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The Insolvency and Bankruptcy Code, 2016—- A Primer

The presence of multiple laws, forums and complexities resulted in delays in the timely resolution of the distressed entities and eventually resulting in deterioration of assets and their realizable value. The IBC 2016 laid down a collective mechanism for resolution of insolvencies in the country in a time bound manner and to preserve the economic value of assets of corporate persons, partnership firms and individuals and to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders

SBI gets a ₹11,932 crore bad loans jolt from RBI

SBI reported a net profit of ₹3,011.73 crore in Q2 FY20. SBI gets a ₹11,932 crore bad loans jolt from RBI. Regulator finds that the lender under-reported its NPA numbers for FY19. Others including Union Bank, UCO, Lakshmi Vilas and Yes Bank have also reported a divergence in NPA numbers for FY19

PNB plans aggressive recoveries to contain gross NPA below 12%

PNB plans aggressive recoveries to contain gross NPA below 12%.The bank is planning to sell non-core assets, which include its erstwhile headquarters at the Bhikaji Cama Place in south Delhi.

More steps in the offing for timely fraud detection in banks: RBI

There is a need for timely recognition and reporting to reduce their economic costs and to address the vulnerabilities in a proactive and timely manner, RBI said in its Financial Stability Report.

Govt mulling national institute for valuers

Corporate Affairs Ministry will begin work on a Bill on valuation professionals and also pave the way for a national Institute on valuation.

Prudential Framework for Resolution of Stressed Assets

Reserve Bank of India has issued a new framework on 7th June 2019 for resolution of bad loans, replacing the previous norms quashed by the Supreme Court in April, offering a 30-day gap for stress recognition instead of the one-day default earlier. The apex court had on April 2 struck down the stringent RBI circular, issued…

Some banks make record provisions against bad loans

PCR is the ratio of provisioning to gross non-performing assets and indicates the extent of funds a bank has kept aside to cover loan losses. Some banks make record provisions against bad loans.Banks clean up books as NPA additions slow over the past year.

RBI to hold ‘structured meetings’ with bank auditors to deal with divergences

On May 1 We have posted an article “RBI cracks the whip on auditors, wants them to keep eye on five key areas” wherein its was mentioned that The Reserve Bank of India (RBI) has asked bank auditors to keep a close watch on five key parameters and is to reassign its senior supervisory authority…

Loan defaulters have no right to be represented by lawyer in ‘in-house’ proceedings of banks: SC

The lending bank had contended that the defaulting borrower does not need the assistance of lawyers in the proceedings as no complex legal questions are decided in declaring a person a willful defaulter.The Supreme Court has held that a person has no “right” to be represented by a lawyer in “in-house” proceedings initiated by banks or financial institutions to declare him willful defaulters for non-payment of dues.

Haircut in Loan Recovery

WHAT IS HAIRCUT IN LOAN RECOVERY ? 1. In banking, haircut means the difference between the actual dues form a borrower, and the amount he settles with the bank. 2. When there is no hope of loan recovery, bank will write-off it as one time settlement. It is better to recover something rather than losing…

Tag: NPA

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Key takeaways from the Union Budget Financial Year 2024-25

Nirmala Sitharaman Budget Speech LIVE -Union Budget 2024

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Key takeaways from the Union Budget Financial Year 2024-25

Nirmala Sitharaman Budget Speech LIVE -Union Budget 2024