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Loan Default News
Loan default: Shares of BoB, BOI among others banks fall over 6%
Mon, Feb 19, 2018
Loan default case of Rotomac Global, promoted by Vikram Kothari, came close on the heels of the Rs 11,515-crore Punjab National Bank fraud by billionaire jeweller Nirav Modi
Acharya blames RBI's forbearance schemes for NPA issue
Thu, Aug 24, 2017
"Unfortunately the RBI, for variety of reasons, has engaged in various forbearance schemes saying you can take another 18 months or two years...In one way or the other, we've actually contributed to the NPA problem to become so protracted over a period.
Dreams of Ola, Uber drivers crash as incentives trickle and loans catch up
Tue, Apr 25, 2017
These drivers have been protesting low fares and low incentives that these taxi-hailing app companies are now offering.
Extradition request for Mallya certified by UK secretary of state
Fri, Mar 24, 2017
The UK has conveyed to India that its request for extradition of industrialist Vijay Mallya, who has been declared a proclaimed offender, has been certified by the secretary of state.
Mallya says ready to talk to banks for one-time settlement
Fri, Mar 10, 2017
The embattled liquor baron Vijay Mallya on Friday took to Twitter saying he is ready to negotiate with banks to pay a one-time settlement charge on Rs 9,000-crore loan default.
Vijay Mallya's sweetheart deal: Sebi may order payout for small investors
Thu, Jan 26, 2017
Market regulator Sebi is likely to order additional payout to small investors by way of a fresh open offer in loss to minority shareholders of United Spirits promoted by Vijay Mallya and new owner Diageo.
Kingfisher House to go on auction for 3rd time on Dec 19, reserve price at Rs 115 crore
Sat, Nov 26, 2016
The 17-lender consortium to the defunct Kingfisher Airlines has again put on sale its erstwhile headquarters, Kingfisher House, but with a 15% reduction in the reserve price.
ED registers new money laundering case against Vijay Mallya
Wed, Aug 24, 2016
In more trouble for businessman Vijay Mallya, the Enforcement Directorate (ED) has registered a fresh money laundering case against him and his associates to investigate the alleged loan default of Rs 6,027 crore availed from a consortium of nationalised banks, a case taken over by Central Bureau
RBI questions banks for lending Rs 5,262 crore to rice trading firm REI Agro
Mon, Aug 15, 2016
Reserve Bank of India (RBI) has questioned the decision of a 21-bank consortium led by UCO Bank to extend a staggering Rs 5,262-crore loan to Kolkata-based rice trading firm REI Agro which was found to be involved in fraudulent activities.