Page 2 - Loan Recovery

TMS Ep500: Auditors quitting, loan recovery, markets, TMS behind the scene

From Byju's to Adani, why are auditors quitting? Did a bad loan recovery process push Nitin Desai to suicide? Do defence-related stocks have more firepower? What's goes behind the scene of Team TMS?

No undue pressure exerted on Desai, interest rate not excessive: Edelweiss

Hours after a case was registered against its top officials for allegedly abetting the suicide of Bollywood art director Nitin Desai, Edelweiss ARC on Friday denied that it had put pressure on him for repaying loans. Stating that it followed all legal processes mandated by the RBI, the Asset Reconstruction Company also clarified that Desai, who had defaulted on a Rs 252 crore loan, was not charged an excessive interest rate. Neither was the interest rate charged excessive nor was there at any time undue pressure being put on the borrower for recovery, the company said in a late evening statement. Earlier in the day, the Raigad police in Maharashtra registered a first information report against Edelweiss Group chairman Rashesh Shah and four others including officials from the ARC, for allegedly abetting Desai's suicide. Deputy Chief Minister Devendra Fadnavis had on Thursday told the state legislature that the investigators will probe whether Desai was charged high interest for the

RBI lifts curbs on loan recovery via third parties: M&M Financial Services

MMFSL shares had plunged over 20% following the order in September, before recouping those losses by December

Banks reluctant to lend to e-bus makers on concerns of recovery of dues

Lack of funding is limiting the ability of e-bus makers to participate in federal govt tenders to supply to states, the sources told, threatening to slow the electrification of major public transport

Only about 13% recovery in written-offs loans during last five years: Govt

Only about 13% of the loans written off by the scheduled commercial banks during the last five financial years have been recovered

'Financial creditors forego Rs 790 cr under insolvency resolution process'

The report also said the trend in the loan recovery rate is also going down

Action against M&M Financial Services won't affect other NBFCs: RBI

Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery

What borrowers should know about their rights against loan recovery agents

People who fail to repay their loans are not criminals and they can't be harassed

RBI action has no impact on business, says M&M Financial Services

The RBI action of barring M&M Financial from outsourcing recovery agents comes after the Harazibagh incident where a pregnant woman was mowed down to death

A woman's death in Jharkhand brings loan recovery agents to notoriety again

Court warnings and RBI's circular prohibit lenders and their agents from harassing or threatening debtors

Analysts bet on consumer financiers as festive cheer perks up loan demand

Demand for consumer goods, automobiles, white goods has been holding momentum, which should translate into good credit off take for consumer financiers this festive season, analysts said

Gap between slippage and recovery has narrowed: City Union Bank CEO

The bank's share closed at Rs 179.05 a piece on BSE, down 4.7% from its previous close while the broader Sensex was down 1.46%

Will issue guidelines to make digital lending ecosystem safer: RBI Guv

Speaking on inflation, Guv Das said that had the monetary policy been tighter, the economic damage would have been enormous

Keep recovery agents at bay by working out repayment terms with lender

In extreme situations, file injunction suit against the latter to prevent it from taking coercive steps

PNB to bring down NPAs, ensure high loan recoveries: Atul Kumar Goel

The lender declared its January-March earnings Wednesday, and posted a drop in its gross NPAs to 11.78 per cent from 14.12 per cent reported a year ago

SBI lines up 12 NPA accounts for sale to recover dues of over Rs 820 cr

Country's largest lender SBI has lined-up a dozen non-performing assets (NPAs) on sale to recover loan dues of over Rs 820 crore, as per the bank's notifications. In terms of the bank's policy on sale of financial assets, in line with the regulatory guidelines, SBI said it has placed these accounts for sale to asset reconstruction companies (ARCs)/banks/Non-Banking Financial Companies (NBFCs)/financial institutions (FIs), on the terms and conditions indicated there against. In various notices on its website, State Bank of India (SBI) has put up a total of 12 bad assets for sale during this month to April 13. NPA account Topworth Urja & Metals Ltd, with a loan outstanding of Rs 396.74 crore is to be sold in an e-auction to be held on March 29, 2022. With reserve price fixed at Rs 85 crore, SBI said the NPA account will be sold on a cash/cash-cum-SR ratio of 50:50. "Bid with highest cash component shall be considered as successful bid," it said in a notice. Another account, Balasore

Dish TV shares rise 13% on lenders' move to change management

Slim chance of loan recovery, say analysts

Only nine large firms' debt of Rs 59,000 crore recast by banks so far

Kamath panel approved all the nine proposals of banks

Banker's Trust: Has crony capitalism hijacked bad loan resolution?

If bankers move fast and preserve the enterprise value of defaulting companies, recovery rate will improve even as the new insolvency law, much like the GST, remains a work in progress

Haircuts and settlements

Gaming the system leads to losses to lenders