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A USD 2 billion fraud at Indias Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the banks own internal probe has found.

PNB's NPA recovery in first quarter tops FY 2018 level

The Insolvency and Bankruptcy Code (IBC) resolution process has greatly helped Punjab National Bank.

15 July 2018 3:48 PM IST

Finance Minister Nirmala Sitharaman, while talking to reporters, said states too will have to make efforts in improving the business climate in India, especially with regard to property registration. (Photo: File)

Sitharaman promises further GST simplification to help India improve...

India has jumped 14 places to rank 63rd in the World Bank's ease of doing business ranking index and the country aims to...

24 Oct 2019 4:07 PM IST

Indian economy in transition phase, growth to come back: SBI Chairman

Growth can come back. Because of a lot of (reforms), economy is in transition, said SBI chief Rajnish Kumar.

24 Oct 2019 12:36 PM IST

$\There is an imminent crisis in the NBFC sector. There is a credit squeeze, over-leveraging, excessive concentration, massive mismatch between assets and liabilities, coupled with some misadventures by some very large entities, which is a perfect recipe for disaster,\ Injeti Srinivas said.$ Business

Govt mulls raising Rs 1 lakh default threshold for invoking IBC:...

The banks should be looking at other options for recovering loans before invoking the IBC, said Corp Affairs Secy Injeti...

14 Oct 2019 10:18 PM IST

The rules of the new insolvency regulations to bring individual businesses under its purview are likely to be in place soon. (Representational Image)

Govt plans to amend IBC to ring-fence buyers of stressed assets from...

The move will help make the insolvency process more attractive for the bidders and instil confidence in them, sources...

24 Nov 2019 5:29 PM IST

With only 11 per cent of fresh slippages during the quarter being from standard restructured loans, Icra said that corporate slippages outside the vulnerable book continued.

Insolvency cases are getting delayed

As on December 31, 2018, rating agency Icra said 898 CIRP's were awaiting a resolution.

30 Jan 2019 1:34 AM IST

The rules of the new insolvency regulations to bring individual businesses under its purview are likely to be in place soon. (Representational Image)

ECB route opened for funding insolvency cases

Guidelines in this regard will be issued by the end of this month.

8 Feb 2019 1:34 AM IST

Under the companys plan, Answers will lower its debt by $471 million, according to documents filed in Manhattans US Bankruptcy Court.

Insolvency law's objective is reorganisation of defaulting firms:...

Insolvency and Bankruptcy Code provides a framework for market-driven and time-bound resolution process.

31 March 2019 4:54 PM IST

Injeti Srinivas said on Wednesday that the amendments, as and when implemented, would be prospective in nature.

Over 12,000 cases filed since implementation of insolvency law, says...

Corporate Affairs Secretary Injeti Srinivas said the NCLT has been very expeditious in disposing cases related to...

26 March 2019 12:42 PM IST

Jet Airways stock ended the day at Rs 604.35, down 1.55 per cent from the previous close on BSE.

Creditors-company negotiations better than insolvency: govt official...

In afternoon trade, shares of Jet Airways rose nearly three per cent to Rs 232.35 on the BSE.

25 March 2019 1:36 PM IST

Jet Airways did not commission the creative being shared on social media platforms, in context of a recent event concerning another domestic airline, the statement said. (Photo: AFP/File)

Jet Airways crisis: Lenders keen on non-IBC resolution in case bidding...

Running into debt of more than Rs 8,500 crore, Jet Airways has shut down operations temporarily.

21 April 2019 11:34 AM IST

The rules of the new insolvency regulations to bring individual businesses under its purview are likely to be in place soon. (Representational Image)

Creditors recover nearly half of total claims in 88 insolvency cases

Claims totalling a little over Rs 1.42 trillion were admitted in 88 cases under IBC till Feb 28, IBBI data showed.

15 April 2019 2:02 PM IST