RBI’s revised debt resolution rules likely post-election
5 years, 8 months ago

RBI’s revised debt resolution rules likely post-election

Live Mint  

New Delhi: The RBI's revised stress assets resolution circular is likely to be out after the elections to clear the model code of conduct, and also the regulator may need time to have consultations with legal experts, industry and government before bringing the framework out, official sources said. As per the circular, banks were told to start the resolution process as soon as a borrower defaulted on a term loan and were given 180 days to cure it, failing which the account would have to be referred to the National Company Law Tribunal. While the new circular on debt resolution is still being discussed and debated, it is expected that RBI is likely to adopt a more accommodative approach towards resolution of stressed assets in the new circular. The revised circular on NPAs, however, is unlikely to include the pre-IBC restructuring tools like Strategic Debt Restructuring, Corporate Debt Restructuring, Sustainable Structuring of Stressed Assets or S4A that were phased out by RBI earlier.

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History of this topic

2024 year-end review: How legal precedents and IBC reforms reshaped India's financial system
2 weeks, 6 days ago

2024 year-end review: How legal precedents and IBC reforms reshaped India's financial system

Firstpost  

The Indian banking system has undergone significant changes in recent years, largely due to the growing economy and increased consumer spending. Recovery statistics and IBC The enactment of the Insolvency and Bankruptcy Code in 2016 marked a transformative change in India’s banking and corporate law, providing a responsive framework for reorganising distressed corporate debtors and maximising their value. Creditors have …

IBC data provides valuable insights to handle complex cases: M Rajeshwar Rao, Dy Governor RBI
3 weeks, 2 days ago

IBC data provides valuable insights to handle complex cases: M Rajeshwar Rao, Dy Governor RBI

Live Mint  

While acknowledging the substantial progress made in cleaning up banks' balance sheets, the Deputy Governor also underscored potential areas of improvement.The event brought together distinguished experts and practitioners from across jurisdictions to share insights and experiences in insolvency resolution.Suggesting the need to improve the overall resolution ecosystem, RBI DG stated that a better understanding of the reasons behind defaults are …

Insolvency process: RBI Deputy Guv pitches for enforceable code of conduct for CoC
1 month ago

Insolvency process: RBI Deputy Guv pitches for enforceable code of conduct for CoC

Live Mint  

New Delhi, Dec 7 Reserve Bank Deputy Governor M Rajeshwar Rao on Saturday pitched for an enforceable code of conduct for the Committee of Creditors under the insolvency resolution process. Even when the resolution plan is agreed upon, Rao said there have been instances of non-participation in the CoC meetings and a lack of effective engagement, coordination or information exchange …

IBBI proposes amendments to insolvency rules; seeks public comments
6 months, 2 weeks ago

IBBI proposes amendments to insolvency rules; seeks public comments

The Hindu  

The Insolvency and Bankruptcy Board of India has proposed amendments to the Insolvency Resolution Process for Corporate Process regulations, to enhance efficiency and reduce costs, and sought stakeholder inputs by July 10. These amendments are expected to enhance the efficiency and transparency of the Corporate Insolvency Resolution Process, and benefiting creditors and other stakeholders involved in the CIRP. Seeking comments …

NCLAT Delhi: Section 29A(C) Disqualifies Those Managing And Controlling Corporate Debtor Who Failed To Clear Debts
10 months ago

NCLAT Delhi: Section 29A(C) Disqualifies Those Managing And Controlling Corporate Debtor Who Failed To Clear Debts

Live Law  

The National Company Law Appellate Tribunal New Delhi, comprising Mr. Justice Ashok Bhushan and Mr. Barun Mitra held that Section 29A of Insolvency and Bankruptcy Code, 2016 disqualifies not only those in management and control of the Corporate Debtor when its account was declared Non-Performing Asset but also those in management and control of the Corporate Debtor in close proximity …

NCLT Kolkata: Revival Of Corporate Debtor Is Primary Goal Of Resolution Plan And Going Concern Sale
11 months, 2 weeks ago

NCLT Kolkata: Revival Of Corporate Debtor Is Primary Goal Of Resolution Plan And Going Concern Sale

Live Law  

The National Company Law Tribunal Kolkata, comprising Justice Rohit Kapoor and Mr. Balraj Joshi held that the primary goal of Resolution Plan as well as the sale of a Corporate Debtor as a going concern remains the same i.e revival of the Corporate Debtor's business. NCLT Verdict: The NCLT Kolkata allowed the application and held that the primary goal of …

Wilful default: RBI to tweak rules to give lenders flexibility in handling cases
1 year ago

Wilful default: RBI to tweak rules to give lenders flexibility in handling cases

Live Mint  

New Delhi: Lenders may get more flexibility in dealing with potential wilful defaulters as the central bank may make in-person hearings with borrowers mandatory at the time of identifying a loan account as stressed, two persons aware of the development said. A Supreme Court order in March regarding RBI’s 2016 circular on wilful defaults had said that borrowers should get …

RBI clears resolution plan for debt-ridden Reliance Capital
1 year, 1 month ago

RBI clears resolution plan for debt-ridden Reliance Capital

The Hindu  

The Reserve Bank of India on November 17 approved the resolution plan for debt-ridden Reliance Capital. This is to inform you that the Administrator of Reliance Capital Limited is in receipt of “No objection” vide letter dated November 17, 2023, from the Reserve Bank of India, the company said in a regulatory filing. IIHL had emerged as the highest bidder …

Why Centre should prioritise IBC's alignment with other laws
1 year, 3 months ago

Why Centre should prioritise IBC's alignment with other laws

Firstpost  

The Indian Bankruptcy Code provides a comprehensive legal framework but does not eliminate the need for approvals from regulators and government bodies like CCI, RBI, SEBI, and others when resolution plans include their jurisdiction India currently ranks as the fifth largest economy and is projected to become the third largest economy by 2030. The IBC in India has witnessed numerous …

Should Banks Inform Borrowers About Changes In Interest Rates, Give Annual Loan Statements? Supreme Court Asks RBI
1 year, 3 months ago

Should Banks Inform Borrowers About Changes In Interest Rates, Give Annual Loan Statements? Supreme Court Asks RBI

Live Law  

The Supreme Court of India on Monday requested the Reserve Bank of India to submit an affidavit clarifying its directives concerning banks’ obligations to borrowers. A bench of Justices Sanjiv Khanna and SVN Bhatti was hearing a special leave petition filed by the Punjab National Bank against an August 2022 decision of the Punjab and Haryana High Court quashing a …

IBBI seeks changes to empower investors
1 year, 7 months ago

IBBI seeks changes to empower investors

Live Mint  

NEW DELHI : The Insolvency and Bankruptcy Board of India has proposed a series of changes to its regulations, including an important new voting method on bids from investors for bankrupt companies which would allow creditors to rank their preferences rather than merely vote in favour or against bids. In a discussion paper published on Wednesday, IBBI also proposed that …

Ministry Of Corporate Affairs Invites Public Comments On Proposed Changes In IBC
1 year, 11 months ago

Ministry Of Corporate Affairs Invites Public Comments On Proposed Changes In IBC

Live Law  

The Ministry of Corporate Affairs, Government of India, has issued a circular inviting comments from the public on the changes proposed to be made in the Insolvency and Bankruptcy Code, 2016. Proposed Amendments In a circular issued on 18.01.2023, the Ministry of Corporate Affairs has proposed numerous changes in IBC, including the following: Mandatory to admit Section 7 application where …

On Approval Of Plan By MSME Directors, They Will Be Treated As New Owners: NCLT Mumbai
2 years, 3 months ago

On Approval Of Plan By MSME Directors, They Will Be Treated As New Owners: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising of Justice P.N. Ltd., has held that once the resolution plan submitted by MSME Corporate Debtor's promoters/directors is approved by the Adjudicating Authority, the ownership of the Corporate Debtor shall be considered as fresh, even if the directors/promoters remain the same. Therefore, the SRA filed an application against Union Bank of India …

RP And COC Can Request Resolution Plan For A Second Time; IBBI Notification
2 years, 3 months ago

RP And COC Can Request Resolution Plan For A Second Time; IBBI Notification

Live Law  

The Insolvency and Bankruptcy Board of India has amended the IBBI Regulations, 2016 for a fourth time and has notified the amendment on 16.09.2022. Changes Brought By The Amendment With the objective to maximise value in resolution, the amendment enables the resolution professional and the Committee of creditors to issue request for resolution plan a second time for sale of …

Declaring NPA And Wilful Defaulter: A Banker's Obligation
2 years, 5 months ago

Declaring NPA And Wilful Defaulter: A Banker's Obligation

Live Law  

Banks are evaluated on their standard of assets as well as their number of branches and deposit volume. Vs. Union of India & Anr., the High Court of Delhi relying on the findings of the Supreme Court in the matter of Mardia Chemicals Ltd. v Union of India 4 SCC 311, held that declaring an asset as NPA is not …

IBBI Amends Its Regulations On Information Utilities
2 years, 6 months ago

IBBI Amends Its Regulations On Information Utilities

Live Law  

The Insolvency and Bankruptcy Board of India has introduced second round of amendments to the Insolvency and Bankruptcy Board of India Regulations, 2017 vide a notification dated 14.06.2022, bearing No. Few prominent amendments as per the Notification dated 14.06.2022 are listed as follows: Before filing an application to initiate Corporate Insolvency Resolution Process under Section 7 or 9 of the …

IBBI Rescinds Its Previous Circulars
2 years, 7 months ago

IBBI Rescinds Its Previous Circulars

Live Law  

The Insolvency and Bankruptcy Board of India vide its circular dated 23.05.2022 has rescinded various earlier circulars issued by IBBI by exercising its power under Section 196 of the Insolvency and Bankruptcy Code, 2016. As per circular dated 23.05.2022, IBBI conducted an exercise of review of its circulars and withdrew its earlier circulars as these circulars are no longer required …

Deep haircuts: Comparing realisations with outstanding loans not reasonable to assess IBC effectiveness, says RBI DG
2 years, 8 months ago

Deep haircuts: Comparing realisations with outstanding loans not reasonable to assess IBC effectiveness, says RBI DG

The Hindu  

Comparing outstanding loan amounts with the value realised may not be a 'reasonable indicator' to assess the bankruptcy law's effectiveness, said Reserve Bank Deputy Governor M. Rajeshwar Rao, while seeking to address concerns over deep haircuts that banks had taken in some of the insolvency resolutions plans. "Rather, the resolution values must be compared with the next best alternative for …

Need framework to study impact of insolvency law: Corporate Affairs Secretary
2 years, 8 months ago

Need framework to study impact of insolvency law: Corporate Affairs Secretary

The Hindu  

Amid concerns in certain quarters that the insolvency law has led to more liquidations than resolutions of stressed assets, Corporate Affairs Secretary Rajesh Verma on Saturday, April 30, 2022, pitched for having a framework to study the impact of the legislation. There is presently no framework to track the outcome of insolvency and bankruptcy regime.it is crucial to continue to …

Borrower Can't Claim Loan Moratorium As A Right Based On RBI's Circular Of March 2020 : Karnataka High Court
2 years, 11 months ago

Borrower Can't Claim Loan Moratorium As A Right Based On RBI's Circular Of March 2020 : Karnataka High Court

Live Law  

The Karnataka High Court recently set aside the directionsissued to Reserve Bank of India by a single judge bench of the High Court directing it to monitor the implementation of Covid-19 package announced on March 27, 20202, by which RBI had allowed Banks to declare a three-month moratorium on all term loans, outstanding as on March 1, 2020. Senior Advocate …

Budget 2022: Amendments in Insolvency and Bankruptcy Code Likely for Faster Resolution
2 years, 11 months ago

Budget 2022: Amendments in Insolvency and Bankruptcy Code Likely for Faster Resolution

News 18  

Budget 2022 Expectations: The Union Budget session is set to start from January 31 and Union finance minister Nirmala Sitharaman will present the Budget on February 1, the ministry of parliament affairs said in a statement on Friday, January 14. This year, among many other key decisions, the government is likely to take up the Insolvency and Bankruptcy Code amendment …

Corporate India needs a proactive mindset for debt resolution
3 years ago

Corporate India needs a proactive mindset for debt resolution

Live Mint  

Over the years, concerted efforts have been made to determine and resolve non-performing assets of banks and financial institutions in our country. As per the RBI’s March Financial Stability Report, gross NPAs are expected to be slightly elevated at around 11.22% of overall credit deployment by March 2022 for all scheduled commercial banks. In an effort to trim NPAs, a …

RBI appoints advisory panel to assist R-Cap administrator
3 years, 1 month ago

RBI appoints advisory panel to assist R-Cap administrator

Deccan Chronicle  

Mumbai: A day after it superseded the board of Anil Ambani group’s Reliance Capital, the Reserve Bank of India on Tuesday appointed a three-member advisory committee to assist the administrator of Reliance Capital. The members of the committee are Sanjeev Nautiyal, ex-deputy managing director, State Bank of India; Srini-vasan Varadarajan, ex-deputy MD, Axis Bank; and Praveen P. Kadle, ex-MD & …

DHFL creditors reject plan to give FD holders more
3 years, 6 months ago

DHFL creditors reject plan to give FD holders more

Hindustan Times  

The committee of creditors to Dewan Housing Finance Corp. Ltd has overwhelmingly rejected a proposal to increase recoveries for smaller investors, including fixed deposit and debenture holders. Meanwhile, fixed depositors plan to challenge the approval of the Piramal group’s resolution plan in the National Company Law Appellate Tribunal. Lenders rejected the proposal with a majority of 89.19% at Tuesday’s vote, …

Budget 2021: MSMEs as the driver for Atmanirbhar Bharat
3 years, 11 months ago

Budget 2021: MSMEs as the driver for Atmanirbhar Bharat

News 18  

The Budget speech of the finance minister makes a declaration in para 82 that the government will “ensure faster resolution of cases”. Towards this end, the FM has announced that “NCLT framework will be strengthened, e-Courts system shall be implemented and alternate methods of debt resolution and special framework for MSMEs shall be introduced”. Unravelling the NCLT and IBC-related proposal …

Loan Moratorium- Resolution Framework For COVID-Related Stress More Restrictive Than Prudential Norms For Normal Times: SC Told
4 years ago

Loan Moratorium- Resolution Framework For COVID-Related Stress More Restrictive Than Prudential Norms For Normal Times: SC Told

Live Law  

Senior Advocate Ravindra Srivastava, for the group, told the bench of Justices Ashok Bhushan, R. Subhash Reddy and M. R. Shah that the banks are "prevailing over" the government and the RBI and "making huge profits". Mr. Srivastava argued that while the Kamath committee had mentioned 26 sectors as having been severely-impacted during the Covid pandemic, the waiver of compound …

Loan Moratorium Case- No Requirement Of Specific Resolution Plan For Borrowers For Invocation Of Resolution Framework: RBI Tells Supreme Court
4 years ago

Loan Moratorium Case- No Requirement Of Specific Resolution Plan For Borrowers For Invocation Of Resolution Framework: RBI Tells Supreme Court

Live Law  

Reserve Bank of India has informed the Top Court that borrowers opting for resolution of COVID-related stressed loans shall not be required to submit any specific plans. RBI has stated that borrowers may invoke resolution framework by submitting a request to the lending institutions.The Resolution Framework does not require any resolution plan in any form to be submitted to the. …

Relief on loans up to ₹2 crore addresses borrowers’ distress, RBI tells Supreme Court
4 years, 3 months ago

Relief on loans up to ₹2 crore addresses borrowers’ distress, RBI tells Supreme Court

The Hindu  

The Reserve Bank of India has told the Supreme Court that the Centre’s resolve to shoulder the cost of ‘interest on interest’ for MSME loans and personal loans up to ₹2 crore addresses pandemic-induced financial distress among borrowers. The central bank reasoned that a complete waiver, on the other hand, of compound interest chargeable during the six-month moratorium would destabilise …

The Insolvency And Bankruptcy Code (Amendment) Ordinance, 2020 And Remedies Available To Creditors
4 years, 3 months ago

The Insolvency And Bankruptcy Code (Amendment) Ordinance, 2020 And Remedies Available To Creditors

Live Law  

The speculations over altering the operation of Insolvency and Bankruptcy Code, 2016 have been doing rounds since the outbreak of COVID-19. Section 10 A introduced in the principal act in effect suspends initiation of corporate insolvency resolution process contained under Section 7 which empowers a financial creditor to initiate it, Section 9 initiation by operational creditors and Section 10 initiation …

Debt resolution framework: A balance of relief and rigour
4 years, 4 months ago

Debt resolution framework: A balance of relief and rigour

Live Mint  

The Reserve Bank of India struck a balance between relief and rigour in its resolution framework for covid-related stress issued on 6 August 2020, giving businesses affected by the exogenous shock of covid a necessary reprieve by permitting restructuring without requiring change of control, while also creating strict boundary conditions for such restructuring. The central bank has prescribed five parameters …

RBI loan restructuring plan | A difficult choice for borrowers
4 years, 4 months ago

RBI loan restructuring plan | A difficult choice for borrowers

The Hindu  

The moratorium offered by banks and other institutional lenders ended last month. In this scenario, the Reserve Bank of India has announced a loan restructuring plan to offer relief to impacted borrowers, who may struggle to repay their debt over the short term, at least. Also, unlike the moratorium on term loans that was open for all, only those borrowers …

FM Nirmala Sitharaman to Meet Heads of Banks, NBFCs on Loan Recast Today
4 years, 4 months ago

FM Nirmala Sitharaman to Meet Heads of Banks, NBFCs on Loan Recast Today

News 18  

Finance Minister Nirmala Sitharaman will hold a review meeting with heads of banks and NBFCs on Thursday for smooth and speedy implementation of the one-time debt recast for resolution of COVID-19 related stress in bank loans. Besides assessing the preparedness of banks on the debt recast, sources said, the meeting will also review the progress of various schemes announced under …

Finance Minister Sitharaman to meet heads of banks, NBFCs on loan recast on Thursday
4 years, 4 months ago

Finance Minister Sitharaman to meet heads of banks, NBFCs on loan recast on Thursday

India TV News  

Finance Minister Nirmala Sitharaman will hold a review meeting with heads of banks and NBFCs on Thursday for smooth and speedy implementation of the one-time debt recast for resolution of COVID-19 related stress in bank loans. Besides assessing the preparedness of banks on the debt recast, sources said, the meeting will also review the progress of various schemes announced under …

FM Sitharaman to meet bankers on loan recast on Thursday
4 years, 4 months ago

FM Sitharaman to meet bankers on loan recast on Thursday

The Hindu  

Ahead of the roll out of one-time debt recast for resolution of COVID-19 related stress in bank loans, Finance Minister Nirmala Sitharaman will hold a review meeting with bankers and heads of non-banking financial companies on September 3 for smooth and speedy implementation of the scheme. “The review will focus on enabling businesses and households to avail of the revival …

'The Unfinished Agenda': Viral Acharya on the Need For a 'Concrete' Plan to Restore the Health of PSBs
4 years, 5 months ago

'The Unfinished Agenda': Viral Acharya on the Need For a 'Concrete' Plan to Restore the Health of PSBs

News 18  

Former RBI deputy governor Viral Acharya's latest book, Quest For Restoring Financial Stability In India, uses the Japanese asset price bubble burst of 1992 and the European debt crisis, and their subsequent impacts on the respective banking sectors as lessons for the Indian banking sector, which, according to Acharya is going through a 'silent crisis'. In the book, Acharya first …

Opinion | Evolving Resolution Landscape : IBC and outside
4 years, 7 months ago

Opinion | Evolving Resolution Landscape : IBC and outside

Live Mint  

David Skeel, Professor at University of Pennsylvania writing in the Wall Street Journal spoke of the burgeoning rise in bankruptcies that are likely to follow in the wake of COVID 19 and The Great Lockdown and the need “Flatten the Bankruptcy Curve”. The suspension of IBC will necessitate a creative evolution of the resolution landscape- deploying existing legal tools as …

Plea Seeking Extension of The Benefits Of RBI Circular on Loan Moratorium To All NBFCs: SC Issues Notice
4 years, 7 months ago

Plea Seeking Extension of The Benefits Of RBI Circular on Loan Moratorium To All NBFCs: SC Issues Notice

Live Law  

The Supreme Court has issued notice to the Centre and Reserve Bank of India in a plea by The Confederation of Real Estate Developers' Associations of India which sought for clarification regarding whether all NBFCs were eligible for loan moratorium or whether banks had the discretion to give the benefit. On March 27, in wake of the COVID-19 pandemic and …

Opinion | Can the insolvency code handle the aftermath of the corona crisis?
4 years, 8 months ago

Opinion | Can the insolvency code handle the aftermath of the corona crisis?

Live Mint  

The lockdown, occasioned by the spread of the novel coronavirus, is causing significant stress for Indian business. While much depends on how things pan out in the next few months, here are some pressing issues: Insolvency resolution traffic jam: According to Injeti Srinivas, corporate affairs secretary, since the commencement of the IBC and setting up of the National Company Law …

Indiabulls Moves Delhi HC Against SIDBI, Says Loan Installments Can't Be Demanded In Light of Moratorium Imposed by RBI [Read Order]
4 years, 9 months ago

Indiabulls Moves Delhi HC Against SIDBI, Says Loan Installments Can't Be Demanded In Light of Moratorium Imposed by RBI [Read Order]

Live Law  

Indiabulls Commercial Credit Limited has moved the Delhi High Court challenging the demands for loan installments made by Small Industries Development Bank of India. He further submitted that the loan instalment of Rs.31,94,79,453/- for the month of March was duly paid on 09.03.2020, whereafter due to the onset of the pandemic of COVID19 and the subsequent lockdown in the country, …

NCLT Admits RBI's Petition Seeking Initiation Of Corporate Insolvency Resolution Process Against DHFL [Read Order]
5 years, 1 month ago

NCLT Admits RBI's Petition Seeking Initiation Of Corporate Insolvency Resolution Process Against DHFL [Read Order]

Live Law  

The National Company Law Tribunal on Tuesday admitted a petition filed by the Reserve Bank of India seeking to initiate Corporate Insolvency Resolution Process against the crisis hit Dewan Housing Finance Corporation Ltd, a Financial Service Provider under the Insolvency & Bankruptcy Code, 2016. NS Venkatesh, Chief Executive, Association of Mutual Funds in India RBI had enclosed several evidences to …

RBI forms advisory committee to assist DHFL in bankruptcy proceedings
5 years, 1 month ago

RBI forms advisory committee to assist DHFL in bankruptcy proceedings

The Hindu  

The Reserve Bank of India has formed a three-member advisory committee to assist the administrator of troubled mortgage lender DHFL. Venkatesh, Chief Executive, Association of Mutual Funds in India, are part of the advisory committee Earlier the RBI had superceded the Board of the home financier and appointed former MD&CEO of Indian Overseas Bank, R Subramaniakumar, as the Administrator. “The …

New resolution professional of Videocon seeks EoIs for 13 companies under IBC
5 years, 2 months ago

New resolution professional of Videocon seeks EoIs for 13 companies under IBC

Live Mint  

The newly-appointed resolution professional for the Videocon group has sought expressions of interest for 13 group companies undergoing resolution using the Insolvency and Bankruptcy Code, according to a document seeking bids. Claims of financial creditors Videocon Telecommunication Ltd, another group entity, was at ₹26,673.81 crore, with SBI being the largest claimant at ₹4,605.15 crore, as on 12 November, 2018. These …

Submit pending dues from HDIL by September 8, NCLT to lenders
5 years, 4 months ago

Submit pending dues from HDIL by September 8, NCLT to lenders

India TV News  

The National Company Law Tribunal has ordered corporate insolvency resolution process of debt-ridden real estate major Housing Development and Infrastructure Ltd, asking the lenders to submit their dues claims by September 8. HDIL shares traded at Rs 5.84 apiece on BSE at 3 p.m. On August 21, its shares had plunged a huge 20 per cent to hit an all-time …

RBI's norms to give more headroom to lenders to resolve big ticket NPAs: Report
5 years, 6 months ago

RBI's norms to give more headroom to lenders to resolve big ticket NPAs: Report

India TV News  

Reserve Bank's new guidelines to deal with bad loans will provide lenders the headroom and flexibility for resolution of large ticket stressed asset cases under the Insolvency and Bankruptcy Code, according to a report. "A better time frame and transition offered in the revised framework on this would allow the lenders the headroom and flexibility for resolution in large ticket …

RBI's norms to give more headroom and flexibility to lenders to resolve big ticket NPAs: Report
5 years, 6 months ago

RBI's norms to give more headroom and flexibility to lenders to resolve big ticket NPAs: Report

Firstpost  

RBI came out with a revised prudential framework for resolution of stressed assets after its February 2018 circular in this regard was struck down by the Supreme Court. New Delhi: Reserve Bank’s new guidelines to deal with bad loans will provide lenders the headroom and flexibility for resolution of large ticket stressed asset cases under the Insolvency and Bankruptcy Code, …

RBI's new framework to expedite resolution of stressed assets: Sashakt committee on bad loans
5 years, 6 months ago

RBI's new framework to expedite resolution of stressed assets: Sashakt committee on bad loans

Firstpost  

The Reserve Bank on Friday had replaced a tough norm on NPA categorisation by lenders, as it was quashed by the Supreme Court in April New Delhi: The mandatory norm of inter-creditor agreement allows banks to decide resolution strategy outside the IBC and it will help lenders to accelerate process to resolve stressed assets, Sashakt committee on bad loans said …

'RBI's new framework to expedite resolution of stressed assets'
5 years, 6 months ago

'RBI's new framework to expedite resolution of stressed assets'

India TV News  

The mandatory norm of inter-creditor agreement allows banks to decide resolution strategy outside the IBC and it will help lenders to accelerate process to resolve stressed assets, Sashakt committee on bad loans said Monday. "The requirement of entering into the Inter-Creditor Agreement is an endorsement by the RBI of the need for the lenders to have a framework for resolution …

RBI’s new prudential framework for stressed asset resolution credit positive: Moody’s
5 years, 7 months ago

RBI’s new prudential framework for stressed asset resolution credit positive: Moody’s

India TV News  

Moody’s Investors Service Monday said the Reserve Bank's new prudential framework for stressed asset resolution is ‘credit positive’, but flagged the slower-than-expected progress of resolution under Insolvency and Bankruptcy Code as a key hurdle. “The RBI’s revised framework for the resolution of stressed assets is credit positive, because it brings back the focus on the need for the timely resolution …

RBI revises prudential norms for NPAs, gives banks 30 days to review stressed loans
5 years, 7 months ago

RBI revises prudential norms for NPAs, gives banks 30 days to review stressed loans

ABP News  

New Delhi: The Reserve Bank of India on Friday issued new guidelines for dealing with non-performing assets after the Supreme Court quashed its February 12, 2018, circular, which had mandated the lenders to start resolution even in case of one-day default, leading to huge protests from various quarters, particularly defaulters from the power sector. Lenders shall recognise incipient stress in …

RBI to issue revised NPA circular in 3-4 days: Shaktikanta Das
5 years, 7 months ago

RBI to issue revised NPA circular in 3-4 days: Shaktikanta Das

Live Mint  

Mumbai: Reserve Bank of India Governor Shaktikanta Das on Thursday said the RBI will issue a new circular on non-performing assets in three to four days. After the previous monetary policy meet in April, Das had told reporters that the central bank will take necessary steps including the issuance of a revised circular "as may be necessary for the effective …

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