• Welcome to Tamil Brahmins forums.

    You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our Free Brahmin Community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

    If you have any problems with the registration process or your account login, please contact contact us.

Mallya effect! Government asks all state banks to invoke personal guarantees in case

Not open for further replies.



Mallya effect!

Government asks all state banks to invoke personal guarantees in cases of default

NEW DELHI: The government has raised the pressure on defaulters asking all state-run banks to invoke personal guarantees submitted in case a borrower company defaults.

"We have issued the circular after consultation with Reserve Bank of India as it was observed that banks were invoking personal guarantees as the last step towards recovery process. We do not want them to wait for eternity as it has been in the case of Kingfisher AirlinesBSE 3.03 %," said a senior finance ministry offic ..

Read more at:
Now, there is a gossip in the bank circles that investigations revealed that Mallyya has already transferred around 6500 crores of the proceeds of the loan to foreign countries.
It appears that deliberate, preplanned and sustained effort has been made by Mallayya,to cheat the banks.
Not open for further replies.

Latest ads

Thank you for visiting TamilBrahmins.com

You seem to have an Ad Blocker on.

We depend on advertising to keep our content free for you. Please consider whitelisting us in your ad blocker so that we can continue to provide the content you have come here to enjoy.

Alternatively, consider upgrading your account to enjoy an ad-free experience along with numerous other benefits. To upgrade your account, please visit the account upgrades page

You can also donate financially if you can. Please Click Here on how you can do that.

I've Disabled AdBlock    No Thanks