Bad loans worth Rs 1 lakh crore may hit courts soon
Friday, January 3, 2020, 5:23 PM
Bad assets worth Rs.1L-crore may hit the insolvency courts in a month as the January 7 deadline for finding out-of-court resolutions expires. Resolutions have been stalled because some banks have not yet signed the inter-creditor agreement (ICA) and disagreements on the terms between private and public-sector banks (PSBs). "Some banks are choosing to not sign the ICA," said the source.
Gross NPA ratio improves to 9.1 as of Sept end: RBI
Tuesday, December 24, 2019, 8:38 PM
As bad loan recognition process nears completion, gross non-performing loans of banks improved to 9.1% as of end-September 2019, compared to 11.2% in FY18, says an RBI report. Net NPAs of all commercial-banks reduced to 3.7% in FY19 as against 6% in FY18. Decline in the slippage ratio, as-well-as a reduction in outstanding gross NPAs, helped in improving the GNPA ratio, the report said.
Vijay Mallya Faces Bankruptcy Over Rs 10,000 Crores In Debt
Wednesday, December 11, 2019, 3:42 PM
Twelve state-owned Indian banks are petitioning for ex-billionaire Vijay Mallya to be declared bankrupt over Rs.10,000-crore in unpaid debts. The banks and an asset restructuring company, led by the SBI, have taken the tycoon to a London court in what lawyers have described as "the end of the road" in their long-running battle. Mallya hasn't paid anything toward the debt, the banks' lawyers told.