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Regulator IBBI has proposed changes to the norms governing the insolvency resolution process for personal guarantors to corporate debtors, including the exclusion of related parties of the guarantor from voting on the repayment plan. Besides, the watchdog plans to make valuation of a personal guarantor's assets mandatory during the resolution process, as well as put in place the framework for recording creditors' deliberations on the repayment plan. In the proposed amendments in the rules to strengthen safeguards in the insolvency resolution process for personal guarantors to the corporate debtors, IBBI has also called for identification and reporting of avoidance transactions (preferential, undervalued, fraudulent, and extortionate credit transactions) in the insolvency resolution process. The proposals come against the backdrop of the insolvency case involving Essel Group chairman Subhash Chandra, wherein under a settlement plan it was proposed that creditors could recover just ..
The national debt surpassed a record USD 40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit to make up an enormous share of federal spending. The milestone figure was recorded just five months after the US hit a record USD 39 trillion debt in March. It reached USD 38 trillion five months before that, in October. The unprecedented USD 40 trillion figure highlights competing administration priorities, from boosting the defense spending that the US relies on to carry out President Donald Trump's almost-6-month-old Iran war to lowering the cost of gas and groceries. Kush Desai, a White House spokesman, said the Trump administration "has been focused on slashing waste, fraud, and abuse in federal spending while accelerating economic growth to get America's debt-to-GDP ratio trending in the right direction." However, experts say the exploding debt and the latest record milestone is ..
India's total external debt stood at USD 762.8 billion at the end of March 2026, registering an increase of USD 26.3 billion over the year-ago period, according to the RBI data released on Monday. Valuation effect due to the appreciation of the US dollar vis-a-vis the Indian rupee and other major currencies amounted to USD 24.6 billion, according to the data on 'India's External Debt as at the end of March 2026'. "Excluding the valuation effect, external debt would have increased by USD 51 billion instead of USD 26.3 billion at end-March 2026 over end-March 2025," the Reserve Bank of India said. The central bank also said that the external debt to GDP ratio increased to 20.8 per cent at end-March 2026 from 19.8 per cent during the corresponding period a year ago. At the end of March 2026, RBI said, long-term debt (with original maturity of above one year) stood at USD 613.5 billion, recording an increase of USD 11.6 billion over its level at end-March 2025. "The share of short-ter
Telangana's total debt, including that of its entities and government guarantees, stood at Rs 8 lakh crore as of December 2025, according to the Socio-Economic Outlook 2026 released by the state government. The state government said that from December 2023, when Congress assumed power, to the same month in 2025, the total borrowings of the state and its entities amounted to Rs 3,19,179 crore, with repayments (principal and interest) of Rs 3,04,202 crore. The repayments and loans raised by the Congress government during its nearly two and a half years in office indicate that a large share of the borrowings during that period was used to service existing debt, due to the substantial debt inherited from the pre-December 2023 period, the report said. "While total outstanding debt stood at Rs 8,00,805 cr as on 31 December 2025, the increase in outstanding liabilities needs to be interpreted in the context of large and unavoidable interest payments on account of the massive legacy debt...