USFB received final approval to convert from a micro finance institution to a small finance bank in November 2016.
The bank had made a record Rs 13,417 crore loss in the quarter ended March 2018.
"Demonetisation, digitisation, the Bankruptcy Code and tax drives are just great examples of how strategic reforms are now more inclusive and more empowering," said Daniel Pinto.
Tight liquidity, high funding costs & consequently lower net interest margins may hurt finance firms
The NCLT Mumbai bench comprising B.M. Mohan and V. Nallasenapathy ruled that the investors have failed to satisfy their networth before the NCLT and hence there are no options left but to order the liquidation.
Ind-Ra expects NBFC NIMs to shrink to 6.2% in the fiscal ended March 2020 from its estimates of 6.7% in the current fiscal ending March 2019.
92% lenders to the steel company have voted in favour of ArcelorMittal's resolution plan on October 25.
Bad assets added at SBI, ICICI, Axis and BoB were at their lowest in many quarters.
However, the interim finance minister has not earmarked any capital outlay for the NPA-ladent NPAs.
In its interim budget, the government said it had failed to maintain fiscal deficit at 3.3% of GDP and had slipped to 3.4% in the fiscal year ending March 2019.
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