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Jan 18th
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Ripple effects for banks as corporate loans turn bad

Banks are gradually experiencing the knock-on effect of corporate loans which have either become non-performing or are undergoing restructuring.

Retail loans, especially home loans, that banks have given to employees of such companies under the ‘corporate salary package’ are showing propensity to turn sour, say bankers.

The stress is particularly perceptible where employees, though continuing to be employed with the company which is in the throes of debt restructuring, have either not been receiving salaries or had to take a substantial pay cut.

Defaults are also gradually showing up in cases where employees have been retrenched by companies, which have turned non-performing for banks, but have not be able to find employment subsequently.

A loan becomes non-performing for a bank if interest and/or instalment of principal remain overdue for more than 90 days.


KFA needs to submit detailed plan to DGCA: Ajit Singh

New Delhi: Kingfisher Airlines will have to submit a detailed plan to the DGCA before they are allowed to resume flights, civil aviation minister Ajit Singh has said.

Srei downgrade lights up tussle with India Rating

Srei Infrastructure Finance had been warned about potential credit risks by rating agency India Rating back in March. However, India Rating failed to come out with fresh ...

On 'humanitarian grounds'bank release funds to KFA

State Bank of India  today said Kingfisher lenders have decided to release funds to the debt-ridden airline on "humanitarian grounds" considering that its employees have ...

Bad loans of banks to cross Rs 2 lakh crore by March 2013: Assocham

New Delhi: The net non-performing assets (NPAs) of the banking sector are expected to cross Rs 2 lakh crore by the end of March 2013, from Rs 1.57 lakh crore in June, mai...

PSU, other banks flock to portal for resolution of NPAs

Indian banks and financial institutions, which had cumulative non-performing assets (NPAs) worth about Rs 1.25 lakh crore by March 2012, are seeking help from a dedicated...

Lenders of Kingfisher Airlines to meet today to decide on loan recovery

Lenders of Kingfisher Airlines to meet today to decide on loan recovery
Kingfisher has been saddled with a huge loss of over Rs 8,000 crore and a debt burden of over Rs 7,000 crore.
News agency PTI reported that the crisis in Kingfisher Airli...

KFA can still avoid closure

Kingfisher Airlines has gone from bad to worse. The latest setback is a three-day suspension of services at the Indian carrier. But the worst outcome — liquidation — woul...

Barclays massive scale down continues: Will close down third of its nine branches

Mumbai: British banking major Barclays has decided to massively scale down its operations here by closing a third of its nine branches located in the non-metro areas, acc...
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