Latest News for: Bankrupt bank

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Banks cast net far and wide to recoup losses from Hin Leong collapse

Splash24/7 24 Jun 2021
The banks’ actions are not just against the bankrupt trader but against the multitude of shipowners, traders, and cargo owners unconnected to events at Hin Leong but who are now caught up in the nightmare of the spectacular collapse by dint of participating in the bunker markets.
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How did BharatPe win a rare banking license?

Hindustan Times 21 Jun 2021
BharatPe, a barely three-year-old payments startup, is going to be the half-owner of a bank in India — a prize that has eluded many of the country’s pedigreed tycoons ... Punjab & Maharashtra Co-operative Bank collapsed after it made 70%-plus of its loans to one bankrupt shantytown developer.
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How did a startup win a rare banking license in India?It is a lucky break

Deccan Herald 21 Jun 2021
BharatPe, a barely three-year-old payments startup, is going to be the half-owner of a bank in India — a prize that has eluded many of the country’s pedigreed tycoons ... Punjab & Maharashtra Co-operative Bank collapsed after it made 70%-plus of its loans to one bankrupt shantytown developer ... bank.
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How did a start-up win a rare banking license in India?

Business Line 21 Jun 2021
BharatPe, a barely three-year-old payments start-up, is going to be the half-owner of a bank in India — a prize that has eluded many of the country’s pedigreed tycoons ... Punjab & Maharashtra Co-operative Bank collapsed after it made 70 per cent-plus of its loans to one bankrupt shantytown developer.
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How BharatPe won a rare banking license in India

Live Mint 21 Jun 2021
BharatPe, a barely three-year-old payments startup, is going to be the half-owner of a bank in India — a prize that has eluded many of the country’s pedigreed tycoons.  ... Punjab & Maharashtra Co-operative Bank collapsed after it made 70%-plus of its loans to one bankrupt shantytown developer.
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What does it take for DFIs to succeed?

Business Line 20 Jun 2021
It is true the DFIs were bankrupt and unable to survive once subsidised government finance was cut off ... For example, the Chinese Development Bank was initially bankrupt but became profitable and extremely successful after a professional management adopted international financial standards and practices in the late nineties.
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How Bulgaria hit rock bottom on press freedom

Al Jazeera 18 Jun 2021
He was eventually taken to the police station and released several hours later ... ‘The EU increased corruption’ ... Marinos gave an example from his fieldwork with TV7, a channel linked to Tsvetan Vasilev, former board chairman of the now-bankrupt Corporate Commercial Bank (CCB) ... Half of the building was TV7, the other half was the [CCB] bank ... .
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BSE Sensex, NSE to suspend trading in DHFL shares from today

Hindustan Times 14 Jun 2021
It comes after the National Company Law Tribunal (NCLT) approved the Piramal Group's resolution plan for the bankrupt-DHFL ... DHFL went bankrupt with more than ₹90,000 crore in debt to various lenders, including banks, mutual funds and individual investors, who kept fixed deposits with the company.
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Envisioning an architect's dream house

Arkansas Democrat-Gazette 13 Jun 2021
Prolific Frank W ... The family lived there until 1912, then, because they were bankrupt, moved to the Capitol Hotel. "His taste in architecture did not reflect his bank account," Toms said. Charles L ... Noland Blass (1920-1998), known for elegant structures like the Worthen Bank Building (now the Bank of America), "never found a style he liked," Toms said.
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NSE suspends trading of DHFL shares

Live Mint 12 Jun 2021
As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank ... DHFL had gone bankrupt with more than ₹90,000 crore in debt to various lenders, including banks, mutual funds and individual investors who kept fixed deposits with the company.
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For businesses and individuals, COVID-19-created new normal will take some adjusting to

Gulf News 11 Jun 2021
Early 2020, while in India to see my hospitalized mother, I had to fly back within a week’s time for some can’t-be-put-off commitments in the UAE. I thought I could fly back later, because that is how easy life – and the process of travel - had been ... A 'new normal' and its rules ... Firms going bankrupt are unable to pay-off their suppliers and banks ... .
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For businesses and individuals, the COVID-19 created new normal will take some adjusting to

Gulf News 11 Jun 2021
Early 2020, while in India to see my hospitalized mother, I had to fly back within a week’s time for some can’t-be-put-off commitments in the UAE. I thought I could fly back later, because that is how easy life – and the process of travel - had been ... A 'new normal' and its rules ... Firms going bankrupt are unable to pay-off their suppliers and banks ... .
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China’s Evergrande headache turns into a migraine

Reuters 09 Jun 2021
In focus is troubled Shengjing Bank (2066.HK), but larger institutions are involved too ... The result could be another collapse similar to that at Baoshang Bank, which was turned into a piggy bank by an insurance company and went bankrupt in 2020.
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The ‘hearing aids’ helping corporate India to listen better

Indian Express 09 Jun 2021
Reactions to expanded corporate roles in farming and banking suggest every Indian entrepreneur deserves an episode in Bad Boys Billionaires ... Not surprisingly, many bankrupt companies have entrepreneur holdings above 50 per cent because banks allowed them to borrow or steal their equity.
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British investigators seize cash from fraudster Virendra Rastogiafter 13-year hunt

The National 08 Jun 2021
British investigators have seized £248,000 ($351,168) from the architect of an international metal trading scam who was jailed for duping banks out of hundred of millions of dollars ... A British court more than a decade ago ordered him to pay back $360m but he refused and was declared bankrupt.
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