'I suspect the recovery that the banks are going to get out of this IBC is not going to be more than 30 per cent.' 'If you leave the steel industry aside, the recovery rates are not looking very, very healthy,' Jairam Ramesh tells the Rajya Sabha.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
Loans of over Rs 1.8 trillion, for which agreement has been signed by banks, are likely to be referred to IBC.
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
Delhi Police ask for 45 documents for opening a restaurant, only 19 for a gun: Survey
The total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
From crisis leaders to future Goliaths, India Inc saw them all in 2017, says Shailesh Dobhal.
The company denies any wrongdoing, but says that the negative media coverage has left it with no clients and mounting legal fees which has forced it to resort to closure.
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
Earlier when Goyal had moved court seeking permission to go abroad, the judge had observed that if he wanted to go abroad, he should first deposit Rs 18,000 crore as guarantee that his company owes to lenders.
Motilal Oswal, chairman and managing director, Motilal Oswal Financial Services, tells Puneet Wadhwa that with Moody's upgrading India's sovereign rating and earnings growth coming back, the country will remain a hot destination for foreign investors.
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
While some countries are business friendly, others are not.
From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real,says Shailesh Dobhal.
Speaking at an Assocham event, Modi said the recent cut in corporate tax has brought rates to all-time low for businesses, adding that labour force should also be taken care of.
European politicians who insisted on introducing the euro in 1999 ignored the warnings of economists.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
The move will have cascading effects for lot of related sectors
The prime minister has been unstoppable as he transported the BJP to colossal success on a wave of muscular nationalism, majoritarian pride and charisma.
DoT still working on final AGR dues due to varying accounting practices. Telecom operators have been submitting two separate audited details of deduction towards interconnection usage charges and roaming fee to the DoT.
Vodafone Idea on Monday paid Rs 2,500 crore to DoT and promised to pay another Rs 1,000 crore before the end of the week.
... if high oil prices persist or stock prices correct sharply.
Despite the gains from Jet's closure, in 2018 and 2019, the airline continued to make losses in many quarters for a variety of reasons, including some mistakes like taking on Jet's aircraft, which were not in great shape and had business class configuration, a gamble that did not work for SpiceJet.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
The three options are - a one-time settlement, restructuring of loans and of course go to IBC.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
'From the start, we have sought to put in the right measures at the right time. We will not hesitate to go further if that is what the scientific and medical advice tells us we must do'
Experts say the impact on the schemes' NAVs may vary in the coming days, depending upon how fund houses treat the developments on VIL and whether there are any further rating downgrades or credit events.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
The warships will be armed with BrahMos supersonic cruise missiles which can reach targets 295 km away.
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
