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Auction: Banks won t auction stressed loans covertly

Banks in India will no longer be able to secretly auction off stressed loans under a new framework agreed upon by high-street banks. The decision to auction loans must now be notified to all key players in the market, ending the practice of keeping potential bidders in the dark. Banks have also established a timeline to close such deals within seven working days after receiving final approval from lending banks.

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arc body: ARC Body calls for safeguards against filing of criminal cases

The Association of Asset Reconstruction Companies has appealed for the intervention of the finance ministry in order to issue an advisory that directs state governments to prevent the lodging of criminal cases against lenders and its officials. The current criminal cases against lenders have been seen as intimidation tactics which may lead to recovery efforts being stalled.

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ARC industry body questions sale process of VIPL - The Hindu BusinessLine

ARC industry body questions sale process of VIPL - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

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