Default

Defaulting on a personal loan can have adverse consequences, from a damaged credit score to potential legal action. Learn how to manage repayments effectively and avoid any financial pitfalls.

RBI penalty on HDFC Bank: Know the recovery agent rules that lenders cannot violate

As per RBI guidelines, recovery agents are required to follow a strict code of conduct when dealing with borrowers – they have to maintain decency and courtesy, respect personal space and adhere to specified timings for contacting borrowers.

Banking Central | Microlenders, it's time to take a pause and think again, lest it hits you back

The RBI removed the cap on margins in November 2022, opening the field for microlenders to decide lending rates of their choice

NCLT admits insolvency resolution plea against Goli Vada Pav

NCLT passed the order on a plea by Vista Processed Foods Pvt Ltd, which has accused Goli Vada Pav of failing to repay a debt of Rs 3.56 crore

Frenetic rush to resolve sovereign debt crises keeps Wall Street jittery

In New York, a cohort of debt-relief activists and US state politicians are pushing for a more-permanent solution: a law that would overhaul the process of restructuring sovereign debt.

Biden, McCarthy forge debt-limit deal in a bid to avert US default

Economists have said even a short default could see dramatic market declines and the loss of hundreds of thousands of jobs

US on track for June 1 default without debt ceiling hike, Treasury says

In her second letter to Congress in two weeks, Treasury Secretary Janet Yellen confirmed that the agency will be unlikely to meet all U.S. government payment obligations by early June, triggering the first-ever U.S. default. The debt ceiling could become binding by June 1, she said.

US lawmakers dig into partisan corners as debt ceiling default looms

Democratic Senate Majority Leader Chuck Schumer on Monday began to clear the way for a vote for a bill that would suspend the government's $31.4 trillion debt limit for two years without conditions.

Nuclear-armed Pakistan reaches for IMF loan to avoid default

The dire outlook from economists and political analysts comes after the International Monetary Fund delayed the release of a crucial USD 1.1 billion portion of a 2019 deal worth USD 6 billion, on hold since December over Pakistan's failure to meet the terms.

Sanskar Projects and Housing taken to NCLT over default

Financial creditor Realpro Realty Solutions slaps Section 7 of Insolvency and Bankruptcy Code on the realtor which constructs builder flats in Delhi for Rs 5-crore default

When ‘Tamasha’ guarantees ‘Nautanki’ | Three banks look to recover bad loans

The Great Indian Nautanki Company owes three banks about Rs 142 crore, besides interest and penalties. One of its corporate guarantors is Great Indian Tamasha Company. But can company names be considered an indicator of a borrower’s credibility?

NCLT delays admission of insolvency proceedings against Future Retail

This is the second time that the court delayed admission of insolvency proceedings against the debt-laden retailer. The court will now hear the case next on June 6.

Tennis legend Boris Becker jailed in Britain over bankruptcy

The six-time Grand Slam champion, 54, will serve half of the term having being convicted at Southwark Crown Court in London over his transfer of huge amounts of money from his business account

Russia makes last-minute bond payment to avoid default

The amount of the payment was not disclosed, but earlier this month Russias finance ministry said it tried to make a $649 million payment due April 6 towards two bonds to an unnamed U.S. bank previously reported as JPMorgan Chase

Bankrupt Sri Lanka looks to expand airline fleet

The announcement came after the government suspended repayment of all its foreign borrowings, ahead of negotiations for a debt restructure with the International Monetary Fund

Russia’s first default in a century looks all but inevitable now

A freeze on the central bank’s foreign reserves unplugged Russia from the global financial system, making it the world’s most-sanctioned nation in a matter of days.

Explained: Clock ticks down towards a Russian default

Russia was due to make a payment of $649 million to holders of two of its sovereign bonds on Monday. But the U.S. Treasury blocked the transfer, preventing Russia from using any of its frozen foreign currency reserves for servicing its debt.

How four powerful brothers broke Sri Lanka

The Rajapaksa clan may have defeated the Tamil rebellion, but they’ve lost control of Sri Lanka’s economy after two years of worsening crisis

SC order puts interests of homebuyers above that of banks in the event of a real estate firm defaulting on a loan

Legal experts say the order would shield homebuyers from fraudulent practices of real estate developers who often fail to repay debt, leading to lenders taking over incomplete projects and auctioning them to recover their dues

Did SEBI let off Franklin Templeton too lightly?

Investors in the six Franklin Templeton debt schemes that have been shuttered have suffered enough. The Sebi order does not do justice to what they have endured.

HDFC, PNB, SBI among top banks to make it to TRAI's list of defaulters over new SMS regulations

TRAI has asked operators to fully implement the new SMS rules from April 1 and has directed them to block messages from companies and telemarketers that are yet to comply with the norms.

Flaws in credit rating: Why it is critical that you research well before investing in bonds

If the ‘borrower pays’ business model persists, the stated ratings will tend to be better than the real financial health of the rated company

Yes Bank interest default a warning on what rising NPAs could do

The expected sharp rise in NPAs brings two inter-linked issues to the fore. One is the need to augment bank capital. Second, we need to conclusively address the bad loan issue so that lending gains traction and supports the economic recovery.

Capital requirements for banks set to rise amid worsening asset quality: ICRA

ICRA estimates the gross non-performing asset (NPAs) could rise to 11.3-11.6 percent by March 2021 from an estimated level of 8.6 percent for March 2020

Tough days for debt mutual fund investors when RBI’s moratorium period ends

Some Indian companies have approached courts to stall rating agencies from downgrading their debts