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India Ratings projects economic growth at 7.1% next fiscal
Thu, Jan 18, 2018
India Ratings and Research today projected the country's economic growth to improve to 7.1 per cent next fiscal from 6.5 per cent this year, buoyed by robust consumption demand and low commodity prices.
Lok Sabha passes amendment in Bankruptcy code
Sat, Dec 30, 2017
IBC was introduced in 2016, with an aim to find a time-bound resolution on companies that have become insolvent and to protect the interest of creditors.
Turnaround saga of Bengal Chemicals and Pharmaceuticals, HSCL
Mon, Dec 25, 2017
Bengal Chemicals made profits after 63 years in FY17, while NBCC expects minimum 12-15% topline growth in next 2-3 years for HSCL
NPA issue: Can IBC help govt, RBI to deal with the problem?
Fri, Dec 22, 2017
RBI is also identifying wilful defaulters for IBC resolution under the National Company Law Tribunal (NCLT). So far, it has identified 40 wilful defaulters of banks in two lists.
Insolvency law panel seeks suggestions from stakeholders
Thu, Dec 14, 2017
A large number of cases have been filed under the Insolvency and Bankruptcy Code (IBC) which became operational in December 2016. The law provides for a market-determined and time-bound insolvency resolution process.
India growth to normalise in next four to six quarters, says Standard Chartered
Thu, Dec 14, 2017
The report said that economic growth has bottomed out after slowing to a 13-quarter low of 5.7% in April-June 2017, but predicted growth recovering further to 7% over the next few quarters (6.3% in July-September 2017), supported by several factors.
Govt has not waived any loans of corporates, says FM Jaitley
Tue, Nov 28, 2017
Jaitley said that over the last few days, a rumour is being propagated regarding waiver of loans of capitalists by banks. Time has come for the nation to be apprised of facts in this regard.
Second list of defaulters out; RBI hope lenders file for IBC on their own without regulatory directions
Fri, Sep 08, 2017
Acharya said, " The Reserve Bank has now advised banks to resolve some of the other accounts by December 2017; if banks fail to put in place a viable resolution plan within the timelines, these cases also will be referred for resolution under the IBC."
Bankruptcy code can help deepen bond markets: Ajay Tyagi
Sat, Aug 19, 2017
The bankruptcy law was enacted to ensure time-bound settlement of insolvency and enable ease of doing business as the bad loans in the banking system has touched the roof.
NPA resolution not to liquidate cos, but to help save them: FM Jaitley
Sat, Aug 19, 2017
Gross NPAs have crossed 9.6 per cent as of March 2017, while the stressed loans ratio is over 12 per cent.
NPA resolution to spur credit expansion, growth: Panagariya
Sun, Aug 13, 2017
Terming the non-performing assets (NPAs) or bad loans problem as a 'legacy issue', Arvind Panagariya said that even after three years of the NDA government taking charge, it has not gone away.
Now individuals can also seek NCLT help to recover dues
Mon, Jul 24, 2017
The Chennai bench of NCLT has admitted the application filed by the employees after the hotel failed to pay arrears of salary, gratuity and leave salary.
Indian banks face $37 billion hit from top 50 stressed assets: CRISIL
Wed, Jul 19, 2017
Indian banks may have to write off 60 percent of the value of bad loans from their 50 large stressed asset accounts, or a hit of 2.4 trillion rupees ($37.31 billion), ratings agency CRISIL said on Wednesday.
Sebi asks banks to disclose divergence in asset classification
Tue, Jul 18, 2017
Giving another helping hand to RBI, market watchdog Sebi has asked banks to disclose divergence in asset classification to the stock exchanges in their financial audits.
Q1FY18 results for the banking sector don't look too upbeat
Mon, Jul 10, 2017
Looks like India's banking universe especially PSBs will continue to suffer with subdued earnings in Q1FY18.
Bhushan Steel fourth-quarter loss bigger than stated earlier
Thu, Jul 06, 2017
Bhushan Steel Ltd reported a March-quarter loss that was much bigger than stated earlier in its unaudited results, as the debt-laden steelmaker was hurt by higher costs.
More companies expected to follow Essar Steel's footsteps; what does this mean for loan resolution?
Wed, Jul 05, 2017
According to the norms, once the case is with the NCLT, the lenders or the banks need to set up a committee of creditors that will come up with a plan on how the asset will be tackled.
Axis Bank says 80% bad loans secured; shares gain
Thu, Jun 29, 2017
After RBI identified 12 accounts, Axis Bank said their exposure was in 8 accounts and 80% of the outstanding loan was secured.
These two companies stand to gain immensely if India goes ahead with steel sector bankruptcies
Mon, Jun 26, 2017
RBI said, "The Internal Advisory Committee (IAC) recommended for IBC reference all accounts with fund and non-fund based outstanding amount greater than Rs 5000 crore, with 60% or more classified as non-performing by banks as of March 31, 2016. The IAC noted that under the recommended criterion, 12 accounts totaling about 25% of the current gross NPAs of the banking system would qualify for immediate reference under IBC."
Framework under NPA ordinance by RBI may be out within 15 days
Mon, May 22, 2017
The Reserve Bank is likely to announce within a fortnight the guidelines to operationalise NPA ordinance so as to expedite the recovery of bad loans which have crossed Rs 8 lakh crore.