JP Infra, Videocon Oil Ventures and Lavasa Corporation.
“The purpose of the circular is to prevent siphoning off funds given by banks. In the case of the government, that can hardly be considered a risk. That is why we have asked for an exemption,” the banker said.
Last month, State Bank of India (SBI) chairman Dinesh Khara said sanctioned limits are still under-utilised to the extent of 25%. Similarly, banks with a significant presence in corporate lending, such as Bank of Baroda (BoB)
A similar trend of auction notices had been observed in the January-March quarter with respect to gold loans. Thereafter, most lenders with a sizeable gold loan portfolio reported a deterioration in asset quality in that segm
Both strategies are aimed at analysing behavioural trends among the younger segment of the population, many of whom have been introduced to deferred payments through the BNPL route. Most of them do not have a credit card or a
Lenders have now begun to team up with fintech players and payment gateway companies to digitise some aspects of the collection process. The aim here is to ensure repayments are not hurt even when group meetings cannot be hel
In a report dated August 16, Nomura said that its India business resumption index (NIBRI) took less than three months to cross 100 after the second wave, whereas it had taken nearly 10 months to crawl back towards the 100-mar
Bidders must have global experience in the distressed assets space, and a track record of turning around or resolving non-performing assets (NPAs), apart from satisfying the central bank’s ‘fit and proper’ criteria.
The circular mandated each bank to close current accounts of borrowers to whom the bank’s exposure was less than 10% of its total borrowings. The deadline for complying with the circular, which was aimed at preventing fraud
The Union government had budgeted a total Rs 1 lakh crore worth of earnings by way of total dividend from RBI and public-sector enterprises in FY22. The quantum of the RBI’s surplus transfer will likely ensure that the gove
There is a lockdown-like situation in 20-odd cities of the country. Obviously, mobility is affected as are many businesses. The full impact of this on all players will show up only in the next one or two quarters.
Individuals and small businesses with loans of up to Rs 25 crore who have never undergone restructuring before and who were classified as standard as on March 31, 2021, shall be eligible under the new scheme, titled resolutio
At the moment our cost of funds is between 6 and 6.5% and we expect it to fall as more CASA (current account savings account) becomes available to the bank in terms of government and institutional deposits.