In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings

Persistent negative growth in rural wages and soaring corporate profits accompanied by job and wage cuts demonstrate a clear disconnect between growth/profits and wellbeing of ordinary Indians

Private wealth creators are solely responsible for India's banking stress; increasingly fleeing India with their wealth and bank loans, and those making huge profits are doing so by cutting jobs and wages

Debt-ridden DHFL's Committee of Creditors (CoC) had in January approved the resolution plan submitted by Piramal Capital for the company.

India needs to collect and declare credible data on stressed assets, identify sectors and companies where these are accumulated and be transparent in insolvency resolution before jumping to a new mechanism

Kotak Investment Advisors (KIAL) had announced a fund raise of $1 billion in August 2019, anchored by a $500 million commitment from Abu Dhabi Investment Authority

RBI's database, reports and other evidence show India is credit surplus; large industrial houses have high debt stress, and that easy credit poses serious macro-financial risks to the economy

On New Development Finance Institution, which FM herself announced during her Budget 2021 speech, she said the idea of creating such an institute came from IDBI experience

Jubilant FoodWorks, which operates Domino's Pizza and Dunkin Donuts chains in India, reported a 21.71 per cent increase in consolidated profit at Rs 123.91 crore in the third quarter ended December 2020

At 21% recovery, IBC has performed worse than UPA-era debt recovery mechanisms panned for inefficiencies. The idea of a bad bank is also likely to fail if political interference and poor bank governance continue

The BT MindRush theme, Post-Pandemic Paradigm, brought out how businesses evolved in possibly their toughest year ever

Budget 2021 news: Currently, the banks have gross NPAs of around 7 per cent which is expected to rise to 15 per cent by September this year if the situation deteriorates

Budget 2021: The Reserve Bank of India, in a recent report on upcoming banking trends in the country, had pointed out the sector is set for an asset quality shock

The continuation of forbearance policies has unintended and detrimental consequences for banks, companies and the economy, the Survey said

The current capital adequacy levels in PSBs do not look too bad, but the current regulatory forbearance post Covid hides the real picture

While speaking at a panel discussion on 'Implementing Stakeholder Capitalism' at the World Economic Forum's virtual Davos Agenda Summit, the Mumbai-based business magnate said it is in everyone's interest to grow businesses in a sustainable manner

Billionaire Ajay Piramal's Piramal Group has emerged as the preferred bidder for debt-laden mortgage lender DHFL

Speaking at the Business Today MindRush event on Friday, January 22, Arvind Panagariya, Professor of Economic, Columbia University and Former VC, NITI Aayog said that the economic recovery hinges upon how fast the government can bring the coronavirus under control

Misdirected stimulus that relies heavily on liquidity infusion when demand is depressed and incentivising loan defaults by routinely writing off NPAs threaten financial stability and economic recovery

India's crude oil imports in December soared to the highest levels in nearly three years to more than 5 million barrels per day; The Supreme Court has dismissed the homebuyers' plea against the threshold introduced in the Insolvency and Bankruptcy Code (IBC); Joe Biden, in his maiden address to the nation soon after being sworn in as the 46th President of the United States, would deliver a forward-looking speech built around the theme of unity. Watch this and more on News Blast.Also Read: US President Joe Biden to extend COVID-19 travel restrictions to Europe