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Irdai asks insurers to make provisions for IL&FS exposure

Thursday, January 31, 2019, 4:08 PM

Insurance companies will have to make provisions for their exposure to the crippled infra lender IL&FS, industry regulator Irdai said Thursday. The IL&FS group with a debt of over Rs 94,000 crore, has been defaulting on its financial obligations since August and has also borrowed from insurance companies, even though the exact exposure of the industry is not immediately known.
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Potato Farmer In UP's Kannauj Allegedly Kills Self Over Debt Of Rs.3L

Monday, December 10, 2018, 4:00 PM

A 50-year-old potato farmer in Uttar Pradesh's Kannauj allegedly killed himself by hanging, police said. He had a debt of over Rs.3L, they added. In a suicide note left by the farmer, he said that he was unable to repay his loan as his crop was damaged. The suicide note also mentions the district magistrate of Kannauj district. The incident happened in Siyarmau village.
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SpiceJet gives additional bank guarantee to airport operator, shares rise

Thursday, November 29, 2018, 7:46 PM

SpiceJet shares rose as much as 2.8% on Thursday after the low-cost carrier said it has provided an additional bank guarantee of 200 million rupees to state-owned Airports Authority of India for unpaid dues. SpiceJet owes the airport operator 1.17 billion rupees in unpaid dues for landing, parking and other airport-charges, according to media reports, against an existing bank guarantee of 1.04 billion rupees.

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