Loan Recovery

Escalate complaint to bank grievance officer, ombudsman, and finally consumer court

HDFC Bank will use a rare debt instrument known as pass-through certificates to sell loan portfolios worth up to Rs 10,000 crore ($1.2 billion)

Rao said that such events can destroy assets funded by institutional finance, thereby harming the financial health of these institutions

Allahabad High Court has asked ICICI Bank chairman to personally appear before the court and file an affidavit to explain why the bank used collection agents despite a Supreme Court prohibition

The corporate affairs ministry is probing various Chinese companies, especially those with links to loan apps, for alleged violations and some of the investigations are at an advanced stage, according to a senior official. In recent times, Indian authorities have been cracking down on entities that are operating loan apps illegally and the ministry has also been acting against companies and related individuals for hiding beneficial ownership. The senior official told PTI that enquiries by the ministry are going on against various Chinese companies, especially those linked to loan apps, and some of the enquiries are at an advanced stage. The ministry, which is implementing the companies law, is mainly looking at whether frauds have been committed at these companies and some of the cases are being probed by the Serious Fraud Investigation Office (SFIO), the official said. Further, the official said that the ministry receives complaints from the Reserve Bank of India (RBI) and the ...

JM Financial on Monday posted a 46 per cent rise in net profit to Rs 278 crore in the December quarter on the back of robust revenue growth. In a statement, the company said both its topline at Rs 1,261 crore, which is more than 33 per cent over the same period last fiscal, and the bottomline at Rs 278 crore are the highest quarterly numbers. A large contributor to the topline was equity broking where average daily turnover jumped 50 per cent to Rs 42,644 crore. From the credit side, the loan book expanded 49 per cent year-on-year to Rs 1,759 crore. The overall loan book declined to Rs 15,111 crore from Rs 15,234 crore year-on-year and from Rs 15,808 crore sequentially. During the quarter, recoveries stood at Rs 405 crore, the company said, adding that gross Non-Performing Assets (NPAs) stood at 4.5 per cent as against 3.6 per cent in the year-ago period, while net NPAs were flat at 2.2 per cent.

Reversal in decision comes within a day of the initial auction notice for the actor's Juhu property

From Byju's to Adani, why are auditors quitting? Did a bad loan recovery process push Nitin Desai to suicide? Do defence-related stocks have more firepower? What's goes behind the scene of Team TMS?

Hours after a case was registered against its top officials for allegedly abetting the suicide of Bollywood art director Nitin Desai, Edelweiss ARC on Friday denied that it had put pressure on him for repaying loans. Stating that it followed all legal processes mandated by the RBI, the Asset Reconstruction Company also clarified that Desai, who had defaulted on a Rs 252 crore loan, was not charged an excessive interest rate. Neither was the interest rate charged excessive nor was there at any time undue pressure being put on the borrower for recovery, the company said in a late evening statement. Earlier in the day, the Raigad police in Maharashtra registered a first information report against Edelweiss Group chairman Rashesh Shah and four others including officials from the ARC, for allegedly abetting Desai's suicide. Deputy Chief Minister Devendra Fadnavis had on Thursday told the state legislature that the investigators will probe whether Desai was charged high interest for the

MMFSL shares had plunged over 20% following the order in September, before recouping those losses by December

Lack of funding is limiting the ability of e-bus makers to participate in federal govt tenders to supply to states, the sources told, threatening to slow the electrification of major public transport

Only about 13% of the loans written off by the scheduled commercial banks during the last five financial years have been recovered

The report also said the trend in the loan recovery rate is also going down

Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery

People who fail to repay their loans are not criminals and they can't be harassed

The RBI action of barring M&M Financial from outsourcing recovery agents comes after the Harazibagh incident where a pregnant woman was mowed down to death

Court warnings and RBI's circular prohibit lenders and their agents from harassing or threatening debtors

Demand for consumer goods, automobiles, white goods has been holding momentum, which should translate into good credit off take for consumer financiers this festive season, analysts said

The bank's share closed at Rs 179.05 a piece on BSE, down 4.7% from its previous close while the broader Sensex was down 1.46%

Speaking on inflation, Guv Das said that had the monetary policy been tighter, the economic damage would have been enormous