Giving new meaning to the phrasal verb, "to have some (one/individual/person/nation) by the balls"! -------------------------------- "Top CBI officials said the agency’s banking probe unit has also scrutinised cases of loan restructuring, a common route taken by the defaulters to escape immediate loan repayments. As the probe advances, the investigating agency would also probe the suspected complicity of bank officials in question. Sometime ago, Reserve Bank of India Deputy Governor K.C. Chakrabarty had in a full paper on corporate debt restructuring quoted statistics, revealing that the restructured advances ratio to gross advances had gone up from 4.87 per cent in March 2009 (a year after financial crisis peaked) to 8.24 per cent in March 2012. By the 2012-13 financial year-end, it shot up to 10 per cent. Today, the estimated gross outstanding advances are pegged at Rs.50 lakh crore, putting the restructured debt figure at roughly Rs.5 lakh crore compared to Rs.2 lakh crore as recorded four years ago."
Posted on: Fri, 23 Aug 2013 06:22:01 +0000