-NDTV/ PTI In response to a RTI query, the RBI released the names of top 50 with the highest amount of Loans written off New Delhi: Business tycoons Mehul Choksi, the Jhunjhunwala brothers, and Vijay Mallya are among the prominent individuals linked to companies named by the Reserve Bank of India (RBI) in a list of the top 50 wilful defaulters accused of scamming the country's banks. In a Right to Information or...
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Locked into the kilns, brick by brick -Varsha Bhargavi
-Ruralindiaonline.org Thousands of migrant workers from Odisha are stranded at Telangana's brick kilns – exploitative worksites made more difficult with the lockdown – and are running out of rations and desperate to return home “There is no lockdown inside the brick kiln. We have been working every day as usual,” said Hruday Parabhue, when we met him on April 5. “The only change is the weekly village market is closed, so we...
More »Finance Minister stipulates time frame for banks to disburse Loans; move comes as lenders turning risk averse -Manojit Saha
-The Hindu In a communication to State-run banks, the government said the move is aimed at ensuring credit flow for economic activities and the guidelines come into effect from Monday when the business activities resume. Mumbai: As business activities resumed on Monday after a nationwide lockdown, the Finance Ministry has swung into action to ensure credit flow to companies and prescribed a specific time frame for banks within which a loan needs...
More »Banks red-flag looming retail loan default, push for 6-month moratorium -George Mathew & Anil Sasi
-The Indian Express The extended lockdown across the manufacturing and services sectors, the resultant job losses along with the wave of salary cuts are projected to start impacting the repayment capacity of retail borrowers. Mumbai/ New Delhi: The possibility of loan defaults spilling over from the corporate sector to the retail segment, a key growth area for lenders in recent years, has been flagged as a growing concern by bankers at a...
More »Borrowers to be charged interest for 3-month moratorium period: RBI
-The Hindu RBI told banks that they could shift the repayment schedule for Loans and the residual tenor across the board by three months after the moratorium period. Banks which give borrowers a three-month moratorium on repayment of Loans will continue to charge interest on the outstanding portion of the Loans during this window period, the Reserve Bank of India clarified on Friday evening. The 3-month moratorium on repayment of Loans - including...
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