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LOAN DEFAULT COMPENSATION
When a small footnote is used as a tool to make a weak balance sheet look strongThis is the uncomfortable truth about company accounts. A number on a balance sheet is not always cash that will return, and a liability tu...- Central Bank of India ordered to pay Rs 2.5 lakh compensation to customer for losing original property papersA consumer commission held the Central Bank of India liable for losing a land title deed deposited as collateral for an agricultural loan. ...
- Remember GoPro, the king of action cameras? The once-$11 billion giant is now fighting just to stay aliveGoPro bankruptcy risk: Once an $11 billion market cap giant, GoPro now faces an uncertain future. Its auditor raised "substantial doubt" ab...
- Can banks block your mobile in case of loan default? RBI lays down rules for restricting services; Rs 250/hour compensation in this caseIf the lender bank decides to deploy any technology-based mechanism for restricting or disabling the functionalities of a mobile device of ...
- RBI proposes rules to let lenders disable phones for loan defaultsThe Reserve Bank of India is proposing to allow lenders to disable certain mobile phone functions for loan defaulters, specifically for dev...
- 2008-like crisis ahead? JPMorgan launches new way to bet against debt of Microsoft, Meta, Google; what this meansInvestor anxiety is rising as oil prices surge amid the US-Iran conflict, while JPMorgan Chase has launched new credit default swaps allowi...
- Covid-19, CAA protests reasons behind MFI loan defaults: Himanta Biswa SarmaTaking another giant leap forward towards fulfilment of promises made during campaigning for the 2021 State Assembly elections, Sarma on Sa...
- Homebuyers, banks on the same sideRera and Sarfaesi must be interpreted consistently to protect the interest of homeowners and ensure banks recover their dues from defaultin...
- Questions for 2020: A big NBFC collapses?Today, the story has a different shade of grey. Even as the fear that gripped earlier is ebbing, hard times are here. So far the strain was...
- Insolvency Ordinance has a critic in UmarjiA crafty competitor, according to him, may take advantage of the amendment to acquire or shut down a distressed competitor.
- Madhya Pradesh government to give Rs 1 crore to kin of slain soldiersCM Shivraj Singh Chouhan assured that the government will not spare those responsible for the violence in Mandsaur in which six farmers wer...
- Jaypee Infra seeks loan at 16-17% amid financial woesGiven the financial woes of the group, lenders are charging almost twice the rate that a retail home loan borrower would pay , said a banke...
- Bank liable to pay for loss of documents taken against loanThe National Commission observed that if a document is misplaced, there is a possibility that it could be recovered at a later stage.
- Loan defaults: Banks can take your cash from accountIf you default on your payments, the bank can withdraw money from your savings account or fixed deposits.
- Consumer panel raps finance company for repossessing vehicleThe Delhi Consumer Commission has rapped a finance company for forcibly taking back a vehicle from its owner after he defaulted in loan rep...
- House panel suggests interest free loans to farmersFarmers who have cleared their debts within the period covered by the Rs 60,000-crore loan waiver scheme should be provided interest-free l...
- ICICI Bank told to return re-possessed car, pay Rs 50K fineThe ICICI Bank has been directed by a consumer court to pay Rs 50,000 compensation to a customer and return his Indica car forcibly reposse...
- India Inc defaulters may get recast leeway, freedom to exit CDRAs per current formula, a company has to repay the principal that lenders had sacrificed while restructuring loan.
- ICICI Bank may exit subprime businessThe decision comes in the wake of recent events which has led to a backlash against ‘harassment’ by loan recovery agents. How to freeze on ...
- Banks can attach and sell assets of loan defaultersBanks will have a greater advantage now over defaulting borrowers.
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