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Non-performing assets According to RBI data, the mega write-off exercise has enabled banks to reduce their non-performing assets (NPAs) or defaulted loans by Rs 10,09,510 crore ($123.86 billion) over the last five years. However, banks have only been able to recover 13% of it so far. Concerning the news This massive write-off would have been enough to cover 61% of India's projected gross fiscal deficit of Rs 16.61 lakh crore in 2022-23. As of March 2022, the banking sector reported a decrease in gross NPAs to Rs 7, 29,388 crores, or 5.9 percent of total advances. In 2017-18, gross NPAs…
28 November, 2022
NPA
Personal guarantors liable for corporate debt Insolvency and Bankruptcy Code, 2016 It deals with debt default of companies and limited liability entities, partnership firms and individuals. It was based on T K Vishwanathan Committee on Bankruptcy Law Reforms Committee (BLRC) in 2014. It proposes a framework to ensure early detection of stress in a business, initation of the insolvency resolution process by the debtor, financial creditor or operational creditor; the liquidation of unviable business and avoiding the destruction of the value of the failed business. The Code separates commercial aspects of the insolvency proceedings from judicial aspects. IPs will deal…
22 May, 2021
NPA
Sudarshan Sen Committee for Asset Reconstruction Companies by RBI Reserve Bank of India(RBI) has set up the Sudarshan Sen committee to review the working of Asset Reconstruction Companies (ARCs) Comprehensively. About Asset Reconstruction Company (ARC): Asset Reconstruction Company (ARC) is a specialized financial institution that buys the Non-Performing Assets (NPAs) from banks and financial institutions. It helps banks in cleaning up their balance sheets. Thus, it helps banks to concentrate on normal banking activities. Banks, Instead of going after the defaulters, can focus on selling their bad assets to the ARCs at a mutually agreed value. Regulated by: SARFAESI (Securitization…
21 April, 2021
NPA
Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 IBC (Amendment) Ordinance, 2021 Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 promulgated on 4th April, 2021 provides for pre-packaged insolvency resolution process (PPIRP) for corporate debtors classified as micro, small and medium enterprises. The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 (PPIRP Regulations) today to enable operationalisation of PPIRP. The PPIRP Regulations detail the Forms that stakeholders are required to use, and the manner of carrying out various tasks by them as part of the PPIRP. These provide details…
11 April, 2021
NPA
Analysis of the suspension of the Insolvency & Bankruptcy Act Post-Lockdown NPA Scenario Context: Banking and NPA is an important topic under UPSC Mains for Economy and every year around 3-4 Questions come in Prelims related to Banking and terminologies. Hence, Insolvency and Bankruptcy Act, 2016 is important. What is NPA? Money or assets provided by banks to companies as loans sometimes remain unpaid by borrowers. This late or non-payment of loans is defined as Non-Performing Assets (NPA). They are also termed as bad assets. In India, the RBI monitors the entire banking system and, as defined by the country’s…
23 December, 2020
NPA
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