Loan Defaults
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Banks wrote off loans worth Rs 10.6 lakh crore in past five years: Finance Ministry
More than half of the amount involved borrowings by large industrial houses, the Centre said.
Scroll Staff
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Bank of Baroda withdraws auction notice for BJP MP Sunny Deol’s Mumbai house within 24 hours
After criticism, the public sector bank issued a clarification saying that the BJP MP has offered to settle dues.
Scroll Staff
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RBI’s ‘freebies’ for wilful defaulters makes a mockery of the banking system
Recent loan write-off amounts exceeded the funds shortfall to replace old railway tracks and spending on three social sectors.
Anirban Bhattacharya & Pranay Raj
Trending
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The real reason why Modi says what he does – Hindu India accepts it
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The Assam voter who no longer supports the BJP because of the CAA
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BJP’s street-fighters in coastal Karnataka want a share in power
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Lok Sabha polls: Ladakh MP rallies supporters after BJP drops him from candidate list
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For better or for worse? Shifts in gender norms in India – in 12 charts
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Modi government under fire over new rules allowing wilful defaulters to settle loans with lenders
The Reserve Bank’s new framework has been introduced to rehabilitate major wilful defaulters, say Opposition leaders.
Nachiket Deuskar
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Process of recovering money after loan write-offs is complex, says Nirmala Sitharaman
The finance minister was responding to a question on the PMC Bank case in which depositors had challenged the limit imposed on their withdrawals.
Scroll Staff
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Vijay Mallya stands to be evicted from London home due to verdict in loan default case
His house was under mortgage against a 20.4 million pound (over Rs 206.79 crore) loan he failed to repay to Swiss bank UBS.
Scroll Staff
Video
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Watch: K-Pop singer Aoora sings in Assamese as he collaborates with Nilotpal Bora in a new folk song
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Watch Anu Malik and Sonu Nigam’s impromptu performance of ‘Main Hoon Na’ at Farah Khan’s home
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Watch: Doordarshan newsreader faints on live TV in Kolkata owing to severe heat
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Watch: Spice Girls sing ‘Stop’ as bandmates reunite to celebrate Victoria Beckham’s 50th birthday
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Watch: Over 350 ballerinas come together to break the world record for standing on tip toes
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Former Assam CM Hiteswar Saikia’s son arrested by CBI in loan default case
Ashok Saikia claimed that he repaid his dues to the State Co-operative Agriculture and Rural Development Bank in 2011.
Scroll Staff
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SC refuses to hear plea seeking moratorium on declaration of non-performing assets
The court said this would have to be a policy decision taken by the central government.
Scroll Staff
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SC stops banks from charging penal interest on any borrower during loan moratorium period
The court also refused an extension of the moratorium period granted by the RBI on account of the coronavirus pandemic.
Scroll Staff
The Reel
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Watch: In ‘The Big Cigar’, the Black Panther founder flees America through a fake movie
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‘Dil Dosti Dilemma’ review: A feelgood entertainer about young love and old ties
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In ‘Tahader Katha’, the many partitions endured by a freedom fighter
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Watch: Ryan Reynolds and Hugh Jackman in ‘Deadpool & Wolverine’ trailer
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Start the week with a film: A legend returns in ‘Bob Marley: One Love’
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Rising loan defaults are adding to the woes of non-bank lenders in India
The impact of Covid-19-led slowdown on household incomes is visible in the balance sheets of NBFCs.
Prathamesh Mulye, Qz.com
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Loan moratorium scheme: Extension of time given to borrowers not viable, RBI tells Supreme Court
The central bank said it had already issued a framework on August 6 with the aim of facilitating the revival of real sector activities and helping borrowers.
Scroll Staff
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Loan moratorium scheme: Centre urges SC not to give more relief to borrowers
The Centre said several relief packages and schemes had been worked out with experts.
Scroll Staff
The Field
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Archery, World Cup Stage I: Men’s recurve team reach final; Priyansh, Vennam in compound semis
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Watch, highlights ISL 2023-24: Mumbai City win dramatic semi-final first leg against FC Goa
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Athletics, Asian U20 C’ships: India clinch medals in men’s javelin, discus and 1500m on opening day
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Boundaries and impact: The imbalance in IPL 2024 shows it is not a good time to be a bowler
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IPL 2024: Delhi Capitals hold their nerve to beat Gujarat Titans in a high-scoring thriller