Do you know the meaning of ‘Non-Cooperative Borrowers’?

The definition of Non-Cooperative Borrowers is originally defined in RBI circular dated 26.02.2014 on ‘Frame work for Revitalizing Distressed Assets in the Economy-Guidelines on Joint Lenders’ Forum (JLF) and Corrective Action Plan (CAP). The definition of a Non-Cooperative Borrower as contained therein is modified by RBI on December 22,2014, which reads as under: “A non-cooperative…

Recovery through award of LOK ADALAT

Recovery through award of Lok Adalat is the easiest and fastest mode of recovery. The literal meaning of Lok Adalat is people’s Court. The concept comes under the ‘Alternative Disputes Redressal Mechanism’ like arbitration, conciliation etc. The pre-litigation up to Rs.20 lacs and suit filed accounts where plaint amount does not exceed Rs.20 lacs can be…

What is RuPay card?

RuPay cards are gaining momentum as a domestic card payment network in India. The RuPay cards payment network is similar to international payment card networks like Visa International and MasterCard. The National Payment Corporation of India (NPCI), a Government of India undertaking, has launched RuPay cards in March 2012.  Since its inception, this domestic network has started…

Principles of Lending

The principles of lending revolve mainly around the concepts of safety, profitability and liquidity of advance. The criteria for lending get changed or modified from time to time in response to changing the state of the economy. Traditionally commercial banks in India used to provide security oriented finance to trade and industry. Big industrial houses…