PM Modi argued that when investment in infrastructure projects like, making roads, laying down rail lines, setting up power generation is at all-time high, how come the jobs will not be created.

The appellate tribunal also rejected the claims of engineering and construction major L&T, an operational creditor of Bhushan Steel Ltd, opposing Tata Steel's resolution plan seeking a higher priority in debt resettlement.

The Supreme Court today asked the Allahabad bench of the NCLT to deal with the insolvency proceedings against Jaypee Infratech, allowing a second round of bidding.

Bhushan Power and Steel owes about Rs 45,000 crore to its lenders and it was among the 12 non-performing accounts referred by the Reserve Bank of India for insolvency proceedings in June last year.

The International Monetary Fund (IMF) believes the $2.6 trillion Indian economy is an elephant that is starting to run.

Indian banks reported a total loss of about Rs 70,000 crore due to frauds during the last three fiscals up to March 2018.

The government has given signal to banks to try out yet another resolution approach, including AMC-AIF, for dealing with growing stressed assets. Will it work?

It has not given bankers the realisations they had hoped for. Now the government has unveiled a new approach even while they are modifying the act.

The Insolvency and Bankruptcy Code can lead to huge job losses in the short to medium term as many companies, including some big names, face liquidation.

The bad loan problem for Indian banks has defied solutions despite multiple efforts by the government and the Reserve Bank of India (RBI) over the years.

Finance Ministry has said that the powers of RBI are wide-ranging and comprehensive to deal with various situations that may emerge in all banks, irrespective of ownership i.e. the public sector and the private sector owned banks.

The bill - Insolvency and Bankruptcy Code (Second Amendment) Bill 2018 - aims at giving relief to the homebuyers by recognising them as financial creditors, a status that will make them an integral part of  Committee of Creditors while dealing with bankruptcy cases.

The introduction of the GST and enactment of Insolvency and Bankruptcy Code are considered to be the two key parameters where India made significant progress during 2017/18, say commerce ministry officials.

A Boston Consulting Group report reveals that economies like US, UK, Singapore, Hong Kong, Germany and Japan have a recovery rate of 80% and a resolution time frame of under one-and-half years. India has posted a sub-par recovery rate of 26.4% and an average resolution time of 4.3 years.

The inter-creditor agreement gives more powers to the lead lender in a consortium and allows a resolution plan to be approved if 66 percent of the banks in the group agree to it.

Vinay Sah, MD and CEO of LIC Housing Finance (LIC HFL), talks to Naveen Kumar on the latest developments in the housing finance industry and the performance of the company as one of the significant NBFC players in this segment.

The top industrialists in the country have been quite reluctant in publicly voicing their concerns about the economy in all these years. The scene is changing now.

The true extent of the NPA problem only started becoming clear once then RBI governor Raghuram Rajan initiated the Asset Quality Review (AQR) in 2015

PNB's NPA recovery in first quarter tops FY'18 level  Scam-hit PNB's recovery of over Rs 7,700 crore in bad loans during the first quarter in the current fiscal has surpassed the total amount it recovered in the entire 2017-18 financial year, indicating that it has embarked on the turnaround path, the bank's top official has said. The Insolvency and Bankruptcy Code (IBC) resolution process has greatly helped Punjab National Bank, which was hit by nearly USD 2 billion fraud allegedly carried out by jeweller Nirav Modi and his associates, he said. \"In the first quarter itself, 2-3 big accounts have been resolved. As a result, the bank has got over Rs 3,000 crore only through the resolution process,\" PNB Managing Director Sunil Mehta told PTI. Govt sets up 10-member panel to review penal provisions under companies lawThe Ministry of Corporate Affairs on Sunday announced that it has constituted a 10-member committee to review the penal provisions under the companies law and examine decriminalisation of certain offences. The high-level committee, chaired by Corporate Affairs Secretary Injeti Srinivas, would submit its report in 30 days to the government. The Ministry of Corporate Affairs seeks to review offences under the Companies Act, 2013 as some of the offences may be required to be decriminalised and handled in an in-house mechanism, where a penalty could be levied in instances of default. De Beers to focus on smaller cities in India for expansion Global diamond producer De Beers is looking to partner local retailers in smaller cities to boost sales which it claims grew at 100 per cent last year. The company sells its diamond jewellery through250 partnered retail stores in the country under the brand 'Forevermark'. Sales during January-June, 2018 remained robust and the overall sales volumes may double as compared to the last year.The Forevermark brand has 30 per cent market share in India. EU urges big powers to prevent trade 'conflict and chaos'  The European Union has called on the United States, China and Russia to work together to avoid trade \"conflict and chaos\" to prevent it spiralling into violent confrontation. \"It is the common duty of Europe and China, but also America and Russia, not to destroy (the global trade order) but to improve it, not to start trade wars which turned into hot conflicts so often in our history,\" EU Council President Donald Tusk said in Beijing. The EU -- the world's biggest single market with 28 countries and 500 million people -- is trying to buttress alliances in the face of the protectionism unleashed by US President Donald Trump's \"America First\" administration. China economic growth slows to 6.7 pc in second quarter  Chinese growth slowed slightly in the second quarter as the world's number two economy faced a snowballing trade fight with the United States. The economy expanded by 6.7 per cent in April-June, down from 6.8 per cent in the first quarter and in line with a 6.7 per cent rate tipped in an AFP survey of economists. Despite the quarterly deceleration, growth was still higher than the annual target of around 6.5 per cent set by the government.

Last financial year, PNB made recovery of about Rs 5,400 crore. However, in the first quarter of current fiscal, the bank has done recovery of over Rs 7,700 crore.