Written by George Mathew, Sunny Verma | Mumbai, New Delhi | Updated: November 19, 2020 8:01:05 am A Lakshmi Vilas Bank ATM in Mumbai on Wednesday. (Express photo: Narendra Vaskar) After the bankruptcies of IL&FS, Punjab & Maharashtra Cooperative Bank and DHFL, and the rescue of Yes Bank, the decision …
Read More »RBI Seeks Vacation Stay in SC by NPA Account Ranking
The central bank also said the ruling undermines its regulatory mandate. In March, the RBI had allowed a three-month moratorium on the equivalent monthly installments (EMI) of term loans and other loans that mature between March 1 and May 31. The moratorium was subsequently extended until August 31. The superior …
Read More »Banks should not declare accounts as NPA until a new order is placed, says SC
India’s Supreme Court approved an interim order on Thursday saying that accounts not reported as non-performing assets (NPAs) as of August 31 will not be declared as NPA until further notice. The high court on Thursday heard a series of petitions seeking a waiver of interest on the loan moratorium …
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