Insolvent Banking

Latest News for: Insolvent banking

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GN-Bank-Siphoned-62m---BoG

Peace FM Online 19 Aug 2019

The Central Bank last Friday struck once again when it announced a revocation of the licenses of some 23 insolvent savings and loans and finance house companies including GN Savings and Loans Ltd which is one of the many companies belonging to businessman, entrepreneur and politician, Dr....

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Growth is of highest priority: RBI Governor

The Hindu 19 Aug 2019

Weaker-than-expected growth with signs of slowdown is the key risk to global financial stability, though banks are more resilient to shocks, he said ... Das said that Insolvency and Bankruptcy Code amendments will help ring-fence banks, adding that state-run banks should be able to access capital from markets rather than depend on the government....

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[List] Savings And Loans Companies In Good Standing

Modern Ghana 19 Aug 2019

The Bank of Ghana (BoG) last Friday revoke the licenses of some savings and loans companies which it said were insolvent and could no longer meet the obligations of customers. The central bank 39;s action left 25 savings and loans companies in good standing. Below are the Savings and Loans companies ... Advans Ghana Savings and Loans Ltd ... ....

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Are the rate cuts enough to boost growth?

DNA India 19 Aug 2019

While the rate cut is 10 bps more than street estimates, it highlights that the central bank recognises the severity of the current slowdown ... Firstly, the banks do not pass on the full benefits of rate cuts to consumers ... The delay in IBC insolvency cases is hurting the banks, which continue to adopt a selective and cautious approach to lending....

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NCLAT rejects plea against approval of resolution plan of MBL Infrastructures

The Times of India 18 Aug 2019

The Kolkata bench of the National Company Law Tribunal (NCLT) had ordered to initiate insolvency proceedings against MBL Infrastructures in March 2017 over a plea filed by RBL Bank. Later, the NCLT had on April 18, 2018 approved the resolution plan by Lakhotia and this was challenged by the four banks before NCLAT....

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Bank of Ghana revokes licences of 23 Savings and Loans Companies

Ghana Business News 17 Aug 2019

The Bank of Ghana has revoked the licences of 23 insolvent savings and loans companies and finance house companies in line with the Banks and Specialised Deposit-Taking Institutions Act, 2016 ... In a statement, the Central Bank said the revocation of the licences of the 23 ......

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Funds-Available-To-Pay-Customers-Of-Collapsed-23-Savings-And-Loans-Finance-Houses

Peace FM Online 17 Aug 2019

The Bank of Ghana (BoG) has given the assurance that funds are available to pay depositors of the 23 savings and loans companies and finance house companies that have been shut down ... The BoG revoked the licences of the 23 companies because they were highly insolvent....

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No new round of bidding, NCLAT orders liquidation of Amtek Auto

Yahoo Daily News 17 Aug 2019

With the 270 days timeline for the corporate insolvency resolution process over, a bench headed by Justice SJ Mukhopadhaya on Friday ruled against a second round of bidding. A consortium of banks led by Corporation Bank had initiated insolvency proceedings against Amtek in July 2017....

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Ghana revokes licenses of 23 insolvent financial institutions

Xinhua 17 Aug 2019

17 (Xinhua) -- A total of 23 Ghanaian financial institutions have their licenses revoked because of insolvency, a statement from Ghana's central bank reached to Xinhua on Saturday ... Even after a reasonable period within which the Bank of Ghana has engaged with them in the hope that ......

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GN Savings is solvent, customers should remain calm – Dr. Nduom

Ghana Business News 17 Aug 2019

Shareholders and Management of GN Savings Limited, say they have not received any official communication from the Bank of Ghana (BOG) about the revocation of the company’s license for insolvency ... considering the detailed information provided the Central Bank nearly a year ago....

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How Prophet Nigel Gaisie prophesied the collapse of savings and loans companies

Modern Ghana 17 Aug 2019

News of the Central Bank rsquo;s revoke of licenses of twenty-three (23) insolvent savings and loans companies and finance houses with immediate effect has undoubtedly shaken the nation barely three months after some 386 microfinances suffered the same fate ... In a Facebook post weeks ago, Prophet Gaisie c ... ....

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QBiz: Amtek Auto to Be Wound Up; FM-PM Continue Talks on Economy

Yahoo Daily News 17 Aug 2019

Amtek Auto was among the first list of the 12 companies that were referred by the Reserve Bank of India (RBI) in 2017 to respective banks for the initiation of insolvency process for defaults ... Banking, IT Sectors Witness Highest Foreign Outflows in July ... Consult with Branches to Improve Services, Government Tells State-Run Banks....

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BoG-Shuts-Down-Nduoms-Savings-And-Loans-Company-And-22-Others

Peace FM Online 16 Aug 2019

The Bank of Ghana has, with effect from today, revoked the licences of twenty-three (23) insolvent savings and loans companies and finance house companies ... a Bank or Specialised Deposit-Taking Institution (SDI) where the Bank of Ghana determines that the institution is insolvent....