Rajan says he sent a list of prominent bank fraud cases to the PMO, but heard nothing more about it. Former RBI chief Raghuram Rajan has dissected the banking
Day: September 26, 2018
Finance minister hits out at Rajan for MSME banking crisis statement – The Economic Times
“I think for anyone to do postmortem is easier than action when it was required,” Jaitley said when asked to comment on Rajan’s view about
Step in, Government, and force IL&FS to list–Economic Times
Infrastructure Leasing & Financial Services (IL&FS) has fashioned its own rescue, and the rescue plan might well work out. But it is too large an
What’s after WTO? Global trade wars won’t end soon, India will need to adjust and adapt–Times of India
The trade war between US and China has escalated over the last few days in a series of retaliatory tariffs. Chances of resolution are ebbing
IL&FS | NCLT: Sidbi may take IL&FS to National Company Law Tribunal–Economic Times
The Small Industries Development Bank of India (Sidbi) may file a case in the National Company Law Tribunal (NCLT) against debt-laden Infrastructure Leasing & Financial Services Ltd (IL&FS) for
NPAs: Whopping Rs 1.8 lakh crore debt recovery expected in FY19 from IBC and non-IBC route, says FM Jaitley – The Financial Express
The Narendra Modi government on Tuesday said that the debt recovery in the financial year 2018-19 is expected to be Rs 1.8 lakh crore from both Insolvency
Time to restore ethics in banking, says former Union finance secretary Ashok Lavasa – The Financial Express
It is time for the banking sector in India to re-introduce ethics in banking, election commissioner and former Union finance secretary Ashok Lavasa has said.
Videocon goes to bankruptcy! Bids invited for Venugopal Dhoot’s company under IBC – The Financial Express
Once a household name and successful brand, Videocon Industries is going into bankruptcy for defaulting on debt worth Rs 20,000 crore. Venugopal Dhoot’s Videocon, which has
Govt to consider PSBs’ demand on relaxing PCA framework for banking system | Business Standard News
The Union government on Tuesday said it will consider demands from public sector banks (PSB) to approach the Reserve Bank of India (RBI) on relaxing the Prompt Corrective
Bad news for creditors as IL&FS, 40 arms move NCLT seeking debt protection | Business Standard News
Infrastructure Leasing & Financial Services (IL&FS) and its 40 subsidiaries have filed a petition before the National Company Law Tribunal (NCLT), Mumbai, under Section 230 of
Crisis in NBFCs | Business Standard Editorials
Is the crisis in IL&FS a sign that India has a shadow banking problem? The markets surely think so, as was evident in the panic
Managing the oil risks | Business Standard Column
A sharp rise in retail prices of petrol and diesel in the last five months has exposed the political vulnerability of the Bharatiya Janata Party
FM Arun Jaitley launches portal to grant MSME loans within an hour | Business Standard News
Finance Minister Arun Jaitley on Tuesday launched a portal to enable micro, small and medium enterprises (MSMEs) to get in-principle approval of loans within an hour without
Insolvency proceedings: Bharati Defence bidders to deposit Rs 100 million | Business Standard News
The National Company Law Tribunal’s (NCLT’s) Mumbai Bench directed any entity wishing to bid for Bharati Defence and Infrastructure for Rs 100 million as Earnest Money Deposit (EMD) by
More pain ahead for NBFCs – The Hindu BusinessLine
Frothy valuations, difficulty in raising funds from the bond market after the IL&FS episode, and existing growth and asset quality challenges suggest that there is
Apex court stays insolvency proceedings against GTL, infra arm – The Hindu BusinessLine
State-run lender Canara Bank has dragged telecom solutions provider GTL and its subsidiary GTL Infrastructure to the National Company Law Tribunal (NCLT) claiming a default
Can’t blame States for fiscal deficit slippage: Rathin Roy – The Hindu BusinessLine
It is preposterous to hold State governments’ finances responsible for the India’s fiscal deficit, said Rathin Roy, Director, National Institute of Public Finance and Policy
IL&FS shareholders may press for audit of its step-down units – The Hindu BusinessLine
Key shareholders of cash-strapped IL&FS are likely to press for an audit of transactions at its 50 overseas step-down (indirect) subsidiaries before committing monies to
NPA mess: Bankers seek Govt help to speed up debt recovery process – NEWS – The Hindu BusinessLine
Public sector banks’ (PSB) chief executives on Tuesday sought government intervention to speed up the debt recovery process, including faster approvals from District Magistrates, to
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