Tuesday, April 16, 2024

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loan defaults

China: Loan defaults hit record high, over 8.5 million people blacklisted

The Bank of China reported on September 1 that overdue unpaid credit in the first half of 2023 totaled RMB 89.646 billion yuan (approximately $12.3 billion), an increase of 3.54% compared to last year, VOA reported.

Banks recovered more than Rs 10 lakh crores from bad loans in the last nine years: Finance Ministry tells Lok Sabha

“Comprehensive measures have been taken by the Government and RBI to recover and to reduce NPAs, including those pertaining to corporate companies, which has enabled an aggregate recovery of Rs. 10,16,617 crore (RBI provisional data for FY 2022-23) by SCBs during the last nine financial years,” the written reply stated. 

Pakistan: Cabinet approves ordinance to sell government assets bypassing laws to repay loans

Shehbaz Sharif govt in Pakistan has passed an ordinance allowing it to sell govt assets to repay foreign loans

Fugitive businessman Vijay Mallya faces eviction from his luxurious London home over unpaid loans

Mallya family trust owned Rose Capital Ventures, which is based out of British Virgin Islands, mortgaged his London property in 2012 to UBS for a 5 year loan of 20.4 million pounds. In 2017, the loan had expired and Mallya was not able to pay the outstanding dues on it.

Uganda denies reports that China has taken over its only international airport using debt trap, seeks amendment of some loan clauses

China’s Director-General for African Affairs Wu Peng dismissed reports of China taking over Airport in Uganda as 'illogical propaganda'

PMC Bank gave 96.5 crores personal loan to builder after his company had defaulted on 2500 crores loan: Report

PMC Bank had total lendings at around 8300 crores and exposure to HDIL alone is reportedly at 31%.

Nirmala Sitharaman announces PSU bank reforms, mergers brings down their number to 12 from 27 in 2017

Union Finance Minister Nirmala Sitharaman briefed the media on Friday, announced the merger of many PSU banks.

Anti-Corruption Bureau unearth ₹177 crore loan fraud by J&K Bank officials and NCP leader’s son

NCP leader's son took loan from J&K using fraudulent means, settled it for much less amount by willfully defaulting

Special Indian team to assist UK authorities in London in contesting Vijay Mallya’s next appeal against extradition

With this, India intends to narrow down all possible avenues of relief for the 63-year-old former Kingfisher Airlines boss.

UK court denies Vijay Mallya permission to appeal against his extradition to India

The Indian authorities are trying hard to get Vijay Mallya extradited to India in his loan defaulting case

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