Banks in talks with NESL to set up loan registry, information utility
"The aim is to increase the efficiency in exchange of information in the consortium arrangement," said a senior bank executive aware of the developments, adding that the proposed structure will provide for loan identity number, monitoring mechanism, stock statement maintenance and DP allocation.
PMC Resolution: Large depositors can expect faster payoutAccording to the draft scheme, the first pay-out for retail depositors above Rs 5 lakh will start from year one, faster than the second year pay out as per the draft scheme. Instititutional depositors can also expect a preference shares alloted to them in case recoveries from the major fraud account of HDIL Group exceed the principal.
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