831 loan accounts of PNB involving Rs 1.03 lakh cr under IBC
State-owned Punjab National Bank (PNB) has informed that insolvency resolution process has been initiated in 831 of its loan accounts...
Banking
ED attaches Rs 30 crore assets in Nirav Modi bank fraud case
Directorate of Enforcement (ED) has provisionally attached proceeds of crime in the form of immovable properties and bank balances amounting...
Banks to display borrowers’ name whose assets taken into possession under SARFAESI Act
As a part of the move towards greater transparency, the Reserve Bank of India (RBI) has asked lenders, which are...
Beyond UPI: Faster payment systems other countries are experimenting with
India’s Unified Payments Interface (UPI) is wining plaudits across the globe for revolutionising faster payments. The G20 Global Partnership for...
Lengthy process a major impediment in resolution of bad loan cases: Fitch
India’s lengthy legal processes remain a major impediment to the implementation of an effective framework for bankruptcy and resolution of...
Credit monitoring start-up TruBoard raises $2.7 million from marquee investors
TruBoard Partners, a tech-enabled asset monitoring & collections platform, has raised an $2.7 million equity from investors lead by marquee...
LegalPay exits first interim finance deal with over 26% returns
Can interim finance be a lucrative business? LegalPay, a litigation and interim finance firm, recently exited an interim finance deal...
Securitisation volume growth slows to 8% in third quarter in India
Securitisation volume for the third quarter grew ~8% on year to ~Rs 29,000 crore, lifting the cumulative value of deals...
Banks Gross NPAs may increase 120 bps to 8.1% by September ’22: RBI Financial Stability Report
Macro stress tests for credit risk indicate that the gross non-performing assets (NPAs) of Scheduled Commercial Banks (SCBs) may increase...
Amount involved in fresh bank frauds drops 56% in 2020-21
The number of fresh bank frauds as well as the amount involved in them saw a drastic fall in 2020-21,...