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Banks crack whip on debt rejig

Govt asks lenders to focus on all defaulters not just high-profile ones

Banks have given a stern message to companies under debt restructuring, especially steel firms: Shape up or ship out. The government has asked the lenders to focus on recoveries from all defaulters, and not just high-profile ones. An executive with a public sector bank said there were a few meetings, at State Bank of India (SBI) headquarters, where some accounts were reviewed as part of a two-day lenders' meeting that started on Monday. Kingfisher Airlines' accounts were not discussed. The accounts discussed included those of Bhushan Steel, Visa Steel, and Electrosteel ...

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Business Standard
177 22
Business Standard

Banks crack whip on debt rejig

Govt asks lenders to focus on all defaulters not just high-profile ones

Abhijit Lele  |  Mumbai 

Banks have given a stern message to companies under debt restructuring, especially steel firms: Shape up or ship out. The government has asked the lenders to focus on recoveries from all defaulters, and not just high-profile ones. An executive with a public sector bank said there were a few meetings, at State Bank of India (SBI) headquarters, where some accounts were reviewed as part of a two-day lenders' meeting that started on Monday. Kingfisher Airlines' accounts were not discussed. The accounts discussed included those of Bhushan Steel, Visa Steel, and Electrosteel ...

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Banks crack whip on debt rejig

Govt asks lenders to focus on all defaulters not just high-profile ones

Govt asks lenders to focus on all defaulters not just high-profile ones Banks have given a stern message to companies under debt restructuring, especially steel firms: Shape up or ship out. The government has asked the lenders to focus on recoveries from all defaulters, and not just high-profile ones. An executive with a public sector bank said there were a few meetings, at State Bank of India (SBI) headquarters, where some accounts were reviewed as part of a two-day lenders' meeting that started on Monday. Kingfisher Airlines' accounts were not discussed. The accounts discussed included those of Bhushan Steel, Visa Steel, and Electrosteel ... image
Business Standard
177 22

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