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Lenders again move RBI on wilful defaulter tag for non-performing accounts

CFO News

Banks have again approached the Reserve Bank of India (RBI) to request an extension in the deadline for classifying non-performing accounts as wilful defaulters, according to sources familiar with the matter.

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India's no longer 'fragile', can weather global market volatility

CFO News

In the face of global financial market turbulence, India's rupee appears more resilient due to a narrowed current account deficit (CAD) and bolstered forex reserves. Increased exports post-pandemic buffered the CAD, keeping it manageable at 2% in FY23 despite soaring commodity prices.

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Banks reject proposal by corporates to club 'fraud' A/Cs & 'wilful defaulters'

CFO News

Banks have come together to reject a proposal by corporate lobbies to club borrowers tagged as 'fraud' accounts with 'wilful defaulters'.

Banking 52
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Bajaj Hindusthan sugar proposes second restructuring plan

CFO News

Delays in payments had meant the account was tagged as NPA in the fourth quarter of last fiscal. The company owes a group of 10 lenders led by State Bank of India (SBI) a total of ₹4,900 crore. However, the company cleared its outstanding dues in the last three months and has proposed a fresh payment schedule to banks.

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A Corporate Finance Approach To High-Net-Worth Individuals

PYMNTS

These cases include individuals and family offices with business-sized needs, with business-sized challenges in accounts payable, expense management and payroll. The company also typically obtains view-only access to a client’s credit card accounts to code and process payments, he added.

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10 Weekend Reads

Barry Ritholtz

( Big Think ) • School of Hard Laughs : A rabbi, Jay Leno and a Proud Boys lawyer walk into a bar … for Adam Carolla’s inaugural Comedy Fantasy Camp. Bloomberg ) Be sure to check out our Masters in Business next week with Michael Carmen , who is the Co-Head of Private Markets at Wellington Management.

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Cloud resources financial management as key to business innovation

Future CFO

Not using appropriate tools, technologies and tagging for success. Financial operations management has emerged as a radical new approach to managing organisations' cloud spending. The lack of a clear, strategic vision that aligns KPIs to outcomes. Not understanding costs and trends at a granular level.