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63Moons moves NCLT against Piramal ascribing ₹1 value to DHFL’s ‘recoverable’ assets April 25, 2021 × 63Moons Technologies has dragged Piramal Capital and Housing Finance to the National Company Law Tribunal (NCLT) for ascribing ‘₹1’ value to the assets or transactions of Dewan Housing Finance Corporation (DHFL) that, it says, have a recovery potential of more than ‘₹40,000 crore’. DHFL, one of India’s largest housing finance companies, is in the midst of insolvency proceedings and Piramal’s Request for Resolution Plan (RFRP) to acquire the company was approved by t...

Steady operation of banking industry in Belarus ensured Pavel Kallaur MINSK, 15 April (BelTA) – Steady operation of the banking industry is ensured in Belarus, BelTA learned from Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Pavel Kallaur at a press conference on 15 April. The official said: “The previously accumulated durability reserve has allowed the banks to absorb the shocks we encountered last year and this year and provide the necessary support to the economy. Despite a decrease in individual financial indicators primarily due to the realization of cr...

Date Time Banks unite to help customers experiencing financial abuse Australian banks are launching updated guidelines on financial abuse as part of their continued focus on responding to family violence and elder abuse. The updated industry-wide approach is designed to ensure bank staff are equipped to recognise signs of financial abuse. “This kind of behaviour is a form of domestic violence. It can be an enabler for partners to keep women trapped in abusive and often dangerous relationships”, said ABA CEO Anna Bligh. “It’s also used against the elderly. Elder abuse can take many f...

RLO repeal would reduce ‘policy creep’: CAFBA subscribe A A As politicians debate the bill to repeal responsible lending, CAFBA has said that repealing the obligations would help reduce any “grey area” when it comes to commercial lending. On Monday (15 March), the National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020 – which focuses on amending the credit laws so that they remove responsible lending obligations (RLOs) and extend the best interests duty to more credit assistance providers, among other changes – was debated in Parliament during its s...

With the federal government adamant stimulus needs to be wound back, the Reserve Bank will need to become a lot more creative if it wants to engineer a sustained recovery, writes Ian Verrender.