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JLF MECHANISM
Banks can now refer defaulters to NCLT on case by case basis: BankersAccording to Tyagi, the resolution can be done through any of the mechanism which existed prior to February 12, 2018 circular.- One-day default clause for banks needs a relook, says MundraFormer deputy governor SS Mundra said though the intention of the regulator is correct.
- Foreign companies need to be incentivised to set up defence manufacturing bases in India: Arun Jaitley"Companies will establish manufacturing units only if there is a likelihood that they will get business," Defence minister Arun Jaitley sai...
- Banks' NPAs to rise by Rs 8,000 crore in Q4 on account of Gitanjali GemsGitanjali is the major account which has turned bad in the fourth quarter of 2017-18.
- IDBI prepares roadmap for NPA reduction, improving financial healthThe bank has also identified various non-core assets and real estate properties for sale to shore up its capital, sources said.
- Bhushan Steel promoter seeks recast of Rs 44k-cr debt under S4A schemeThe letter, written on January 29, alleges that the company was wrongly dragged into IBC under the National Company Law Tribunal despite it...
- Indian banks may not have priced risks correctly: RBI deputy governorNS Vishwanathan said banks unable to properly ascertain risks have a fundamental problem and they needed to learn the finer points of risk-...
- Government has no plan to tax agriculture income: FM Arun JaitleyThe Finance Minister eased fears, following comments by a member of the NITI Aayog that farmers should be liable to pay tax on their income...
- NPA ordinance credit positive, but more steps needed: Moody'sLast week, the government through an ordinance provided the Reserve Bank with greater powers to intervene in the resolution of non-performi...
- NPA resolution policy gathers pace, likely announcement soonThis will provide a clear direction on the NPA front and the government will be able to take the bull by horns, the official said.
- Stressed assets resolution mechanisms need more teeth, says RBI Deputy Governor“I think we need to provide more strength to the processes and that is where there are discussions going on," SS Mundra said.
- Discussions on going to improve stress asset resolution processes says RBI’s MundraMundra added that various stakeholders have come to a conclusion that a one-size-fits-all solution won’t work and NPAs would need to be han...
- Modi government, RBI may look at penal action, one-time settlement to fix bank defaultersGovernment and the central bank are awaiting the report from banks post completion of forensic audit on big defaulters, an official told ET...
- RBI revises rules for resolution of stressed MSME loans"In order to enable faster resolution of stress in an MSME account, every bank shall form Committees for Stressed MSME," RBI said in a noti...
- Reserve Bank of India and banks brainstorm on how to stem the rising levels of bad loansThe maxim that weak bank stocks are cheap and longterm investors should buy them may not hold true for some state-owned banks, going by the...
- Bad loans hit bank profits, is RBI set to act?Banks and finance companies suggested to the Reserve Bank of India several measures that can be taken to stem the expanding bad loans, whic...
- Lenders invoke Strategic Debt Restructuring in IVRCLIVRC said that the senior lenders of the company will meet this week under the Corporate Debt Restructuring (CDR) mechanism.
- RBI Deputy Governor Mundra says JLF will be streamlined further soon"We are trying to bring in some more improvements in the JLF mechanism. Very soon, a paper will be out for further refinements."
- Raghuram Rajan says measures to improve JLF functioning on the anvilRaghuram Rajan today said the Reserve Bank will shortly announce some measures that should improve the functioning of the joint lenders' fo...
- Unlocking value via SDR: PEs, others can check inA well-timed regulation from the Reserve Bank of India (RBI) allowed the JLF to invoke Strategic Debt Restructuring (SDR).
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