Remove tag banks
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Banks mull common framework on hearing borrowers before fraud tag

CFO News

A committee will be set up soon to draw up the framework, said the people cited above. It will detail the process of approaching borrowers, the documents to be submitted and reports to be given to them, along with timelines and the course of action.

Banking 52
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Why Is ERP So Expensive?

Navigator SAP

Many businesses miss out on the benefits of enterprise resource planning (ERP) because of the system’s price tag. Plus, with an SAP ByDesign reseller like Navigator Business Solutions, you can get ERP options that won’t break the bank.

SAP 130
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HDFC bonds can't retain infra tag after merger: RBI

CFO News

"The RBI has communicated to HDFC Bank that there is a technical hurdle in giving the infrastructure tag to bonds issued by the former HDFC Ltd because those were issued by an NBFC (non-banking finance company) and norms for treatment of bonds are different for banks and NBFCs," a person close to the development told ET.

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SC verdict on banking frauds opens a window for tagged borrowers to seek case review

CFO News

The Court's ruling does not debar banks from declaring accounts as fraud but it means that borrowers must be given an opportunity to be heard before their accounts are classified as such.

Banking 52
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Business parameters of companies improve after insolvency process: Study

CFO News

Some of the companies said that banks refused to remove the “defaulter” tag even after resolution, making it difficult for them to access loans. Wherever loans were available, the terms were a little tough.

Banking 52
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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

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