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Government eyes cleanup of bad debt mountain as wary state banks hesitate

May 05, 2016 at 13:30 | Source: FirstPost

Governmentis considering setting up an independent panel to help state-owned banks negotiate settlements with big businesses on bad loans.India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has co...

India eyes cleanup of bad debt mountain as wary state banks hesitate

May 05, 2016 at 08:40 | Source: FirstPost

India is considering setting up an independent panel to help state-owned banks negotiate settlements with big businesses on bad loans.India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come u...

Jindal brothers sign $976 million power deal | Reuters

May 04, 2016 at 23:30 | Source: FirstPost

NEW DELHI Billionaire Sajjan Jindal's JSW Energy Ltd has agreed to buy a 1,000 megawatt power plant from his brother's heavily indebted Jindal Steel and Power Ltd in a deal valued at up to $976 million, the companies said on Wednesday.Jindal Steel sa...

India amends mining law in boost to cement mergers and banks| Reuters

May 02, 2016 at 23:45 | Source: FirstPost

NEW DELHI/MUMBAI The Rajya Sabha on Monday approved an amendment to the mining law, allowing the transfer of mines from sellers to buyers in a victory for the State Bank of India (SBI) that had lobbied for the change.Under pressure to cut corporate b...

Vijay Mallya resigns as MP; says he is disappointed with Rajya Sabha colleagues

May 02, 2016 at 19:49 | Source: FirstPost

Embattled liquor baron, Vijay Mallya, resigned from his capacity as a Member of Parliament on Monday, a week after the Rajya Sabha ethics panel recommended his termination. The committee had given Mallya a week to respond. Mallyas MP status was suppo...

King of bad times: Liquor-baron Vijay Mallya resigns as Rajya Sabha MP

May 02, 2016 at 18:32 | Source: FirstPost

Embattled Liquor-baron, Vijay Mallya, has resigned from his capacity as a member of parliament on Monday, a week after the Rajya Sabha ethics panel recommended his termination. The committee had given Mallya a week to respond. Mallyas MP status was s...

Vijay Mallya case: Banks should focus on recovering dues than go after borrowers, says Uday Kotak

May 01, 2016 at 12:31 | Source: FirstPost

New Delhi:Banks should focus on recovery rather than "going after borrowers", eminent banker Uday Kotak said today, a day after embattled tycoon Vijay Mallya remarked that arresting him will not help banks recover any money."In banking...

Vijay Mallya vs banks: No takers for Kingfisher assets at auction

May 01, 2016 at 10:23 | Source: FirstPost

Mumbai:Auction of brands and trademarks ofKingfisher Airlines turned out to be a damp squib today aslenders failed to attract a single bidder for sale of thesepledged assets at a reserve price of Rs 366.7 crore in theirefforts to recover unpaid loans...

Banks anywhere else would've settled with Mallya: But nowhere else would he get loans

Apr 30, 2016 at 14:37 | Source: FirstPost

In some ways, Vijay Mallya, Chairman of the UB group of companies, may be right. He does rightly point out in a recent interview toFinancial Timesthat the speed with which his passportwas revoked is unprecedented in Indias history.He is right in stat...

Banks anywhere else would've settled with Vijay Mallya: But nowhere else would he get loans

Apr 30, 2016 at 11:52 | Source: FirstPost

In some ways, Vijay Mallya, Chairman of the UB group of companies, may be right. He does rightly point out in a recent interview toFinancial Timesthat the speed with which his passportwas revoked is unprecedented in Indias history.He is right in stat...

True, anywhere else banks would've settled with Mallya. But, nowhere else he'd have got the loan!

Apr 30, 2016 at 09:52 | Source: FirstPost

In some ways, Vijay Mallya, Chairman of the UB group of companies, may be right. He does rightly point out in a recent interview toFinancial Timesthat the speed with which his passportwas revoked is unprecedented in Indias history.He is right in stat...

India asks UK to deport embattled tycoon Vijay Mallya| Reuters

Apr 28, 2016 at 23:30 | Source: FirstPost

NEW DELHI India said on Thursday it had asked Britain to deport Vijay Mallya, the liquor tycoon who flew to London last month as bankers pressed him to repay about $1.4 billion owed by his defunct Kingfisher Airlines.The Ministry of External Affairs ...

Dear SC: Judiciary too has to take blame for the bad loan mess

Apr 28, 2016 at 09:51 | Source: FirstPost

The Supreme Court has raised certain important questions on the state of bad loans that has gripped India's Rs 101 trillion banking industry and has sought to overhaul the banking system in this context. Responding to a petition filed by NGO 'Centre ...

Dear SC: Judiciary too has its share in the bad loan mess

Apr 27, 2016 at 18:19 | Source: FirstPost

The Supreme Court has raised certain important questions on the state of bad loans that has gripped India's Rs 101 trillion banking industry and has sought to overhaul the banking system in this context. Responding to a petition filed by NGO 'Centre ...

SCs concern on bad loan issue is welcome; but judiciary too has its share in the mess

Apr 27, 2016 at 15:44 | Source: FirstPost

The Supreme Court has raised certain important questions on the state of bad loans that has gripped India's Rs 101 trillion banking industry and has sought to overhaul the banking system in this context. Responding to a petition filed by NGO 'Centre ...

Veteran journalist TN Ninan honoured with RedInk Lifetime Achievement Award

Apr 27, 2016 at 14:00 | Source: FirstPost

Veteran business journalist TN Ninan was on Tuesday honoured with the RedInk Lifetime Achievement Award of the Mumbai Press Club. The awards presented by the Governor of Maharashtra C Vidyasagar Rao and Union Energy Minister Piyush Goyal recognizes N...

Sebi ropes in HDFC Realty, SBI Cap for sale of Sahara assets

Apr 26, 2016 at 18:51 | Source: FirstPost

New Delhi: Tasked with a massive job of selling certain unencumbered properties of beleaguered Sahara group, markets regulator Sebi is believed to have roped in HDFC Realty and SBI Capital to help in the sale process.Sources said that HDFC Realty and...

India needs time to implement historic Paris climate agreement: Javadekar

Apr 25, 2016 at 18:16 | Source: FirstPost

New York: India has sought time to implement the Paris climate agreement, saying it should not be done in "haste" and all countries should be allowed to follow their national processes."A debate about early entry into force of the Pari...

Applying for job in SBI? Make sure you haven't defaulted on your EMIs

Apr 25, 2016 at 10:37 | Source: FirstPost

Hyderabad: If you want to apply for a job atState Bank of India (SBI), any default on loans or credit cardpayment will render your ineligible.SBI, which is in the process of recruiting JuniorAssociates (Customer Support & Sales) and Junior Ag...

CBI to seek diplomatic help in Vijay Mallya case, to send letter rogatory to five nations

Apr 25, 2016 at 08:00 | Source: FirstPost

After revoking the passport of Vijay Mallya, the government is all set to take the next step to intensify the investigation against the embattled liquor baron, facing charges of Rs 9,000 crore loan default and alleged financial irregularities. The go...

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