NPA cases worth Rs 8,000 cr likely to be resolved during this fiscal: IFCI
6 years, 3 months ago

NPA cases worth Rs 8,000 cr likely to be resolved during this fiscal: IFCI

India TV News  

State-owned IFCI has intensified its recovery process and expects resolution of several NPA cases worth Rs 8,000 crore during the course of the year, a top company official said. Earlier this year, IFCI saw recovery from resolution of various loan default cases, including Bhushan Steel, Monnet Ispat, Oswal Foods, Blue Coast Hotels and Rama Industries. Giving details of the future resolution pipeline, Rao said OTS negotiation in 12 accounts is expected to bring Rs 618 crore while sale of 26 NPA accounts with principal exposure of Rs 2,230 crore will also take place. Besides, other NPA cases with exposure of Rs 4,200 crore are at various stages of resolution through the NCLT under the Insolvency and Bankruptcy Code and Debt Recovery Tribunal.

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History of this topic

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’
2 years, 5 months ago

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’

The Hindu  

Concrete steps taken by the government and RBI helped banks recover bad loans worth more than ₹8.6 lakh crore in the last eight financial years, the government informed Parliament on Monday. Several factors - including prevailing macroeconomic conditions, sectoral issues, global business environment, delayed recognition of stress by banks, aggressive lending during upturns, improper risk pricing and poor credit underwriting …

Daily Bulletin: SC to hear Ayodhya case today; SC to hear Unnao case; India evaluates 'consular access' offer to Kulbhushan Jadhav; day's top stories
5 years, 5 months ago

Daily Bulletin: SC to hear Ayodhya case today; SC to hear Unnao case; India evaluates 'consular access' offer to Kulbhushan Jadhav; day's top stories

Firstpost  

The bench, which had perused a report about the progress of mediation process on Ayodhya dispute till 18 July, had said that its contents will remain confidential as per its earlier order. Ayodhya land dispute case: SC to consider mediation panel’s report at 2 pm, to fix day-to-day hearing schedule The Supreme Court is likely to consider on Friday the …

NPA issue: Will RBI's 12 February circular help expedite bad loan recovery? Signs indicate it is on right path
5 years, 10 months ago

NPA issue: Will RBI's 12 February circular help expedite bad loan recovery? Signs indicate it is on right path

Firstpost  

This smorgasbord of schemes didn’t even dent the NPA problem. In a way, 12 February, 2018 marked the end of an era best characterised by the late J Paul Getty, oil billionaire, who said, “When you owe the bank $100, it’s your problem; when you owe the bank $100 million, it’s the bank‘s problem”. Out of a total of more …

State Bank of India puts up 11 NPA accounts for sale to recover Rs 1,019 cr
6 years, 2 months ago

State Bank of India puts up 11 NPA accounts for sale to recover Rs 1,019 cr

India TV News  

SBI has put up 11 non-performing assets for sale to ARCs and financial companies to recover dues of nearly Rs 1,019 crore. Of these 11 accounts, Janki Corp Ltd has the highest outstanding dues of Rs 592.53 crore. Among others, Venus Remedies Ltd has to repay Rs 83.01 crore, SBS Transpole Logistics Pvt Ltd Rs 63.36 crore, R S Luth …

NPAs on a decline as loan recovery picking up, says Arun Jaitley after annual PSU banks' review meet
6 years, 3 months ago

NPAs on a decline as loan recovery picking up, says Arun Jaitley after annual PSU banks' review meet

Firstpost  

Jaitley said after the Insolvency and Bankruptcy Code came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up. New Delhi: Finance Minister Arun Jaitley on Tuesday said bad debts or NPAs in the banking system are on the decline as recoveries of unpaid loans have picked up. Speaking to reporters after the …

SBI to sell 8 bad loans to recover dues worth over ₹3,900 crore
6 years, 3 months ago

SBI to sell 8 bad loans to recover dues worth over ₹3,900 crore

Live Mint  

New Delhi: State Bank of India, the country’s largest lender, will sell eight non-performing assets to recover dues worth over ₹ 3,900 crore and has invited bids from asset reconstruction companies and financial institutions. Of the eight accounts on the block, Kolkata-based Rohit Ferro Tech has the highest loan outstanding against it at ₹ 1,320.37 crore, followed by Indian Steel …

SBI to sell 8 NPAs to recover dues worth over Rs 3,900 cr
6 years, 3 months ago

SBI to sell 8 NPAs to recover dues worth over Rs 3,900 cr

India TV News  

The country's largest lender State Bank of India will sell eight non-performing assets to recover dues worth over Rs 3,900 crore and has invited bids from asset reconstruction companies and financial institutions. Of the eight accounts on the block, Kolkata-based Rohit Ferro Tech has the highest loan outstanding against it at Rs 1,320.37 crore, followed by Indian Steel Corporation Ltd …

State Bank of India to sell 8 NPAs to recover dues worth over Rs 3,900 cr; invites bids from ARCs, FIs
6 years, 3 months ago

State Bank of India to sell 8 NPAs to recover dues worth over Rs 3,900 cr; invites bids from ARCs, FIs

Firstpost  

SBI has asked the interested ARCs/FIs to conduct the due diligence of these assets with immediate effect after submitting expression of interest and executing a non-disclosure agreement with the bank. New Delhi: The country’s largest lender State Bank of India will sell eight non-performing assets to recover dues worth over Rs 3,900 crore and has invited bids from asset reconstruction …

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