unsecured loans

The government has written to the RBI asking it to consider classifying loans to the infrastructure sector as secured lending to increase the flow of funds to the sector, a finance ministry official told. As per RBI guidelines, loans given to infrastructure sector specially, road, construction, telecom and ports, fall under the unsecured category as there is no tangible asset that can banks can take-over in the case of default to secure their loan. Full Article

The transaction involves a global acquisition of a banking business by the Purchaser from the Seller. Consequent thereto, all assets and liabilities in India will be acquired by the Purchaser from the Seller. The acquisition of the assets and liabilities in India will either be through: (a) slump sale process, in which the undertaking as a going concern will be transferred by the Seller to the Purchaser for a lump sum consideration, or (b) through a court approved scheme.. Full Article