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In case of Loan Default, Know Your Rights if You Can’t Repay – Due to COVID-19 pandemic,there are mass scale losses of jobs & income. Borrowers are defaulting on their EMI payments. This is to remember that even if a borrower defaults, they do not surrender all rights to the asset or to fair treatment. […]
Opinion on Idea of Bad Bank, and it’s benefit for Public Sector Banks – The Indian Banks’ Association, IBA has requested the Government to set up a ‘Bad Bank’ to reduce the impact of the losses banks will face because of higher provisioning for Non performing Assets, NPAs. What is Bad Bank ? It is […]
Syndicate Bank is troubling with higher NPA in past few quarters and recent reply by the bank against a RTI query shows that agriculture loans worth Rs 10,253 crore disbursed by Syndicate Bank have turned into non-performing assets (NPAs) in the last five fiscal years until March 2018. Read – Syndicate Bank National Common Mobility Card […]
A big relief for lenders and bad news for defaulter of loan or credit card payment or someone who are evading the bank by not receiving their calls or changing your residence ? – Bombay High Court has ruled that the Legal notice or messages sent through WhatsApp messaging app are valid legal evidence under […]
The finance ministry under Enhanced Access and Service Excellence (EASE) programme has directed all state-run banks to publish the names and photographs of all wilful defaulters on their websites. Earlier, The government has asked all state-run banks to examine non-performing loans of more than Rs 50 crore for any sign of fraud. What is RBI’s New […]
Reserve Bank of India (RBI) has unveiled new guidelines for recognizing default loans and how to resolve them. This new guidelines by Reserve Bank will help in early detection of Non performing assets. Further, RBI has also dictated the penalties on bank in case of failure to recognize. The new rule is implemented to specify norms […]
Will you agree with me ? NPA growth in Private banks are much higher than Government PSB’s. If compare the growth of Bad loans or NPA (Non performing Assets) among Private and Public Sector Bank, it is Private sector banks who are adding bad loans at a much faster pace than their public sector counterparts over […]
What could be worst that this ? Once the iconic brand of Indian consumer durable segment ‘Videocon’ is now defaulter to Public sector bank. Videocon loan account with Dena Bank is declared by lender as ‘Bad’ and classified under None Performing Assets (NPA). Read : Does Banking Act amendments Really help in Resolving NPA’s ? Account […]
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