Insolvency law aims at saving promoters not banishing them: Finance Minister
Addressing a CCI-summit on insolvency and bankruptcy here on Saturday, he said the law now sides more with the lenders, as the slew of changes in the existing laws is aimed at speeding up the NPA resolution.
Aug 19, 2017, 19:27 PM IST
NPA resolution not to liquidate companies, but to help save them: Finance Minister
Explaining the rationale for the new insolvency and bankruptcy code (IBC), he said, this was necessitated by the failure of debt recovery tribunals to effectively perform their duty after the initial success.
Aug 19, 2017, 13:43 PM IST
NPA resolution: RBI chief calls for recapitalisation of banks
Reserve Bank Governor Urjit Patel on Saturday called for recapitalisation of state-run banks to help them resolve the NPAs issue in a time-bond manner as bad loans at 9.6 percent of the system is not acceptable.
Aug 19, 2017, 13:14 PM IST
RBI to reconstitute oversight committee to deal with bad loans
After central government armed it with additional powers to resolve bad loans with banks that have crossed Rs 8 lakh crore, the RBI on Monday decided to reconstitute the oversight committee with more members.
May 22, 2017, 22:53 PM IST
NPA norms welcome, will force decisions: Axis' Shikha Sharma
Axis Bank MD and CEO Shikha Sharma today welcomed changes in NPA resolution as moves that will "force" decisions by cutting layers, and also said the bank is looking for one more life insurance distribution tie-up.
May 11, 2017, 16:44 PM IST