According to the Reserve Bank data, Scheduled Commercial Banks (SCBs) have done aggregate recovery of ₹10,16,617 crore during the last nine financial years. According to the Central Repository of Information on Large Credits the total funded amount outstanding of SCBs to corporate company borrowers, which was classified as NPA and had an amount outstanding of ₹1,000 crore or more was ₹1,03,975 crore as on March 31, 2023.
27 Jul 2023The London court said the lenders, including IDBI Bank, can enforce an Indian court ruling that relates to allegations that Vijay Mallya willfully defaulted on about $1.4 billion in debt for his now-defunct Kingfisher Airlines
1 min read8 May 2018India's fledgling bankruptcy regime is turning both karmic and American. Eat, pray, love; applaud the shift
3 min read23 Nov 2017The tax department has asked taxmen to take aggressive steps against wilful tax defaulters, including blocking their PAN and not allowing them to register immovable property where PAN is compulsory
1 min read21 Jun 2016The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared