The government, on July 18, 2019, made the anti-money laundering law more stringent, through amendments to the Finance Bill, 2019, in the Lok Sabha, which was later approved by the house, by a voice … READ FULL STORY
Total bad loans of commercial banks declined by Rs 1.02 lakh crores, to Rs 9.34 lakh crores in the 2018-19 fiscal, on the back of steps taken by the government, finance minister Nirmala Sitharaman … READ FULL STORY
Additional solicitor general Madhvi Diwan, on July 11, 2019, informed the Supreme Court that the centre was working on a uniform proposal, to address various grievances of aggrieved home buyers and it would be … READ FULL STORY
The Reserve Bank of India (RBI) has proposed to allow companies faced with insolvency proceedings, to tap funds through external commercial borrowings, to repay their debts. As per the existing guidelines, the proceeds of … READ FULL STORY
Finance minister Piyush Goyal, on January 28, 2019, exhorted state-run banks to step up lending to micro, small and medium enterprises, agriculture and housing sectors and also assured these lenders of all kinds of … READ FULL STORY
Owning a home, for an average Indian, is a lifelong dream. There have also been numerous instances, where thousands of aspiring home buyers have suffered, owing to poor financial management on the part of … READ FULL STORY
A parliamentary committee has questioned the Reserve Bank of India (RBI), for failing to take preemptive action in checking bad loans in the banking system, prior to the Asset Quality Review undertaken in December … READ FULL STORY
Maintaining that it was ‘fully committed’ to construct homes and make payments to home buyers for the delay in handing over possession, Jaiprakash Associates Ltd (JAL) has also sought the constitution of a committee, … READ FULL STORY
The Real Estate (Regulation and Development) Act, 2016 (RERA), which is meant to safeguard the rights of the home buyers and provide speedy redressals, has faced significant hurdles in its own implementation, ever since … READ FULL STORY
In a welcome news for home buyers, the union cabinet, on May 23, 2018, has reportedly approved amendments to the Insolvency and Bankruptcy Code (IBC) 2016, allowing home buyers the status of financial creditors. … READ FULL STORY
Real estate firm Amrapali Group, which is facing insolvency proceedings initiated by the creditor bank for not repaying its loan, has claimed that many firms have expressed interest in taking over and completing its … READ FULL STORY
According to a report by CRISIL, the Reserve Bank of India’s (RBI’s) new framework on bad loans, has the potential to bring about a big change in the approach of banks, to monitor their … READ FULL STORY
The Reserve Bank of India (RBI), on February 12, 2018, abolished half a dozen existing loan-restructuring mechanisms and instead, provided for a strict 180-day timeline for banks to agree on a resolution plan, in … READ FULL STORY
