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The agenda going forward is clear: The banks have to regain the confidence of investors so that they can raise funds from the capital markets and not be dependent on government. (Representational image)

Business

Public sector banks recover Rs 1.2 lakh cr from bad loans in 2018-19

Banks recovered close to Rs 55,000 crore from the NCLT resolution, an official said.

25 May 2019 1:12 PM IST

As on March 31, 2019, there were 1,143 cases outstanding under the IBC of which resolution in 32 per cent of the cases was pending for more than 270 days.

Business

IBC process helps recover Rs 70,000 cr bad loans in FY19: Report

The recovery rate for the 94 cases resolved through IBC by FY2018-19 is 43 per cent.

15 May 2019 8:49 AM IST

NCLAT has directed the resolution professional, committee of creditors and NCLT not to pass any order in the matter related to insolvency resolution of Essar Steel.

Business

Essar Steel shareholder seeks rejection of ArcelorMittal bid for...

Essar Steel shareholder ESAHL said ArcelorMittal India Ltd and its promoter Lakshmi Mittal had 'misled' Supreme Court.

7 May 2019 3:12 PM IST

Business

Dangerous to let viable cos close down: IBBI chief

The objective of IBC is to rescue viable companies and close down unviable ones, IBBI chief M S Sahoo said.

4 May 2019 2:49 PM IST

The rupee pared initial gains to fall 7 paise to 71.82 against the US currency in late morning deals on Thursday on bouts of dollar demand from banks and importers. (Photo: DC)

Business

By March 2020, banks' gross NPAs to reduce to 8 per cent

The banking system saw gross NPAs reaching a peak of 11.5 per cent in March 2018. In March 2019 NPAs stood at 9.3 per...

27 Jun 2019 2:00 PM IST

Jet Airways stock ended the day at Rs 604.35, down 1.55 per cent from the previous close on BSE.

Business

Jet Air lands in NCLT as banks give up on revival

The decision was taken after a meeting of the lenders, as they have not yet received any concrete proposal for the...

18 Jun 2019 6:39 AM IST

Moodys has downgraded Chinas long-term rating by one notch from Aa3 to A1 as the Chinese government grapples with the challenges of rising financial risks stemming from years of credit-fueled stimulus.

Business

RBI's new prudential framework for stressed asset resolution credit...

RBI issued a framework for resolution of stressed assets, which give banks 30 days to review a borrower account before...

10 Jun 2019 11:21 AM IST

Fund managers believe mutual funds, which are considered popular and convenient investment tools, have advocated asset allocation-based strategies to make the journey smoother for investors.

Business

Singapore can become major investor in India's stressed assets, says...

A large part of existing investment is Singapore's government linked funds and private equity funds in India.

7 Jun 2019 12:50 PM IST

The revivalist RSS has backed the clergy although the Supreme Court has permitted all women to enter the shrine as equal citizens. (Representational image)

Business

New NPA resolution norms soon

The SC had clarified that the Centre has to authorise the RBI to issue direction to banks/non-banks if it were an...

7 Jun 2019 6:56 AM IST

$Addressing a conference on Insolvency and Bankruptcy Code (IBC) at Hong Kong on Thursday, IBBI chief MS Sahoo observed that \in addition to rescuing viable firms, which is the sole objective of IBC; resolution plans under IBC have yielded 200 per cent of liquidation value for creditors.\$ Business

Haircut compared to amount due, but bonus compared to liquidation...

According to Sahoo, the resolution plans have yielded about 200 per cent of liquidation value for creditors.

4 Jun 2019 2:17 AM IST

Bharatiya Janata Party MPs, Saroj Pandey and Ajay Pratap Singh gave notices in Rajya Sabha over simultaneous elections and problems due to increasing population in the country, respectively. (Photo: ANI)

India

Rajya Sabha approves Insolvency and Bankruptcy Code (Amendment) Bill,...

Manish Gupta supported the Bill but added that the Bill should have been referred to a parliamentary panel for further...

30 July 2019 9:47 AM IST

$\There is an imminent crisis in the NBFC sector. There is a credit squeeze, over-leveraging, excessive concentration, massive mismatch between assets and liabilities, coupled with some misadventures by some very large entities, which is a perfect recipe for disaster,\ Injeti Srinivas said.$ Business

Govt plans loan waiver for 'small distressed borrowers' under...

The proposed waiver would be offered as part of 'Fresh Start' provisions under the Insolvency and Bankruptcy Code.

18 Aug 2019 2:17 PM IST