The central bank’s June 7 circular requires banks to put in place ICAs within a month of the review period.
India’s insolvency resolution framework has truly arrived after a tortuous journey of three years. Banks will finally be able to keep out unscrupulous promoters with the law establishing the primacy of financial lenders on asset proceeds.
These companies together hold a lot of cross-business opportunities for CSB.
Commercial paper issuances were at ₹57,065 crore in October 2019, as per data with Prime Database.
India’s economy and businesses are facing many measurable, well-understood challenges. But an invisible crisis that is just as corrosive and harder to fix is underway: the erosion of trust. This is playing out at multiple levels.
Almost 830 days after it was sent to IBC, the SC paved the way for the steelmaker's eventual resolution.
Voda Idea’s top management has cautioned lenders that timely repayments may not be possible without govt relief
KKR, TPG and Bain sign non-disclosure pacts with CDEL; Louis Dreyfus may also join race.
Top officials of SBI and Investec held talks recently, but the structure of the deal could not be ascertained.
Lack of clarity on whether to treat the transactions between the banks and NBFCs as ‘securitisation’ deals or as ‘pass-through certificates’ (PTC) is also impeding any movement, given that these have accounting implications. While ‘securitisation’ allows the entire profit to be booked upfront, in a PTC the profits must be booked over the tenor of the loan.
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