Bad loans: beyond the Ordinance is the real world
Mumbai: There was demand that the Ordinance be diluted; that this should not be applicable to the small scale sector; that it should only be applicable to wilful defaulters.
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Bank loans to core sector project promoters urged
Mumbai: The Confederation of Indian Industry (CII) has made out a case for allowing commercial banks to finance Indian promoters for acquisition of shares of companies in infrastructure sectors.
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Short-end papers see rising demand
Mumbai: Even private corporate debentures are also competitively priced though there is a difference of at least 20 basis points between a private sector and public sector issue, despite both of them have the same credit rating of `AAA'.
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A Hobson's choice for central banks
The Federal Reserve left the interest rates unchanged last week, but changed the bias to softening. Fed has pointed out to the risk from weak financial markets to recovery. It has been a roller-coaster ride for economists who have been looking for an economic recovery in the US.
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`Liability law not to dilute powers under Ordinance'
New Delhi: Officials of the Ministry of Finance have said that the proposed legislation on lenders' liability will not include any clause that might lead to a dilution of the powers provided to banks and FIs under the Ordinance for Securitisation and and Reconstruction of Financial Assets.
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PSU banks asked to submit ATR on frauds by Sept 30
New Delhi: Public sector banks have been told to submit action taken reports by September 30 regarding the central vigilance commission recommendations relating to bank frauds.
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Only DRT has jurisdiction over recovery, rules SC
New Delhi: Refusing to transfer a suit from the debt recovery tribunal to high court, the Supreme Court held that only the tribunal had jurisdiction over matters relating to recovery of debts due to banks and financial institutions.
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