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India Asks UK To Deport Embattled Tycoon Mallya

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, Reuters reported. The Ministry of External Aff ...

Daily Headline - global.abi.org - 04/28/2016 - 21:20 - 0 comments

RBI Asks Banks Not To Treat Default By Some Firms As NPA In Q4

In view of mounting bad loans eating into banks' profits, RBI has allowed them to exclude from provisioning stressed loans of certain companies in the fourth quarter numbers, The Economic Times reported. This will help ease burden on banks to so ...

Daily Headline - global.abi.org - 04/21/2016 - 21:58 - 0 comments

China and India Have Different Answers for Their Debt Messes

China and India are both grappling with escalating bad debt challenges lurking in their banking systems. Yet the two Asian economic giants are embracing markedly different strategies to clean up the mess, Bloomberg News reported. Impaired loans have reac ...

Daily Headline - global.abi.org - 04/13/2016 - 21:22 - 0 comments

Tata Steel Plans to Sell British Plants, Threatening 15,000 Jobs

Prime Minister David Cameron faced a new economic and political challenge on Wednesday after the Indian owner of much of Britain’s steel industry said it could no longer swallow the large losses being generated by its plants and would try to sell them, t ...

Daily Headline - global.abi.org - 03/30/2016 - 21:50 - 0 comments

Bad Bank Loans Undermine India’s Growth Hopes

India’s place as an emerging market bright spot is under threat from simmering troubles in a banking system weighed down by bad loans, the Financial Times reported. The signs of distress are clear. Last week, Reserve Bank of India governor Raghuram R ...

Daily Headline - global.abi.org - 02/18/2016 - 18:54 - 0 comments

India’s Central Bank Governor Warns Of Need For ‘Deep Surgery’

India’s central bank governor Raghuram Rajan has warned that the country must brace for more than a year of “deep surgery” to repair its damaged banking system, raising fears that tough action on bad loans could slow economic recovery, the Financial Ti ...

Daily Headline - global.abi.org - 02/11/2016 - 23:22 - 0 comments

Educomp Lenders Looking At Strategic Debt Restructuring

Lenders to digital education provider Educomp Solutions Ltd are mulling conversion of debt to a majority equity holding under the strategic debt restructuring (SDR) scheme, two bankers in the know confirmed. “Bankers will be conducting a meeting in the s ...

Daily Headline - global.abi.org - 01/05/2016 - 23:39 - 0 comments

Indian Lending Growth Slows Amid Rising Risks to Banks, RBI Says

Loan growth at Indian banks slowed in the six months through September while bad loans rose, signaling increased risks to lenders, the Reserve Bank of India said in a report, Bloomberg News reported yesterday. "Risks to the banking sector increased ...

Daily Headline - abi_admin - 12/24/2015 - 11:57 - 0 comments

India Delays Bankruptcy Law, Fails to Break Deadlock on Tax

Indian lawmakers sent a proposed bankruptcy law for review today, closing off a raucous parliament session without transacting any major legislative business including a signature reform on state taxes, Reuters reported. The bankruptcy law is aimed at un ...

Daily Headline - abi_admin - 12/23/2015 - 12:41 - 0 comments

India Introduces Bill for Bankruptcy Law in Parliament

The Indian government yesterday introduced a bill in parliament aimed at bringing sweeping changes to an outdated and overburdened bankruptcy system, setting deadlines for the first time for processing insolvency cases, Reuters reported. At present, Asia ...

Daily Headline - abi_admin - 12/22/2015 - 14:20 - 0 comments

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