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Lenders recover almost half of Rs.1.43 Lakh crore bad loans

Thursday, March 7, 2019, 9:44 AM

Lenders have recovered about half the defaulting advances of Rs.1.43 lakh crore stuck in 82 cases that have been resolved so far in the past two years, signalling that the Insolvency and Bankruptcy Code (IBC) has become increasingly effective in extricating funds from bad assets. "IBC has successfully injected an element of fear into truant promoters," said Manoj Kumar, partner, M&A-insolvency, Corporate Professionals.
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State-Run Banks Recover Rs. 98,000 Crore In April-December

Thursday, February 28, 2019, 3:18 PM

Banking Secretary Rajeev Kumar on Thursday said the PSU (Public sector undertaking) banks have recovered Rs. 98,000 crore in the first three quarters of the current financial year. The provision coverage ratio (PCR) of the banks for bad loans have also risen to 70% from 46% after the asset quality review (AQR) last year, he said at an event on banks' reforms journey.
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Banks Likely To Recover Bad Loans Worth Rs.70K Cr By March-End: FM

Thursday, January 3, 2019, 2:50 PM

Finance Minister Arun Jaitley said commercial banks were likely to recover 70,000 crore rupees of bad loans by the end of March, helped by resolution of 12 large cases. Some of the big cases such as Bhushan Power and Steel Ltd and Essar Steel India Ltd are in advanced stages of resolution, and are likely to be resolved in this financial year, Jaitley said.

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