Bad Loans Current Affairs, GK & News

RBI permits transfer of fraud loans to ARCs.

The Reserve Bank of India (RBI) allowed, on September 23, 2021, lenders to sell loans that are tagged as fraud to the asset reconstruction companies (ARCs). Key facts This permission by RBI potentially paves the way for focussed recovery efforts on loans worth trillions of rupees. As per RBI’s annual report, banks have reported frauds ..

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Why did RBI impose moratorium on Lakshmi Vilas Bank?

The Reserve Bank of India recently imposed a moratorium on Lakshmi Vilas Bank of India for a period of thirty days. The apex bank has also drafted a scheme for the merger of the bank. Under the scheme, the Lakshmi Vilas Bank is to be amalgamated with the DBS Bank of Singapore. Why was Lakshmi ..

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Cabinet approves amendment to bring Cooperative Banks under RBI Regulation

On February 5, 2020, the Union Cabinet approved to bring regulation of cooperative banks under Reserve Bank of India. In order to achieve this, the Cabinet approved amendments to Banking regulation act. Highlights According to the amendment, the cooperative banks will now hold the regulatory requirements that have been set for scheduled commercial banks. With ..

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National Financial Reporting Authority submits first report since constitution

The National Financial Reporting Authority (NFRA) issued its first audit report of IL&FS Financial Services Limited for the year 2017-18. It is the first report submitted by the authority since its constitution in October 2018. The audit was conducted abiding Section 13(2) of the companies act, 2013 and NFRA rules, 2018. Highlights Prior to NHRA, ..

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RBI raises concerns over bad loans from Mudra Yojana

The Reserve Bank of India on November 27, 2019 raised concerns over increasing bad loans from the Pradhan Mantri Mudra Yojana. RBI believes that there is an urgent need to monitor the loans sanctioned under Mudra Yojana. Concerns According to RBI, the percentage of MUDRA loans were at 2.52% in 2017-18, It has now raised ..

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