Search result for 'debt recovery'

Indian banks wrote off Rs 16.35 lakh crore in bad loans over the past 10 years, with the highest amount written off in FY19. Learn more about the write-off process and the implications for borrowers.

Embattled businessman Vijay Mallya is seeking to annul his UK bankruptcy order, arguing that a statement by India's finance minister renders the order invalid. The move comes after a series of...

Vijay Mallya seeks to overturn UK bankruptcy order, citing “unreal quality” after Indian Finance Minister confirmed banks recovered more than owed.

Fugitive businessman Vijay Mallya claims ED and banks have recovered more than twice the debt he owed, vowing to pursue relief. He maintains his innocence in the Kingfisher Airlines loan case,...

Finance Minister Nirmala Sitharaman predicts a significant rise in India's living standards in the coming decades, driven by economic reforms. The country is projected to nearly double its per...

The Finance Ministry has directed banks to implement effective oversight mechanisms for managing pending cases in Debt Recovery Tribunals (DRTs) to expedite recovery and improve efficiency.

Swadeshi Jagaran Manch (SJM) hails the Union Budget 2024-25, praising its focus on employment, agriculture, MSMEs, and entrepreneurship. SJM highlights key initiatives like internship programs,...

The US India Business Council (USIBC) has praised India's Union Budget 2024 for its focus on measures to increase integration into global value chains, calling it a key step in strengthening...

Indian bankers have lauded the Union Budget 2023, commending its focus on growth and infrastructure development while maintaining fiscal discipline. They highlight positive implications for the...

Finance Minister Nirmala Sitharaman announced changes to the Insolvency and Bankruptcy Code (IBC), including tribunal strengthening and a digital platform for improved outcomes.

The Insolvency and Bankruptcy Board of India (IBBI) has issued new guidelines to streamline the appointment of insolvency professionals (IPs) as interim resolution professionals, liquidators, and...

Finance Ministry directs banks to periodically review the performance of empanelled advocates at debt recovery tribunals (DRTs) to expedite case resolution.

India's Debt Recovery Tribunals face a backlog of over 2.15 lakh cases. Learn about the reasons behind the delays and steps taken by the government to address the issue.