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Union Bank of India allots 42,79,03,111 Equity Shares at Rs 33 82 per share
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A 50 point increase in your credit score can save you this much in loan interest payment
Synopsis
While many are aware that a high credit score helps in borrowing money, they are not sure how this works. Many would like to know how much discount in terms of lower interest rate on a loan they can get if they improve their credit score.
While borrowing, who would not like to get the lowest interest rate from the lender? However, the reality is that the lowest rate is offered only to a few select borrowers. These rates are mostly offered to borrowers with a high credit score. We tell you how a good credit score can help you save big on interest payout and what you can do to get one.
CFM Asset Reconstruction Company sole bidder for debt laden JBF Industries
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Synopsis
JBF has been marked as a non performing asset (NPA) for many years now and a bid for the company has come amid a surge in commodity prices giving bankers an opportunity to settle a legacy bad loan which has been 100% provided by most lenders.
Agencies
Ahmedabad-based CFM Asset Reconstruction Co has emerged a surprise bidder for polyester maker
JBF Industries with a Rs 800 crore out-of-court resolution plan to settle the Rs 2,000 crore debt of the stressed company.
JBF has been marked as a non-performing asset by lenders for several years now and a bid for it has come amid a surge in commodity prices, giving bankers an opportunity to settle a legacy bad loan which has been 100% provided by most of them.
Union Bank of India opens QIP, floor price fixed as Rs 35 60
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C Sivasankaran is facing investigations by the authorities for causing a loss to banks
CHENNAI: IDBI Bank has said that it has accepted the one-time settlement offer by Siva Industries’s promoters a part of Aircel owner C Sivasankaran’s group as it would lose more money otherwise.
IDBI Bank had initiated bankruptcy proceedings against Siva Industries in 2019. The loans were availed by a group company that later merged with Siva Industries. Sivasankaran is facing investigations by the authorities for causing a loss to banks.
According to banking sources, IDBI Bank has already written to the CBI, whichhas confirmed that commercial dealings will not affect the criminal investigation process. “Recovery for the bank through one-time settlement will be higher vis-a-vis recovery through NCLT liquidation based on the valuation of assets available as security.
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