IL&FS moves NCLT for direct line with creditors

To file an application under Section 230 of Companies Act with an aim to propose a plan for settlement of dues.

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Bank of Baroda board to meet on September 29 to consider merger proposal

Earlier this month, the government announced plans to merge Bank of Baroda, Vijaya Bank and Dena Bank to create the country's third largest lender as part of efforts to revive credit and economic growth.

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YES Bank board seeks extension for Rana Kapoor, forms search panel

The Reserve Bank of India had refused to extend Yes Bank's current CEO Rana Kapoor's tenure.

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NPAs on the decline, recoveries rising, says Arun Jaitley after key review meet with PSBs

The rise in recoveries is not only on the back of resolution in NCLT but also because debtors are compelled to pay up for fear of NCLT proceedings.

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Finance minister Arun Jaitley asks PSU banks to take effective action against frauds, wilful defaults

Reviewing the performance of state-owned lenders, he exuded confidence that formalisation of the economy would help India achieve sustainable growth of 8 per cent.

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India LIC chairman says all options open to revive IL&FS

IL&FS has revealed a series of delays and defaults on its debt obligations and inter-corporate deposits in recent days.

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NHAI owes only Rs 425 crore to IL&FS: Officials

The company has also claimed about Rs 4,000 crore for issues related to four national highway (NH) projects it is implementing, the official said.

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No more commission for PSB staff for cross-selling products

A letter from the dept of financial services to bank chiefs says that commission should instead be paid to the bank as income.

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Rana Kapoor mustn't influence board in its new CEO search: Madhu Kapur

In a letter addressed to the board on Monday, a day before the bank’s board meet, Madhu Kapur asked the board to send Rana Kapoor on leave till January 31 and called for a forensic audit on loans sanctioned by Rana Kapoor.

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RBI's appointments division okayed Rana Kapoor's extension for 3 years

This view was later rejected by toplevel RBI officials, including the deputy governor and the governor, and Kapoor got only a short extension till January 2019.

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Sidbi may take IL&FS to National Company Law Tribunal

Such a move could exacerbate the chaos in the markets sparked by IL&FS defaulting on repayments and having its debt rating downgraded.

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Canara Bank drags GTL, GTL infrastructure to insolvency court

The infrastructure company said that Canara Bank’s allegations are “illegal” and “unjustifiable” .

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Yes Bank board to meet Tuesday after RBI directive on Rana Kapoor's tenure

The RBI cut short the tenure of Yes Bank's CEO Rana Kapoor and permitted him to continue only until January 2019.

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