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PROJECT SASHAKT
PM Modi inaugurates key development projects in MP's Dhar on 75th birthdayMarking his 75th birthday, PM Modi launched development initiatives in Madhya Pradesh, including the Swasth Nari–Sashakt Parivar Abhiyaan a...- Need to change mindset to keep pace with evolving times: CDS to defence stakeholdersChief of Defence Staff Gen Anil Chauhan emphasized the need for the defence sector to change its mindset and embrace fusion and synergy to ...
- Banks working on legal pact for ‘good’ loansMost banks have made changes to their credit processes after bad debts piled up, with many either cutting down on lending to projects or in...
- PSBs can find resolution under Project Sashakt nowBanks were also directed to find resolution for stressed firms .
- 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.
- Piyush Goyal named interim Finance & Corporate Affairs ministerAhead of the interim budget, he has been given additional charge of Finance and Corporate Affairs ministries.
- Bank-led resolution of NPAs set to beginIndian Banks’ Association has now asked the 34 lenders to initiate and send the resolution proposals under the scheme.
- Sunil Mehta panel incorporates 'Sashakt India AMC' for large NPAsUnder the project, the committee had to float an AMC and an AIF to resolve non-performing assets (NPAs) over Rs 500 crore.
- SBI hopes to resolve 7-8 stressed power assets by Nov 11: ChairmanThe RBI framework provided for a strict timeline for resolution of these bad loans where debt is Rs 2,000 crore or more.
- Government wants IBC, and not ARCs & AMCs, to be its main weapon against bad loansGovt is not keen on the use of asset reconstruction companies and proposed asset management companies.
- Avenue Cap to pick up majority stake in Arcil for Rs 1,000 croreKnown for its deals in the distressed debt space, Avenue Capital will pump in about Rs 1,000 crore to acquire the stake, said one of the pe...
- Kotak Mahindra to explore bad-loan AMC opportunitiesThe government had accepted the proposals and that there could be more than one such AMC.
- Panel proposes auction of NPA security receipts worth Rs 90,0000 croreSEBI has already approved norms for listing SRs issued by ARCs. ARCs currently need to pay lenders at least 15% in cash for taking over an ...
- NIIF may move to acquire stressed infrastructure projectsNIIF’s mandate is to stick to infrastructure and it’s not likely to join the asset management company (AMC) proposed by banks to deal with ...
- Project Sashakt looks good on paper, but can it really deliver?As of March 31, 2018, bad loans across listed banks stood at over Rs 10 lakh crore.
- State-run asset reconstruction companies may be roped in to clean up banksArcil, the first ARC set up in the country, was the third-largest player at the end of March with assets under management (AUM) of around R...
- Project Sashakt: Banks give shape to inter-creditor pact for bad assetsBanks will now take inter-creditor agreement to their respective boards for approval and it’s expected to go live later this month, Punjab ...
- Banks finalise inter-creditor agreement to deal with NPAsThe meeting called by Indian Banks Association was also attended by Finance Minister Piyush Goyal, who had accepted the report of the Sunil...
- PSU Banks to set up AMCs, AIFs for loan resolutionThe initiative will be run by the banks without government involvement, will be in harmony with all current laws and will function as an ad...
- BJP needs 2 crore members each month to reach targetAlthough Prime Minister Narendra Modi congratulated the party workers for their efforts on Twitter, senior BJP leaders said that this was l...
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