S4A Plan: Banks want RBI to waive promoters personal guarantee, ask for fresh moratorium

Mumbai: Lenders have requested the Reserve Bank to exempt companies where they are looking to implement Scheme for Sustainable Structuring of Stressed Assets (S4A) from furnishing promoters’ personal guarantee. Under the S4A scheme, the joint lender forum is required to obtain promoters personal guarantee before implementing the stress asset resolution plan. Bankers said many of […]

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RECOMMENDATIONS / OBSERVATIONS OF PARLIAMENTARY STANDING COMMITTEE

The major recommendations are:- Accountability of nominee Directors of RBI / Ministry on the Bank Boards as well as the CMDs / MDs of banks should also be annexed in the matter. The Committee desires that the decisions taken to sanction loans in violation of norms/guidelines should also be enquired into, responsibility fixed, adequate penal […]

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African development Bank’s President thanks India for success of the annual meetings of the bank held in Gandhinagar

African development Bank’s President thanks India for success of the annual meetings of the bank held in Gandhinagar; Expects that all these meetings would substantially contribute to the AFDB’S new transformation agenda encapsulated in the High 5s – related to the fields of power, Agriculture(food security), connectivity (Transportation), industrialization(Skill Development) and Health. Press Information Bureau […]

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Ola money to compete with Paytm, Freecharge

Ola money to compete with Paytm, Freecharge BENGALURU: Taxi-hailing service provider Ola has launched a dedicated mobile payments app, Ola Money, putting it in direct competition with Paytm and Freecharge, among others. Valued at $5 billion, Ola started life as a cab aggregator. But it has been diversifying aggressively into new business segments over the […]

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