Bad loan aggregator managed to sell more than 1500 properties across the country last fiscal.
Loans to the telecom sector may not slip in the near term, hope banks.
About 62 per cent of these recoveries went back to banks from where these assets were bought in exchange of security receipts.
As per Department of Telecom’s (DoT) calculations submitted to the SC on July 15, telecom companies owed nearly Rs 93,000 crore in license fees, penalties and interest.
ONGC launched a $2 billion medium-term note programme in August.
Capital adequacy at 13.59 per cent was higher than required as of September.
Fairfax's shareholding in Catholic Syrian Bank will come down from 50.09% to 49.74% after IPO.
With some respite after the curtains were drawn on the Essar Steel case, banks are still not breathing easy. Troubled Airtel and Vodafone-Idea posted record losses after the AGR ruling, which might keep profits of banks under check. RBI data show that banks have a Rs 1.15 lakh crore exposure to telecommunications as of Sept 2019, up 25% from a year ago.
In a notification on November 15, the ministry of corporate affairs (MCA) included personal guarantees on corporate loans under the bankruptcy code effective from December 1. The promoters who have given personal guarantees include Jet Airways founder Naresh Goyal & The Ruia family which just last week lost its Rs 42,000 crore battle to keep Essar Steel.
In hindsight, it might be termed irrational exuberance.
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