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LABELLING WILFUL LOAN
Scrap the 'wilful defaulter' tag: Indian banks' transformation from cheque cashing to digital dash, but with a laggardMany laws governing the banking industry have also evolved to accommodate rapid changes that are driving innovation at breakneck speed. How...- RBI's new guidelines still unclear on 'intention' of loan defaultReserve Bank of India has announced new guidelines on labelling wilful loan defaulters that set out timelines, processes and penalties. How...
- Banks' fraud account classification faces legal challenges: No personal hearings, potential court battles aheadBanks in India will not provide a personal hearing to companies before classifying them as 'fraud' accounts, but will re-evaluate the decis...
- Supreme Court verdict on fraud loans may remove hurdles for lendersBankers and lawyers said that though the process to declare a fraudulent account may get elongated after the Supreme Court verdict, a detai...
- In one fell swoop, SC punctures RBI's efforts to tackle bad loansSince beginning, the RBI circular on bad loans created a huge amount of hue and cry in various quarters.
- Vijay Mallya fugitive case: Court fixes Sept 3 as next dateThe businessman is currently contesting his extradition case in London filed by the Indian government on behalf of the CBI and ED.
- Wilful defaulters form 14% of PSB bad loansWilful defaults have an element of malfeasance as it broadly means that the borrower has reneged on the agreement on usage of funds or has ...
- PSU banks take recovery action against 5,954 wilful defaultersThe country's largest lender SBI has taken action against 1,444 such defaulters with outstanding loan of Rs 20,943 crore.
- Defaulters owe 27% of total amount to SBI alone, PNB nextAs many as 1,762 wilful defaulters owed Rs 25,104 crore to State Bank of India as on March 31, putting pressure on its balance sheet.
- Wilful defaulters owe Rs 92K cr to PSU banksThe outstanding loans by wilful defaulters rose to Rs 92,376 crore at the end of financial year 2016-17, as against Rs 76,685 crore at the ...
- What does a forensic audit achieve?The auditors often provide expert testimony during trial proceedings. Most large accounting firms have a forensic auditing department.
- PSU banks register 1,624 FIRs against wilful defaultersWilful defaulters owe PSU banks a total of Rs 64,334.59 crore at the end of first half of the current fiscal.
- SBI tags Vijay Mallya, his 2 firms as wilful defaultersSBI has declared industrialist Vijay Mallya a 'wilful defaulter' for defaults on nearly Rs 7,000 crore loans to the long-grounded Kingfishe...
- 7,035 wilful defaulters owe Rs 59,000 crore to PSU banksAs many as 7,035 wilful defaulters owe about Rs 59,000 crore to state-owned banks and SBI and Central Bank of India account for bulk of suc...
- Banks will now be able to convert loans into shares for taking over firms from truant borrowersAsked whether banks can fund the acquisition of cos that are chronic and wilful defaulters, RBI said the regulator is “not against acquisit...
- Vijay Mallya's chairmanship of United Spirits subject to caveats: DiageoUBHL is the Indian-listed parent entity of Mallya's UB Group and has to repay a loan of about Rs 1,340 crore to USL.
- Indian banking needs root-and-branch reformIndia’s citizenry shoulders the burden of the loans that get eventually written off, in their double capacity as depositors and taxpayers.
- Calcutta High Court's 'No' to Vijay Mallya's plea gives loan recovery a pushKingfisher Airline has Rs 350 crore to pay to UBI while its total banking exposure is more than Rs 6,400 crore. Bankers are hopeful this ru...
- Amend laws to speed up recovery of bad bank loans: All India Bank Employees AssociationTop banking association has demanded amendments in relevant laws to speed up recovery of bad loans amounting to Rs 1,64,000 crore.
- United Bank of India labels Bilcare as 'wilful defaulter' in a 'war on NPAs', to send winding-up noticeUnited Bank of India has taken action against four loan defaulters in an attempt to reduce its non-performing loans.
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