Asset reconstruction companies (ARCs) are asking the Reserve Bank of India (RBI) to review the recently prescribed norm that requires an independent advisory committee (IAC) […]
Category: Enterprise
Creditors’ recovery via IBC surges to 36% of admitted claims in FY23
Financial creditors’ recovery from defaulters surged to 36% of admitted claims in FY23 from 23% in the previous fiscal and 17% in FY21, as national […]
HDFC looks to sell Rs 2,000 crore stressed developer loans
Mortgage-lending pioneer Housing Development Finance Corp (HDFC) is making final attempts to offload stressed loans of around ₹2,000 crore extended to developers ahead of its […]
ACRE set to buy out SBI’s loans to road company in West Bengal
Ares SSG Capital-backed asset reconstruction company is set to acquire State Bank of India’s (SBI) road assets in an all-cash deal after eight-month-long negotiations, said […]
Go First’s bank loans to be classified as “bad”, but has strong collaterals
Lenders to Go Airlines (India) Ltd will classify their loans to the company as “non performing” in the current quarter, but are hopeful that the […]
Bank of Baroda launches electronic bank guarantee on its digital platform
State-owned Bank of Baroda on Wednesday announced the launch of electronic bank guarantee (e-BG) on its BarodaINSTA platform, in partnership with National E-Governance Services Limited […]
Canara Bank to spin off its credit card vertical into a separate subsidiary
State-owned Canara Bank is set to spin off its credit card vertical into a separate subsidiary while it has started preparing a roadmap for listing […]
Digital transactions on the rise, but banks ‘branch out’ to drive growth
Banks have brought the focus back on physical network expansion as they aggressively open branches belying expectations that growing digital transactions could reduce the dependence […]
UPI Lite has gained traction on Paytm, says fintech company
Fintech major Paytm has garnered six million customers within three months of the launch of UPI Lite on its payments app. Additionally, the company is […]
General Atlantic to deploy up to $1 billion a year in India
Growth-equity investor General Atlantic expects to deploy up to $1 billion in new investments in India annually for the next few years, betting on businesses […]