-The Telegraph Nagpur: A special investigation team will probe the alleged harassment of poor women borrowers in Maharashtra by loan recovery agents of micro-finance institutions, the state government announced today after month-long street protests and an Assembly debate. Junior home minister Deepak Kesarkar assured an agitated Assembly that the state was considering a law similar to one Andhra Pradesh had enacted in 2011 to regulate the MFIs' lending and loan recovery practices. About...
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SBI writes off loans of 63 wilful defaulters -Dipu Rai
-DNA India's largest public sector bank has dropped more than Rs 7,000 crore, more than 80 per cent of the amount owed to it by its top 100 defaulters, into the Advance Under Collection Account (AUCA) bin for toxic loans With efforts to recover its dues hitting a virtual dead-end, the State Bank of India (SBI) seems to be have started a clean-up of its balance sheets by writing off loans...
More »Make default list public: SC
-The Telegraph/ PTI New Delhi: The Supreme Court today asked the Centre and the RBI to disclose the names of borrowers who had each defaulted on public-sector bank loans of Rs 500 crore and above but the apex bank raised objections. The top court, after going through the defaulters' list submitted by the RBI in a sealed cover on March 29, said 57 people had defaulted on loans worth Rs 85,000 crore...
More »Builders can be arrested for not delivering: National Consumer Commission -Utkarsh Anand
-The Indian Express The NCC held that it is for the presiding member of the consumer forum to choose either of the methods to ensure its orders are not breached. New Delhi: IN A stern message to all builders, the National Consumer Commission (NCC) has held that officials of real estate firms can be arrested for failing to hand over flats or make refunds on time. Last week, the Commission bench, presided...
More »Gujarat in food security act default
-The Telegraph New Delhi: Eight states or Union territories, including the Prime Minister's home state Gujarat, have not yet implemented the National Food Security Act, 2013, the Supreme Court was informed yesterday. Tamil Nadu, Kerala, Nagaland, Mizoram, Manipur, Arunachal Pradesh and Dadra and Nagar Haveli are the other defaulters. The law aims to provide up to 75 per cent of the rural population and up to 50 per cent of the urban population...
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