Page 54 - Banking Finance January 2018

2 Nation's Digital Infrastructure 2 e-Wallet: Possibilities & Future 3 RERA: A boon for homebuyers
built by NPCI Rajeev Shankar Vishvajeet Kumar
P Dhanasekaran 3 Impact of GST on finance sector/ 4 India's Midnight 'Tryst' - GST
3 Levy & Collection of Tax loan industry rolled out to modernize the
CA. R C Guria CA Amit Mittal Muddled up Tax Structure
Tabassum Saifi
4 Payment Banks- Yet another
4 DICGC - For whom the bell rings?
challenge or a Survival Threat December 2017
Sandeep Gupta
Rakesh Bhootda 1 Evaluating the Project: Speed
September 2017
5 How banking Industry is using Thrills but Kills!
1 Framework of pearls analysis automation for collecting & Dr B K Mukhopadhyay
M. Sharmila Devi & recovering loans 2 BHIM Invasion
Dr. A. Muthumani Limesh Parekh Prabhat singh Suman
2 Levy & Collection of Tax (Contd.) November 2017 3 Institutional Funding and
CA. R C Guria 1 Taking Technology to the Next Incentives to Startup Companies
Level for Enhanced Customer in India
3 Pre-Paid Cards: A new way of
Experience Dr. A. Amruth Prasad Reddy,
Digital Payment
Deenanath Jha Dr. S. Subba Reddy & K. Maddileti
M. V. L. N. Suresh
2 A Study of Industrial Finance and 4 Angel investor and crowd funding
October 2017
its Contribution towards Rising a comparative study with Indian
1 Changing Contours of Banking- Non-performing Assets of Psu perspectives
"Who Cares Pawn" Banks Dr. N. R. Nagarajan &
Praveen Kumar Srivastava B. B. Lenka M. J. Senthilkumar
Insolvency code to keep out wilful defaulters

The Cabinet approved the promulgation of an Ordinance to amend the Insolvency and Bankruptcy Code, which is ex-
pected to bar wilful defaulters from buying back their own stressed assets. Finance Minister Arun Jaitley, who made
the announcement after the Cabinet meeting, declined to provide details. But sources said the proposed Ordinance is
expected to streamline the selection of buyers and stop wilful defaulters from buying back stressed assets they previ-
ously owned.
Accordingly, a new section will be inserted to list persons ineligible to be 'Resolution Applicants'. These would include
wilful defaulters, undischarged insolvents, disqualified directors, persons who have indulged in preferential transac-
tions or under-valued transactions or fraudulent transactions as determined by the adjudicating authority, and persons
who are promoters or in the control of such persons whose account is classified as non-performing assets beyond a
prescribed duration. The Ordinance would also prescribe basic eligibility criteria for resolution applications, depending
on the size of the business. Additionally, it is understood to provide a robust due diligence framework to help the Com-
mittee of Creditors assess creditworthiness, credibility and other parameters.
LIC may participate in bank recapitalization programme

State-owned Life Insurance Corporation may be roped in to participate in the Rs. 2.11 lakh crore recapitalisation ini-
tiative for public sector banks (PSBs). As part of the programme, LIC could also increase its stake in various PSBs which
are required to raise Rs.58,000 crore from the capital market, sources said. Besides, they said, LIC could participate in
a non operating holding company (NOHC) structure to which the government may transfer its share in various PSBs.
NOHC could then issue recapitalisation bonds worth Rs. 1.35 lakh crore. However, government has said that nature of
bonds and who will issue them would be decided in the due course.

54 | 2018 | JANUARY | BANKING FINANCE

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