BANKLOOT
Moneylife Digital Team 23 December 2022
During the past five financial years, scheduled commercial banks (SCBs) wrote off bad debts worth Rs10.09 lakh crore.

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IANS 23 December 2022
The Central Bureau of Investigation (CBI) has registered a case on a complaint from Union Bank of India against a Kolkata-based private company, its directors and others for cheating a consortium of banks to the tune of Rs 4037.87 crore.

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IANS 16 December 2022
The Central Bureau of Investigation (CBI) on Friday registered two fresh FIRs against fugitive businessman Mehul Choksi,

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Moneylife Digital Team 16 December 2022
The UK High Court (HC), which last month dismissed an appeal filed by fugitive diamond merchant Nirav Modi,

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Winsome Diamonds was a massive corporate default that burst on the business world sometime in 2013—in the same manner as Gitanjali Gems and Niraav Modi.

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Canara Bank, the country's fourth-largest public sector bank (PSB), continues to write off bad loans of big defaulters who have borrowed Rs100 crore and more.

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Following the footsteps of State Bank of India (SBI) and Bank of Maharashtra, another public sector lender, Indian Overseas Bank (IOB), has decided to keep hidden this year the names of big defaulters who have borrowed Rs100 crore and more, which were written off from its books.

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While public sector banks (PSBs) continue to refuse to share names of big defaulters citing 'confidentiality of customer data', information shared by the Reserve Bank of India (RBI), reveals that just 312 big defaulters owe more than 76% or Rs1,41,583.50 crore of the total bad loans.

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Moneylife Digital Team 08 August 2022
The directorate of enforcement (ED) has recorded around 515 cases of bank fraud in public and private sector banks,

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State Bank of India (SBI) has again refused to share the names of borrowers who owe Rs100 crore or more, even to its shareholder. Over the past nine years, from FY14 till FY22, SBI has written off bad loans of over Rs145,248 crore of big defaulters while recovering just over 13% from these big defaulters.

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The state-run Bank of Maharashtra (BoM) has written off bad loans of over Rs11,204 crore of 42 big defaulters and Rs2,548.13 crore of small borrowers since FY14.

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Moneylife Digital Team 06 April 2022
All scheduled commercial banks (SCB) operating in India have cumulatively written off loans of Rs2,02,781 crore in FY21.

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Moneylife Digital Team 28 March 2022
The Congress party has asked for a comprehensive white paper on the bankruptcy proceedings while accusing the government of protecting defaulters through huge write-offs through the insolvency process via the Insolvency and Bankruptcy Board of India (IBBI).

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Moneylife Digital Team 22 March 2022
Primarily due to transparent recognition of stressed assets as non-performing assets (NPAs), the gross NPA of public sector banks (PSBs) rose to Rs8.96 lakh crore as of 31 March 2018 from Rs2.79 lakh crore as of 31 March 2015.

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Hemindra Hazari 07 February 2022
In the ongoing IndusInd Bank microfinance saga, we earlier learned of a “technical glitch” whereby the bank generously disbursed loans to customers without their consent.

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Investors, depositors and employees of RBL Bank, and those whose job it is to track the banking world, had their Christmas celebrations rudely disrupted with a bombshell communication to stock exchanges from its board of directors.

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On 20th December, the wire agency IANS put out a sensational report which suggested that yet another diamantaire, like Nirav Modi, had squirreled away a whopping Rs6,710 crore from IDBI Bank.

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Moneylife Digital Team 16 December 2021
I-T Dept Finds Unholy Nexus between Borrowers and ARCs in Buying Stressed NPAs

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Moneylife Digital Team 14 December 2021
The non-performing assets (NPAs) of public sector banks (PSBs) have almost doubled over the past seven years to Rs5.40 lakh crore, the Rajya Sabha was informed on Tuesday.

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Moneylife Digital Team 29 November 2021
While lenders harass individual or small borrowers to the point of even releasing the borrowers’ photos to the press for publishing them, it appears that big corporate defaulters are bestowed with immunity from such humiliation.

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