Friday, 20 October, 2017
Update
   Govt hikes salary of GMC lecturers from 55k - 95k & Assistant Lecturers from 45k to 80k per month   CM Parrikar asks RTO clarification on dumping important documents on roadside, to file case for dumping garbage on highway   RTO'S MAKESHIFT OFFICE ALONG THE OLD GOA BY-PASS ROAD   Sign lease pacts with CCP at the earliest: Mayor to market tenants   ST strike: KTC suspends bus trips to Maharshtra   Goan disability activist wins national award   First pvt ferry services to begin from Nov   Late rains, chocked drains spell doom for farmers in Aldona

RBI preparing list of top loan defaulters, says Jaitley

Union Finance Minister Arun Jaitley said on Monday that the Reserve Bank of India (RBI) was at “a fairly advanced stage” of preparing a list of borrowers where non-performing assets (NPAs) of public sector banks could be recovered under the Insolvency and Bankruptcy Code.

Story: PT | 13th June 2017, 04:56 Hrs

NEW DELHI
The move, he said, would help beleaguered public sector banks (PSBs) recover part of their NPAs, estimated at over Rs 6 lakh crore. 
Jaitley’s remarks came after a meeting with the heads of PSBs who took stock of problems affecting the lenders.   
“Under the new Ordinance, RBI is at a fairly advanced stage of preparing a list of those debtors where a resolution is required through the Insolvency and Bankruptcy Code (IBC) process. You will be shortly hearing about it,” he said.
The Centre issued an Ordinance last month empowering the RBI to recover mounting NPAs of state-owned banks allowing it to  initiate insolvency resolution proceedings for bankruptcy code cases and recover bad loans. 
About 81 cases have already been filed under the Code. Out of these 18 cases have been initiated by financial creditors.

Related news

Why is Goa not becoming an export hub?

Despite having Dabolim Airport and Mormugao Port Trust (MPT) for decades, Goa has not been able to become an export hub, as even local manufacturers prefer to export their products through airports and seaports in other states of India Read more

Top News

Bastora underpass to miss yet another deadline

The overbridge along NH17 cum underpass at Bastora was expected to be thrown open by Dec-end; New deadline set for March 2018 Read more

Govt unveils one-time benefit scheme for freedom fighters

Applicants to be settled after written undertaking n Freedom fighters once settled will not be eligible for pension Read more