Stay updated with the latest default-finance news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on default-finance topics.
New Delhi, Jul 1 (PTI) Bangladesh made its single largest payment of USD 437 million in June, clearing pending dues, including carrying costs, and issues related to the power purchase agreement, reaffirming the Indian conglomerate's asset as a reliable and cost-competitive power source for meeting the country's growing energy needs, sources said. Bangladesh is now regular in payments. Additionally, an LC (Letter of Credit) worth about two months of billing and sovereign guarantee for all dues a ...Read More >
June 30 (Reuters) - India's final rules easing provisions for loans to under-construction infrastructure projects are likely to revive credit growth in the sector, Moody's Ratings said on Monday. The Reserve Bank of India earlier this month cut the provisioning requirement to 1% from a proposed 5%, a move expected to boost banks' willingness to fund infrastructure developments, Moody's said. "We expect the guidelines' finalization will reduce uncertainty in project financing and support medium ...Read More >
Warangal/Karimnagar: Muted salary growth, rising aspirations, higher costs, and financial mismanagement have become a deadly cocktail for the middle class people, especially salaried class, which is getting them sucked into a vortex of indebtedness. According to RBI, nearly a third of credit card users across India have either defaulted or made delayed payments in 2024. The surge in indebtedness is primarily driven by people's indiscriminate use of credit cards, which banks had issued easily to ...Read More >
Mumbai: The Enforcement Directorate (ED) has submitted a chargesheet against CA and financial consultant Amber Dalal and associates for alleged investor fraud through Ritz Consultancy Services. The court acknowledged the chargesheet in the last week. The probe stems from an FIR filed by Oshiwara police last March, accusing Dalal of swindling Rs 564 crore from 2,000 investors through a ponzi arrangement via Ritz Consultancy Services. Dalal collected funds by offering monthly returns of 1.5% to 1 ...Read More >
A total of 82 companies out of the top 100 bank defaulters of 2019, including some of the biggest companies run by prominent industrialists, landed in the National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code (IBC), 2016 and out of this, nearly one third of the companies went into liquidation over the years, suggesting banks would have hardly recouped any money, an investigation by The Indian Express reveals. Since the IBC framework came into being in 2016, creditors i.e. ba ...Read More >
New Delhi, Dec 10 (VOICE) The Enforcement Directorate (ED), in collaboration with Punjab National Bank (PNB) and ICICI Bank, has started restitution of properties linked to the Mehul Choksi bank fraud case, as part of its efforts to ensure that seized and attached assets are returned to rightful owners and victims of money laundering while enabling financial institutions to monetise these assets.The Special PMLA Court in Mumbai has approved the "monetisation of properties" amounting to Rs 2,565. ...Read More >
EXCLUSIVE TV newsman Seb Costello has been spotted with a colourful Married At First Sight personality just hours after being accused of assaulting an inner-city loan manager. Nine is formally reviewing allegations the A Current Affair star attacked the finance executive during a wild on-camera chase that ended in a women's lavatory this week, but has already indicated he retains the network's full support. It comes as private lending firm Oak Capital launched legal proceedings in the Supreme ...Read More >
Stay updated with the latest None news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on None topics.