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Deadline to restructure $52 billion loan may push dozens of companies into bankruptcy

The RBI in February introduced new rules and a 180-day timeline for banks to recast loans once payments are missed, scrapping previous methods that could take an indefinite amount of time.
The step is an attempt by the RBI to clean up banks that are suffering from the world’s worst bad-loan ratios after Italy.(PTI)
The step is an attempt by the RBI to clean up banks that are suffering from the world’s worst bad-loan ratios after Italy.(PTI)
Updated on Aug 27, 2018 06:55 PM IST
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Bloomberg | ByAnurag Joshi, George Smith Alexander

LIC board approves acquisition of up to 51% stake in IDBI Bank

LIC’s buying stake in IDBI Bank will help the debt-ridden state-owned bank get a capital support of 10,000- 13,000 crore.
LIC has been looking to enter the banking space by acquiring a majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender’s stressed balance sheet.(Reuters File Photo)
LIC has been looking to enter the banking space by acquiring a majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender’s stressed balance sheet.(Reuters File Photo)
Updated on Jul 16, 2018 02:59 PM IST
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Press Trust of India, New Delhi | ByHT Correspondent

PNB puts on sale three NPAs to recover 136 crore dues from borrowers

The three NPAs or bad loans that have been put on sale are Gwalior Jhansi Expressways with an outstanding of 55 crore, SVS Buildcon Pvt Ltd. ( 50 crore) and Shiva Texfabs Ltd. ( 31.06 crore).
Earlier in April too, the second largest public sector lender PNB had invited bids to sell three NPA accounts — Shree Sidhbali Ispat Ltd (Meerut) with non-performing loans of <span class='webrupee'>₹</span>165.30 crore, Sri Guruprabha Power Ltd (Chennai) <span class='webrupee'>₹</span>31.52 crore and Dharamnath Investment (Mumbai) <span class='webrupee'>₹</span>17.63 crore to recover dues.(Reuters/Photo for representation)
Earlier in April too, the second largest public sector lender PNB had invited bids to sell three NPA accounts — Shree Sidhbali Ispat Ltd (Meerut) with non-performing loans of 165.30 crore, Sri Guruprabha Power Ltd (Chennai) 31.52 crore and Dharamnath Investment (Mumbai) 17.63 crore to recover dues.(Reuters/Photo for representation)
Updated on Jul 06, 2018 11:56 PM IST
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New Delhi | ByPress Trust of India

I-T dept issues second notice to Deepak Kochhar

The notices dovetail with a Central Bureau of Investigation preliminary enquiry concerning a suspected quid-pro-quo in a loan extended by ICICI Bank to the Videocon Group in 2012, and Videocon chairman Venugopal Dhoot’s investment (and subsequent transfer of ownership) in a company co-founded by him and Deepak Kochhar.
Deepak Kochhar, founder and CEO and manging director of NuPower Renewables Pvt. Ltd.(File Photo)
Deepak Kochhar, founder and CEO and manging director of NuPower Renewables Pvt. Ltd.(File Photo)
Updated on Apr 12, 2018 11:23 PM IST
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Hindustan Times, New Delhi | ByP Suchetana Ray

Public banks wrote off 2.41 lakh crore loans in over 3 years: Govt to Rajya Sabha

The government says the recovery of dues takes place on ongoing basis under legal mechanism, including SARFAESI Act and debt recovery tribunals.
Opposition members protest during the ongoing budget session of Rajya Sabha, at Parliament House in New Delhi.(PTI Photo/TV Grab)
Opposition members protest during the ongoing budget session of Rajya Sabha, at Parliament House in New Delhi.(PTI Photo/TV Grab)
Updated on Apr 03, 2018 09:03 PM IST
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Press Trust of India, New Delhi | ByPress Trust of India

Forget slowing CPI, India’s $93 billion bond sales are its biggest worry

The yield on the benchmark 10-year debt has advanced 20 basis points since the government announced its new budget on Feb. 1, amid the worst selloff in two decades.
While a government report on Monday showed inflation slowed for a second month, it’s the near-record bond auctions starting in weeks that’s dominating talk, Naveen Singh, head of fixed-income trading with ICICI Securities Primary Dealership said.(Reuters File)
While a government report on Monday showed inflation slowed for a second month, it’s the near-record bond auctions starting in weeks that’s dominating talk, Naveen Singh, head of fixed-income trading with ICICI Securities Primary Dealership said.(Reuters File)
Updated on Mar 13, 2018 04:25 PM IST
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Kartik Goyal, Bloomberg | ByHT Correspondent
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