Mon, Mar 30, 2020
It's good news for companies going through insolvency under the Insolvency and Bankruptcy Code (IBC)! In a major relief , the Insolvency and Bankruptcy Board of India (IBBI) on Sunday said that the period of lockdown will not be counted within the timeline for resolution process.
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Mon, Nov 25, 2019
SBI on IBC Code: The insolvency and bankruptcy code (IBC) 2016 has met with much success in its short period of 3 years.
Sun, Nov 17, 2019
New IBC rules open doors for resolution of financial service providers. Watch this video to know more.
Mon, Jul 10, 2017
Looks like India's banking universe especially PSBs will continue to suffer with subdued earnings in Q1FY18.
Thu, Jul 06, 2017
Bhushan Steel Ltd reported a March-quarter loss that was much bigger than stated earlier in its unaudited results, as the debt-laden steelmaker was hurt by higher costs.
Wed, Jul 05, 2017
According to the norms, once the case is with the NCLT, the lenders or the banks need to set up a committee of creditors that will come up with a plan on how the asset will be tackled.
Thu, Jun 29, 2017
After RBI identified 12 accounts, Axis Bank said their exposure was in 8 accounts and 80% of the outstanding loan was secured.
Mon, Jun 26, 2017
RBI said, "The Internal Advisory Committee (IAC) recommended for IBC reference all accounts with fund and non-fund based outstanding amount greater than Rs 5000 crore, with 60% or more classified as non-performing by banks as of March 31, 2016. The IAC noted that under the recommended criterion, 12 accounts totaling about 25% of the current gross NPAs of the banking system would qualify for immediate reference under IBC."
Mon, May 22, 2017
The Reserve Bank is likely to announce within a fortnight the guidelines to operationalise NPA ordinance so as to expedite the recovery of bad loans which have crossed Rs 8 lakh crore.
Sun, May 14, 2017
According to a top official from IBBI, the government's Insolvency and Bankruptcy Code is likely to be operational in next three months.
Fri, Feb 03, 2017
For fiscal year 2015-16, the public sector banks had gross advances of Rs 51,04,915 crore, of which Rs 5,02,068 crore (9.83%) was categorised as gross non-performing assets (GNPA), cited Minister of State for Finance Santosh Gangwar in his written reply to Lok Sabha.
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