Now becoming an NPA is a more serious problem for the borrowers. Earlier plethora of laws governing recovery was used by the borrower to their advantage to delay the process. Thanks to the new law which is coming up soon and approved by both the houses of Parliament.
The message from the bill is clear. Restructure, repay or wind up. Read more..
The NPA is a fraction of the problem for Indian banks. They will employ a team of lawyers and / or sell NPA to ARCs to get rid of such accounts. They will get capital from the Govt.
But for entrepreneurs having an NPA, it is the mega problem for them. Their other good accounts will get affected; no one will lend them, they will be at a risk of selling of property mortgaged to the bank. It’s a very stressful situation. Mostly most small NPAs are not willful but ignorant NPAs. Read more.
I spent my day today with Tim Ferriss and Seth Godin.
Yes, it was more than three hours of lessons from these people.
If you want to invest your weekend in a more meaningful way, just click on the links below and hear them out.
Know the difference between a painter and an artist, daily blogging, education in the future and a lot more. He is the author of 18 bestselling books and yes he has not used snooze button since 1977. -Continue Reading...