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23rd June 2017 Part-2: Daily News Analysis
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DNA Part -2

Jatin Verma is teaching live on Unacademy Plus

Jatin Verma
Have appeared in UPSC CSE thrice. Have been taking Unacademy Plus courses Academics- Polity, Economics & Current Affairs.

Unacademy user
where we can ask question. plz anyone of u can help me out in finding question and answer sectiom
Just a thought over the issue of 55 accounts to face IBC : Many peoples would be there those may have not paid the returns, so in this case (taking Mr. Vijay Malya's case) maybe RBI would be afraid that if they make their names public then these fellows probably could run away anywhere and then bank will only get air in their hands. On the other hand if the case is dealt with IBC then there are greater chances of getting money back in much lesser time as compared to fighting a case in ICJ which also requires much money. This was just a rough guess. I too agree with you for making there names public so that they could feel the shame...!!
Ananta Shankar
3 years ago
the defaulters know that they are defaulters. so they can't just run if their names are made public, they can do so now too. Also Vijay Mallya has a British citizenship which not everyone has.
Harsh John
3 years ago
there are 512 defaulters as we know maye more could be there but we just have the proper information about 12. and jab problem aati hi to usse bhagne ki bohot raste nikal aate hi or kisi country ko jaruri to ni hi ki log legally hi chhde you can understand what i wanna say..12 me se ek to foreign country ki citizenship ko owe krne wale hoga lets say 2 honge.. to enka to kharcha hme hi uthana pada... ab bo investment etna high ho jata hi ki uska jada benifit hme ni mil paata.. ab manlo agar koi person kisi or way se country se nikal ke bhag gya to bo paisa to pura gya.. or agar matter indian court me jaata hi to case ladne ke paise to baise bhi bank ko bharne padte hi.. and as you already know there are 18/1000000 judges per person in our country so filing a case and fighting it till to get the results would be a long term process to better to yahi hoga ki kyu na 6 months me sab theek krlo.... bcoz jo comitty banni hi bo to bnegi hi, maybe ban chuki hi against money laundring to jab paisa ek place me invest kiya hi to uska kuchh result bhi to chahiye . well I just wanna say that these could be some possibilities in my point...
Harsh John
3 years ago
abhi ek or point aaya ;) lets say we've got to know their names. Then in future whenever they wanna invest so many private companies would think many time before providing them loans. This would again result in lowering of the investments in manufacturing sector which will decrease the produce and many people would not buy them because of their repotetion so this will again harm our economic growth. Many are there but now lets see it when any question will arose in any analysis so ill just ask the point of sir to please say that why they are doing like this.
sir the institution u enlisted in insolvency process...are these institutions made each time a new case is filed??
many borrowers are not willful defaulters (as not proved yet) , so publishing their name in public will just only hurt the business or entrepreneurial spirit of those. if borrowing is done by companies , then personal properties of management/board can not be attached. if NPAs are there then businessman's also have incurred losses. since bank give loan (debt finance), so they will have first is the stockholders, who will suffer most. and above all banks do business , so if losses occur to companies due to genuine reasons, then banks also have to share the burden because it is the fault on their part too that they did not understand the situation (either project, business plan or external factors etc). IF proved willful defaulter then name them. personal views based on limited knowledge.
NATGRID is not a central agency. It ia juatan information sharing tool or mechanism or a programme. Source: 1. 2.
  1. Daily The Hindu News Analysis 23rd June 2017 By Jatin Verma Educator Unacademy unacademy For Editorial Analysis & English video,Visit my Unacademy Profile-

  2. NATGRID can soon access PAN, -T records. The Centre has empowered the National Intelligence Grid (NATGRID), the integrated mechanism to keep track of security-related data, to access the Income Tax department's dividual taxpayers as well as PAN card holders. NATGRID and the l-T department could sign a pact soon to operationalise the data sharing arrangement. . Background: NATGRID was planned in the wake of the Mumbai attacks of November 2008. NATGRID is a centralised agency which stores sensitive personal information on citizens from almost two dozen agencies to be made available for counter-terror investigations. It will be an attached office of the Ministry of Home Affairs. It's role: NATGRID will become a secure centralised database to stream sensitive information from various sets of data sources such as banks, credit cards, visa, immigration and train and air travel details, as well as from various intelligence agencies. . The database would be accessible to authorised persons from II agencies on a case-to-case basis, and only for professional investigations into suspected cases of terrorism.

  3. . Page 12:World News: Mosul in shock as IS blows up 850-year-old mosque. Al-Nuri Mosque has been destroyed as jihadists, closed in by lraqi army, were retreating Page 13 Business News Centre to rejig Air India's debt:Centre's primary focus was to restructure the airline's debt before it can reach out to potential buyers. ndi' dee primary focus vas to resr 1profitof 105 | -For the first time in almost a decade, the airline registered operational profit of 105 . The Centre will also seek to negotiate afresh with banks to take over a portion of debt . A consortium of lenders crore in 2015-16.The airline is showing signs of revival operationally. as equity in the airline even as such negotiations in the past have failed its debt in exchange of equity. had earlier rejected Air India's proposal to waive off a part of

  4. Business Page: Resolve 55 accounts in six months or face IBC: RBI . RBl has asked banks to find solution for 55 identified NPA accounts within 6 months otherwise the central bank would examine those cases and refer for resolution under the Insolvency and Bankruptcy Code (BC), The banking sector is saddled with NPAs of over 8 lakh crore, of which 6 lakh crore is with public sector banks (PSBs). The RBI had earlier identifed 12 cases which account for 25% of bad loans. The 12 identified cases account for 2 lakh crore of NPAs. Process: IBC has defined time-frame for the resolution and there is 14-day time period for admission or rejection of a case by National Company Law Tribunal. After a case is accepted by NCLT, the creditor would get 30 days to hire insolvency practitioners and then the entire process to be completed in 180 days which will look at various possibilities including revival of projects or liquidation.

  5. Page 1: Loan waivers are on you, Finance Minister tells States. 13 June 2017 On Farm Loan waiver: The situation where the Centre will help one State and not the others will not arise. On bad loans: Reserve Bank of India is at an advanced stage of preparing a list of debtors whose cases will be considered for speedy resolution through the Insolvency and Bankruptcy Code (IBC) process. . There are five stages after the company files a Bankruptcy petition: One, when a loan default occurs, and either the borrower or the lender approaches the NCLT or DRT for initiating the resolution process. Two, the creditors appoint an interim Insolvency Professional (IP) to take control of the debtor's assets and company's operations, collect financial information of the debtor from information utilities, and constitute the creditors' committee Three, the committee has to then take decisions regarding insolvency resolution by a 75% majority. ginsolvency resolution bya 75%

  6. Four, once a resolution is passed, the committee has to decide on the restructuring process that could either be a revised repayment plan for the company, or liquidation of the assets of the company.If no decision is made during the resolution process, the debtor's assets will be liquidated to repay the debt. Five, the resolution plan will be sent to the tribunal for final approval, and implemented once approved. . It proposes creating new institutions: Insolvency Professionals, who will conduct the insolvency resolution process, take over the management of a company, assist creditors in the collection of relevant information, and manage the liquidation process, * Insolvency Professional Agencies, who will examine and certify these professionals, Information Utilities, which will collect, collate and disseminate financial information related to debtors, and Insolvency and Bankruptcy Board of India, a regulator that will oversee these new entities