Mumbai, July 16 (IANS) The Reserve Bank of India (RBI) has issued final prudential norms for banks, small finance banks (SFBs) and non-banking financial companies (NBFCs), barring them from selling specified non-financial assets (SNFAs) acquired during the resolution of stressed loans back to the defaulting borrower or its related parties. The amendments have been issued under the RBI’s Resolution of Stressed Assets Directions 2026 for commercial banks, small finance banks and NBFCs.The new norm…
Latest SARFAESI Act News & Updates
New Delhi, June 10 (IANS) The Supreme Court has set aside the auction sale of a mortgaged property conducted by Indian Bank in 2010, holding that the sale was vitiated due to non-compliance with mandatory provisions of the Security Interest (Enforcement) Rules, 2002, and granted the legal heir of the deceased guarantor a one-time opportunity to redeem the property. A Bench of Justices Dipankar Datta and AG Masih allowed in part an appeal filed by M.R. Vasumathi, daughter of deceased guarantor G….
New Delhi, Jan 27 (IANS) In an extraordinary exercise of its powers under Article 142 of the Constitution, aimed at doing “complete justice”, the Supreme Court has granted relief to a widow who lost her husband during the second wave of Covid-19 by permitting her to settle a bank loan on relaxed terms and directed the Central Bank of India to release the title deeds of her residential property upon payment of a reduced amount. A bench of Chief Justice of India (CJI) Surya Kant and Justice Joymal…