Bad Loans
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 ..
Tags: Asset Reconstruction Companies (ARC’s) • Bad Loans • National Asset Reconstruction Company Ltd (NARCL)
Month: Current Affairs - September, 2021
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 ..
Tags: Bad Loans • Banking Regulation Act • lakshmi vilas bank • moratorium • Non-performing Asset
Month: Current Affairs - November, 2020
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 ..
Tags: Bad Loans • commercial banks • PMC banks • RBI
Month: Current Affairs - February, 2020
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 ..
Tags: Auditing • Bad Loans • Companies Act 2013 • Financial Assistance • Investment
Month: Current Affairs - December, 2019
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 ..
Tags: Bad Loans • Cooperative Banks • Mudra Loans • NBFC • RBI
Month: Current Affairs - November, 2019
Key Facts: Why RBI has abruptly placed restrictions on PMC Bank?
The Reserve Bank of India has imposed caps on withdrawals made by customers of Punjab and Maharashtra Cooperative Banks for 6 months. The imposition was invoked by the central bank under Section 35 A of India’s Banking Regulation act, 1949. ..
Tags: Bad Loans • India Banking regulation act 1949 • NPA • PMC banks • RBI