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NPA ORDINANCE
Homebuyers, MSMEs may get IBC reliefThe ordinance will make homebuyers financial creditors as the amounts raised from them under a real estate project would count as commercia...- Creditors need to take haircut in resolving bankruptcy: Arun Jaitley“If we had not done this, defaulters would have rejoiced because they would have merrily walked back to these cos by paying only a fraction...
- Working on resolution of large NPA accounts: RBI"Overall, the RBI has a strategy to deal with the resolution of large assets and we are working in a calibrated manner and we hope to see s...
- Niti Aayog readies report on PSU banks consolidationNITI Aayog report on merger and consolidation in public sector banks is expected in a month," a senior Finance Ministry official said.
- RBI outlines action plan to implement ordinance on NPAsRBI will hold meetings with stakeholders, including PE firms and ARCs. It also said it would expand the scope of cases to be referred to ov...
- Framework under NPA ordinance by RBI may be out within 15 daysRBI has identified about 50 cases for NPA resolution after it was empowered by the government to ask banks to initiate insolvency proceedin...
- NPA ordinance is powerful, can be a milestone in enabling other resolutions: Chanda Kochhar"NPA ordinance is a very powerful ordinance and in a way it is a big milestone that can create an environment to enable a lot of resolution...
- IMF alert on NPAs may have made RBI seek more powerIMF's Adrian had made a presentation earlier this year, during which he noted that the Indian corporate sector was highly leveraged and und...
- Banks don’t need to wait 90 days to start loan recoveryUnder Reserve Bank of India rules, a loan becomes non-performing if the interest or instalment of principal remains overdue for more than 9...
- 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...
- RBI, IBA to select cases for resolution of NPAsThe government has no intention to get into individual cases and it has already given authorisation to the banking sector regulator, an off...
- RBI to soon start picking bad loan cases for actionAt any point, the RBI can issue more guidelines to make the process more effective, the official said, adding that haircut is a commercial ...
- NPA ordinance to make borrowers, bankers behave more responsibly?Government’s move to empower the regulator with powers to dictate to banks on how to go about bad loans’ resolution has come as a shot in t...
- With the Ordinance on NPA, resolutions will move much faster: Pawan Kumar Bajaj, United Bank of IndiaWith this ordinance and bankruptcy and insolvency act, yes definitely it is a positive step and because it is time bound, it means action n...
- Ordinance to help recover one-third of the NPAs: AM Naik, L&TBanks should solve the problem with backing from RBI rather than direct intervention by RBI
- High NPAs impeding growth of factoring business: RBI officialHowever, sounding a note of caution, he said, These are hard problems, these are difficult problems, but we are determined to solve them."
- Within 60 days, no-fly list will become the law of the land: Jayant Sinha, MoS, Civil AviationWe expect that it will take us 30 days to get all of the inputs from various stakeholders and then within 60 days we will be able to promul...
- Everyone should share the burden of bad loans: R Marathe, MD, Bank of MaharashtraBank of Maharashtra's managing director of the bank Ravindra Marathe says that the bank will focus on recovery and retail lending to shore ...
- Bankers’ panel to draft law on borrowers’ rightsTo pacify corporate India, which has dubbed the NPA Ordinance as financial Pota, the Finance Ministry has appointed a five-member committee...
- NPA ordinance to be reissuedThe Cabinet has approved the repromulgation of the securitisation ordinance which would expedite the recovery of loans and help bring down ...
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