ADVERTISEMENT
Tuesday, October 3rd 2023
Today's Paper
The Kashmir Monitor
🔒 Log in
💲 Contribute
No Result
View All Result
  • LatestLive
  • News
  • Kashmir
  • India
  • World
  • Politics
  • Editorial
  • Business
  • Sports
  • Education
  • Health
  • Tech-Film
  • Auto
  • Crypto
  • Travel
The Kashmir Monitor
  • LatestLive
  • News
  • Kashmir
  • India
  • World
  • Politics
  • Editorial
  • Business
  • Sports
  • Education
  • Health
  • Tech-Film
  • Auto
  • Crypto
  • Travel
The Kashmir Monitor
No Result
View All Result

Extradition of Mallya to speed up loan recovery: SBI

Agencies by Agencies
Dec. 13, 2018 Updated 12:29 am. IST
A A
Extradition of Mallya to speed up loan recovery: SBI

Mumbai: Country’s largest lender SBI today said extradition of fugitive liquor baron Vijay Mallya from the UK to India will speed up the recovery of over Rs 9,000 crore of loans.

ADVERTISEMENT

In a major boost to India’s efforts to bring back Mallya, who is wanted for loan default worth around Rs 9,000 crore to a consortium of 13 banks led by SBI, a UK court yesterday ordered his extradition.

AlsoRead

Today is the Last Day to Exchange ₹ 2,000 Notes: Questions Arise About Their Post-Deadline Validity

SEC Postpones Ruling on Four Bitcoin Spot ETF Applications in Anticipation of Government Shutdown

Over 100 Online Gaming Companies May Face Investigation in GST Evasion Case, Says Report

“It (higher recovery of loans) is a possibility. The message is very loud and clear. What we have to understand is that it (extradition) is a message that you just can’t default and run away from the country,” SBI chairman Rajnish Kumar told reporters here.

He said Mallya’s extradition will have a deep impact on the overall lender and borrower relationship.

“Lending is an important business for both lenders and borrowers as we need investment in the country. But the message is that you have to do clean banking and you have to be very careful about what is the purpose of the money lent,” said Kumar.

ADVERTISEMENT

Mallya has been fighting a legal battle against his extradition to India, claiming that he has been falsely dubbed as a defaulter.

Tags: Business

Comments 1

  1. Avatar of escort bodrum escort bodrum says:
    4 years ago

    Good info. Lucky me I discovered your blog by chance (stumbleupon).
    I have saved as a favorite for later!

Facebook Twitter Youtube Instagram Whatsapp
Logo

© 2023 The Kashmir Monitor - All rights reserved.

No Result
View All Result
  • Home
  • Latest News
  • Lead Stories
  • News
  • Kashmir
  • India
  • World
  • Politics
  • Education
  • Business
  • Environment
  • Health
  • Sports
  • Editors’ Picks
  • Videos
  • Lifestyle
  • Tech-Film
  • Today’s Paper

© 2023 The Kashmir Monitor - All rights reserved.