Sources clarify that the NCLT's approval of a repayment plan for Essel Group founder Subhash Chandra does not signify a 99.97 per cent write-off of Rs 22,000 crore in bank loans, as the figure represents claims against him as a personal guarantor, not debt personally borrowed.
Public sector banks (PSBs) have written off bad loans of about Rs 5.82 lakh crore in the last five financial years, Parliament was informed on Tuesday. During 2024-25, the loan write-off of PSBs was at Rs 91,260 crore, compared to Rs 1.15 lakh crore in the previous fiscal, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.
Earlier, Preity posted about the platform's growing cynicism, especially when people expressed appreciation for public figures.
Public sector banks have written off loans worth Rs 6.15 lakh crore in the last five and a half years, Parliament was informed on Monday.
'Last year, Rs 20,000 crore was ripped off from the banking system.' 'The situation has deteriorated under the Modi government.'
The Rs 60,000 crore (Rs 600 billion) farm loan relief package announced by finance minister P Chidambaram in the budget might have become an issue of debate but write-offs are not new to the banking system. During the last five years, banks have written-off loans farm, retail and corporate -- amounting to over Rs 60,000 crore to clean up their balance sheet.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
Public banks may have a tough time in 2015 as they had to write off Rs 1 trillion.
Public-sector banks (PSBs) in Q3FY23 wrote off bad loans worth Rs 29,000 crore, up from Rs 23,000 crore in the same quarter a year ago, as part of a clean-up exercise. According to estimates by rating agency CARE Ratings, the write-offs by PSBs in April-December 2022, at Rs 81,000 crore, were lower than the Rs 90,000 crore in April-December 2021. Sanjay Agarwal, senior director, CARE Ratings, said a lot of it was driven by regulations, and assets that had 100 per cent provision coverage were written off.
The employees associations of Industrial Finance Corporation of India have requested the government to merge it with a strong bank or financial institution.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
67 companies with total debt of Rs 5.65 lakh cr were either loss-making or didn't generate enough profit to cover interest cost in FY15
Retail investors have put at least Rs 2,296 crore in listed companies facing proceedings under the Insolvency and Bankruptcy Code (IBC). A median such-company had 16,163 retail investors as shareholders many of whom apparently have bought a stake on the hope of making money if the firm revives. They own a fifth of the total stake in the companies under consideration. The analysis looked at 75 listed firms for whom shareholding data was available for March 2022.
In a filing to the Bombay Stock Exchange (BSE), USL said it had made a recommendation to the board of subsidiary United Spirits to consider the sale of the entire share capital of Whyte & Mackay.
The Reserve Bank of India collects credit information from banks under the CRILC reporting system for borrowers with the credit exposure greater than Rs 5 crore.
The move comes ahead of the tighter provisioning norms kicking in from next April
The Congress said arrogance of the BJP has touched its zenith as it turned 'blind' to farm distress.
The money was paid to Mallya in two tranches in his offshore accounts.
