Page 7 - Loan Default News Today

The importance of safeguarding the ACC’s independence is a no-brainer. The key to the ACC’s effectiveness in delivering its mandate is independence, especially when setting the example that, in handling allegations of corruption, it is guided by equality before law, and not by the status or identity of the individual depending on their political, governmental, or other

Clandestine loan eats up banking sector, questioning transparency in financial sector

Clandestine loan eats up banking sector, questioning transparency in financial sector

Loan defaults and financial distress among long term care (LTC) facilities, such as skilled nursing facilities (SNFs), assisted living facilities (ALFs) and memory care facilities, are...

The Court said that in the absence of any input that the defaulting borrower was likely to flee India and such departure would disrupt or adversely affect the economy of the country, a request for LOC cannot be made.

Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans of Rs 4,059 crore, comprising both the principal and interest amount, Press Trust of India reported.

Bangladesh has long been suffering from a mounting defaulted loan crisis, due to which thousands of crores of taka have been embezzled, stolen or siphoned out of the country illegally. Non-performing loans (NPLs) has become burden on the our economy. Neither the Bangladesh Bank, nor the Anti-Corruption Commission (ACC) has been able to get their hands on the big loan

Since 2014, Kenya has been taking huge loans from China to fund infrastructure projects, some controversial - Anadolu Agency

These measures would help promote ease of doing business and dissuade people from wilfully indulging in issuance of cheques even though their accounts have insufficient funds.

Move by lenders to take a huge write-off after a year of administration underlines the difficulty of banks in realising defaulted debts.