#NPA Resolution

[finlender2]

CIRP (Corporate Insolvency Resolution Process) - FinLender

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[townpostin]

INCAB's Financial Creditors Face Scrutiny in NCLT Hearing

Jamshedpur Cable Company’s Insolvency Case Takes Unexpected Turn Allegations of illegitimate creditors and discrepancies in claimed liabilities cast doubt on INCAB’s insolvency proceedings, potentially impacting resolution. JAMSHEDPUR – A National Company Law Tribunal (NCLT) hearing in Kolkata saw dramatic developments in the case of Jamshedpur-based cable company INCAB, as the legitimacy of its…

[zvaigzdelasas]

Authorities will re-engage with the New People’s Army (NPA), the military wing of the Communist Party of the Philippines (CPP), for the first time in six years, both parties and facilitator Norway announced on Tuesday. “The parties agree to a principled and peaceful resolution of the armed conflict,” the two sides said in a joint statement, adding that the peace talks will address “deep-rooted socioeconomic and political grievances”.

If negotiations succeed, the rebels will end their armed struggle and transform into a political movement, according to Norway, which has mediated the island nation’s peace process for around 20 years. Despite the progress, the government announced no immediate ceasefire and said operations against the armed group would continue. However, military chief Romeo Brawner was hopeful an eventual peace deal would enable the armed forces to fully focus on “external or territorial defence”, rather than domestic conflict.

28 Nov 23

[pannaginip]

ABS-CBN: Bayan Muna condemns terrorism charge vs activists

Party-list group Bayan Muna has condemned the filing of anti-terrorism charges against its secretary general, Nathanael Santiago, as well as Anakpawis Campaign Director Servillano Luna, Jr., ASCENT Convenor Rosario Brenda Gonzalez, and Bulacan Ecumenical Forum volunteer Anasusa San Gabriel.

“The use of trumped-up charges, in conjunction with red-tagging, creates a toxic environment that undermines the principles of justice and human rights. We strongly and firmly reject these reprehensible tactics and demand an end to the harassment and persecution of activists and members of the political opposition,” Bayan Muna said.

In the counter-affidavit filed by Santiago before the Nueva Ecija Office of the Provincial Prosecutor, he denied the charges for attempted murder and murder under the Anti-Terrorism Act as well as violation of the Philippine Act on Crimes Against Humanitarian Law, Genocide and other Crimes Against Humanity.

Santiago said at the time of the supposed crime, he was working as Bayan Muna secretary general at the office of the party-list group in Quezon City.

Similarly, in the counter-affidavit of Gonzalez, she said was busy for a book launch during the first three weeks of October, with photos and testimonies attached.

2024 May 3

Activist Renato Reyes Jr. on Twitter @natoreyes:

Four activists have been charged under the draconian Anti Terror Law. They are known activists Nath Santiago, Jun Luna, Brenda Gonzalez and Ansusa San Gabriel. Nath was himself an SC petitioner vs the terror law. Now he is charged under the same provision he questioned at the SC

This marks the first time national leaders or personalities have been charged under the ATL. The complaints were filed by the AFP in Nueva Ecija, They claimed the 4 participated in an armed encounter between the AFP and NPA - a completely blatant lie and a fabrication.

In 2020 we warned that the ATL will be abused by state forces to stifle dissent and suppress progressive organizations. That is exactly what is happening now with the filing of these trumped up “terror” charges in different regions.

Imagine being charged with terrorism, and not knowing you were facing charges because they sent subpoenas to a different address, to another activist already reported missing. Then finding out there’s already a resolution even without the fiscal hearing your side.

Late February na lang nila nalaman na may kaso pala sila sa Nueva Ecija. Buti nakapaghabol ng motion at nakapag file ngayong araw ng kanilang counter-affidavit. Inaabuso ang “terror law” laban sa mga aktibista, at kahit sa mga totoong rebolusyonaryo. [It was only in late Feb that they found out about these cases against them. It was fortunate that they were able to file counter-affidavits in time. The "terror law" is being abused to thwart activists, even the true revolutionaries.]

2024 May 3

[kennak]

1．概要 3月26日、外務省、警察庁、財務省、経済産業省は、「北朝鮮IT労働者に関する企業等に対する注意喚起」を公表しました。 2．参考資料 令和６年３月 26 日 北朝鮮 IT 労働者に関する企業等に対する注意喚起 国際連合安全保障理事会北朝鮮制裁委員会専門家パネルは、これまでの国際 連合安全保障理事会決議に基づく対北朝鮮措置に関する報告書において、北朝 鮮は、IT 労働者を外国に派遣し、彼らは身分を偽って仕事を受注することで収 入を得ており、これらが北朝鮮の核・ミサイル開発の資金源として利用されてい ると指摘しています。 また、2022 年５月 16 日、米国が、国務省、財務省及び連邦捜査局（FBI）の 連名で、このような北朝鮮 IT 労働者による活動方法や対応策等をまとめたガイ ドラインを公表したほか、同年 12 月８日、韓国が、外交部、国家情報院、科学 技術情報通��部、統一部、雇用労働部、警察庁、公正取引委員会の連名で、同様 のガイドラインを公表しました。さらに、2023 年 10 月 18 日、米国及び韓国が 共同で北朝鮮 IT 労働者に関する追加的な勧告を行うための公共広告（PSA）を 発表するなど、北朝鮮 IT 労働者に関してこれまでに累次の注意喚起が行われて います。 我が国に関しても、北朝鮮 IT 労働者が日本人になりすまして日本企業が提供 する業務の受発注のためのオンラインのプラットフォーム（以下「プラットフォ ーム」という。）を利用して業務を受注し、収入を得ている疑いがあります。ま た、北朝鮮 IT 労働者が情報窃取等の北朝鮮による悪意あるサイバー活動に関与 している可能性も指摘されており、その脅威は高まっている状況にあります。 この点、北朝鮮に関連する国際連合安全保障理事会決議は、加盟国において収 入を得ている全ての北朝鮮労働者の送還を決定するとともに、いかなる資金、金 融資産又は経済資源も、北朝鮮の核・ミサイル開発の利益のために利用可能とな ることのないよう確保しなければならないと規定しているほか、このような北 朝鮮 IT 労働者に対して業務を発注し、サービス提供の対価を支払う行為は、外 国為替及び外国貿易法（昭和 24 年法律第 228 号）等の国内法に違反するおそれ があります。 各企業・団体においては、経営者のリーダーシップの下、北朝鮮 IT 労働者に 対する認識を深めるとともに、以下に挙げるような手口に注意を払っていただ きますようお願いいたします。また、プラットフォームを運営する企業において は、本人確認手続の強化（身分証明書の厳格な審査、テレビ会議形式の面接の導 入等）、不審なアカウントの探知（不自然な情報の登録が通知されるシステムの 導入等）といった対策の強化に努めていただきますようお願いいたします。 【北朝鮮 IT 労働者の手口】 ○ 北朝鮮 IT 労働者の多くは、国籍や身分を偽るなどしてプラットフォーム へのアカウント登録等を行っています。その際の代表的な手口として、身 分証明書の偽造が挙げられます。また、日本における血縁者、知人等を代 理人としてアカウント登録を行わせ、実際の業務は北朝鮮 IT 労働者が行っ ている場合もあります。この場合、当該代理人が報酬の一部を受け取り、 残りの金額を外国に送金している可能性があるほか、当該送金には、資金 移動業者が用いられることがあります。 ○ 北朝鮮 IT 労働者は、IT 関連サービスの提供に関して高い技能を有する 場合が多く、プラットフォーム等において、ウェブページ、アプリケーシ ョン、ソフトウェアの制作等の業務を幅広く募集しています。 ○ 北朝鮮 IT 労働者の多くは、中国、ロシア、東南アジア等に在住していま すが、VPN やリモートデスクトップ等を用いて、外国から作業を行ってい ることを秘匿している場合があります。 ○ そのほか、北朝鮮 IT 労働者のアカウント等には、次のような特徴がみら れることが指摘されています。業務上関係するアカウントや受注者にこれ らの特徴が当てはまる場合には、北朝鮮 IT 労働者が業務を請け負っている 可能性がありますので、十分に注意してください。 （主にプラットフォームを運営する企業向け） □ アカウント名義、連絡先等の登録情報又は登録している報酬受取口座 を頻繁に変更する。 □ アカウント名義と登録している報酬受取口座の名義が一致していな い。 □ 同一の身分証明書を用いて複数のアカウントを作成している。 □ 同一の IP アドレスから複数のアカウントにアクセスしている。 □ １つのアカウントに対して短時間に複数の IP アドレスからのアクセス がある。 □ アカウントに長時間ログインしている。 □ 累計作業時間等が不自然に長時間に及んでいる。 □ 口コミ評価を行っているアカウントと評価されているアカウントの身 分証明書等が同一である1。 （主に業務を発注する方向け） □ 不自然な日本語を用いるなど日本語が堪能ではない2。また、そのため テレビ会議形式の打合せに応じない。 □ プラットフォームを通さず業務を受発注することを提案する3。 □ 一般的な相場より安価な報酬で業務を募集している。 1 口コミによる評価を向上させるため、関係者間で架空の評価を行っている場合が想定さ れます。 2 機械翻訳を用いている場合が想定されます。 3 手数料負担の軽減、契約関係の継続等を目的としていることが想定されます。 □ 複数人でアカウントを運用している兆候がみられる4。 □ 暗号資産での支払いを提案する。 【問合せ先】 北朝鮮 IT 労働者の関与が疑われる場合には、プラットフォームの管理責任 者に相談するほか、関係機関に御相談ください。 ・ 警察庁警備局外事情報部外事課 npa-gaiji-it-toiawase@npa.go.jp ・ 外務省北東アジア第二課 ahoku2-toiawase@mofa.go.jp ・ 財務省国際局調査課対外取引管理室 450062200000@mof.go.jp ・ 経済産業省商務情報政策局情報技術利用促進課 bzl-it-joho-toiawase@meti.go.jp 【参考資料】 〇「安保理北朝鮮制裁委員会専門家パネル２０２３年最終報告書（Final report of the Panel of Experts submitted pursuant to resolution 2680 (2023）」（令和６年３月７日安保理提出） https://undocs.org/S/2024/215 ○「Guidance on the Democratic People’s Republic of Korea Information Technology Workers」（令和４年５月 16 日） https://ofac.treasury.gov/media/923126/download?inline ○「Additional Guidance on the Democratic People's Republic of Korea Information Technology Workers」（令和５年 10 月 18 日） https://www.ic3.gov/Media/Y2023/PSA231018 ○「Advisory on the Democratic People’s Republic of Korea Information Technology Workers」（令和４年 12 月８日） https://www.mofa.go.kr/eng/wpge/m_25525/contents.do 4 北朝鮮 IT 労働者は、チームで活動しているとの指摘があり、応対相手が時間帯によって 変更されることなどが想定されます。

「北朝鮮IT労働者に関する企業等に対する注意喚起」の公表 （METI/経済産業省）

[ask-emilz-de-philz]

Emilio: "BASTOS TO A."

(( XDD ayan e, binawalan e sa trading. XDD di sila prends. ))

Anyway, Philippines and North Korea relations:

"During the Korean War, the Philippines allied with South Korea, against North Korea.

Efforts to establish formal ties between the two countries began as early as the 1970s, but such efforts saw no significant development by the 1980s. Factors hindering such efforts include the Philippines' traditional anti-communist foreign policy at that time as well as suspicions that North Korea had been supporting the Communist Party of the Philippines and its armed wing, the New People's Army (NPA).

Limited North Korean support to the NPA was alleged by a 1990 report of the Patterns of Global Terrorism by the United States Department of State.

It was also reported in the early 2010s, that North Korea proposed to establish a resident embassy in Manila, which Philippine officials rejected. The rejection was reportedly due to Philippine authorities' suspicion on North Korean diplomats as they were deemed to have a reputation to conduct "extra-diplomatic activities" such as smuggling and counterfeiting in other foreign countries. Philippine Foreign Secretary Siazon insisted that North Korea had never made such request. However, he remained open to the expansion of diplomatic ties between the two countries.

The Philippines, as an ally of South Korea and the United States, remains concerned and continues to condemn North Korea's nuclear missile tests which is considered to be in violation of United Nations Security Council resolutions banning North Korea to use ballistic technology in any purpose."

SOURCE: https://en.wikipedia.org/wiki/North_Korea%E2%80%93Philippines_relations

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[connorthemaoist]

Marco Valbuena | Chief Information Officer | Communist Party of the Philippines

August 01, 2023

The Marcos regime and its military and police forces must be roundly condemned for the increasingly malevolent use of the deceitfully named Anti-Terrorism Law (ATL) in their heightened campaign of suppression against various democratic forces, critics, and political opponents.

Over the past few weeks, human rights defenders and members of cause-oriented organizations have been “designated” as “terrorists” by the Anti-Terrorism Council or charged in court for “terrorism” in a patently arbitrary manner, without due process and in utter violation of broadly accepted standards of judicial processes.

The ATL is now being used as a tool for suppression with impunity. The most recent victim of the draconian ATL is Hailey Pecayo, a 19-year old human rights worker, who earned the ire of the Armed Forces of the Philippines (AFP) for having actively exposed the role of the military for the killing of a nine-year old child in Batangas last year. She is now being charged by the AFP under the ATL, together with other members of their human rights group.

Before Pecayo, at least six others, including Windel Bolinget and three other members of the Cordillera People’s Alliance (CPA), were tagged as “terrorists” by the ATC. In a much earlier resolution, Dr. Natividad Castro, a medical doctor working for the Karapatan Alliance in Mindanao, was similarly tagged by the ATC. It is particularly noteworthy that the ATC resolutions against Bolinget and Castro both came after courts dismissed false charges filed by the AFP linking them to armed actions of the NPA.

The use of the ATL as a tool of suppression has now reached absurd and brazen levels with the ATC “designating” Congressman Arnolfo Teves and 12 others accused of perpetrating the March 4 killing of former Negros Oriental Governor Noel Degamo. Marcos officials have resorted to using the ATL against Teves after failing to build up a court case him. Aiming the ATL against Teves also serves as warning of the extent that Marcos will use the law for his purposes.

The CPP denounces the use of the ATL as a weapon of political suppression. The Party also expresses its continuing protest against the “terrorist designation” of the CPP, the New People’s Army and the National Democratic Front, of its leaders and representatives, and others being linked to the revolutionary cause.

Despite the September 21, 2022 ruling of the Manila Trial Court dismissing the petition filed by the government to declare the CPP and NPA as “terrorists” under the Human Security Act (the former name of the ATL), the Marcos regime and its agents insist on pinning the “terrorist” tag as part of its systematic campaign against all patriotic and democratic forces.

In light of the heightened attacks against the broad democratic sectors using the ATL, the Filipino people’s demand for the abrogation of the draconian law has become even more urgent. All democracy-loving people must make a stand and lend their voice to the struggle to defend the people’s rights and freedoms against state repression.

The Party supports the Filipino people’s clamor to end the so-called “war on terror” which, in fact, is a camouflage for unbounded state terrorism. This fascist framework has long been abused by the Philippine ruling class state, in order to justify the systematic erosion of the people’s civil and political rights.

The military and security establishment has used the “war on terror” to claim extraordinary powers to assert domination over society, take control of the functions of civilian agencies of government and carry out any and all acts of state suppression with gross impunity.

[acquisory]

Insolvency and Bankruptcy Code — IBC-BOON OR BANE

Introduction

The Insolvency and Bankruptcy Code (IBC), 2016 has been enacted to merge the existing laws related to insolvency and bankruptcy. The IBC involves standard steps which is viable and understandable. So, everyone, be it creditors, debtors, companies, or shareholders etc. shall have a standard perform for any matters relating to insolvency.

“The IBC has been a real game changer in the Indian economy’s business reform initiatives in the last twenty five years. Ease of doing business is ironically the base premise for enacting the comprehensive Code to exit from the business.”

The IBC has made a spectacular progress in short span. The recent orders issued by the Adjudicating Authorities are beginning to have profound impact on defaulting business owners as the message is loud and clear “settle dues or cede control”.

Why was IBC enacted?

Initially there was Presidency Towns Insolvency Acts, 1909 which was applicable in Kolkata, Chennai and Mumbai and the Provincial Insolvency Act 1920 for the rest of India, for regulating the insolvency laws. The Act applied to individuals and partnerships but exempted corporations from within its ambit. Post Independence, the bankruptcy and insolvency were specified in Constitution and with the passage of time there were numerous acts which governed Insolvency and bankruptcy issues such as the Sick Industrial Companies (special provision) Act, 1985 (“SICA”), SARFAESI Act, 2002, the Recovery of Debts due to Banks and financial institutions Act, 1993 (“RDDBFI Act”), Companies Act, 1956 as well as Companies act, 2013.

But these regulations have not yielded satisfactory results. These regimes were high fragmented, borne out of multiple judicial forums resulting in lack of clarity and certainty of jurisdiction. Further, we had various adjudicatory bodies/Tribunals to deal with such issues and matters under different Acts stated above.

So, this led to the unclear knowledge about the authority as to whom the parties should approach in the related matters. Hence, this resulted in overlapping of decisions. There was no common regulatory authority to regulate the rights of the secured or unsecured creditors, employees etc. or to determine the priority of their claims. Large number of stressed assets such as NPAs with low recovery rates due to a lack of enabling environment for the enforcement of creditor’s rights. Moreover there was no adequate or credible data regarding the assets, indebtedness etc. of companies which further heighten the problems. Hence large number of legislations and non-statutory guidelines have made the recovery of debt a complex and time consuming process.

The IBC is a welcome overhaul which has directly addressed in resolving the insolvency and bankruptcy issues of corporates and simultaneously serving creditors and public financial institutions by helping them in recovery of bad and distress loans and ultimately tackling Non Performing Assets. The Main objective of Code is distribution of the effects of a debtor in the most expeditious, equal and economical mode. The Code lays down the complete procedure of Insolvency Resolution process which involves collating claims and reviewing the requisite financial and other relevant records of the company. The introduction of this Code has brought in ample opportunities for professionals ranging from being appointed as official liquidator to managing the financial health of corporates in case of distressed assets.

Present Scenario

Today we have IBC, 2016, which provides a…

Read more: https://www.acquisory.com/ArticleDetails/52/Insolvency-and-Bankruptcy-Code--IBC-BOON-OR-BANE

[gyanfry]

JM Financial Ltd Share Price, 21.18% Rise in Investor's Wealth Within 5 Days, What Company Do?

JM Financial Ltd Share Price Increased: JM Financial Ltd's stock has surged 5.97% today on NSE. Over the past five days, it has gained 21.18%, while in the last six months, the share price has increased by 35.87%. Investors are now keen to understand what’s fueling this rapid rise in JM Financial Ltd share price. Founded in 1973, JM Financial Ltd operates across four major business segments: Investment Banking, Wealth Management, and Securities Business (IWS), Mortgage Lending, Distressed Credit, and Asset Management. The IWS segment, which includes institutional and retail brokerage as well as wealth management, has been a key driver of the company’s growth. Strong demand for financial advisory services and investment banking activities has propelled this segment, positively impacting the JM Financial Ltd share price. The company’s Mortgage Lending business has also been resilient, benefiting from rising demand for home loans in India. Additionally, JM Financial’s expertise in Distressed Credit management has positioned it as a key player in the resolution of non-performing assets (NPAs), an area that has seen increased focus in India. With a market capitalization of ₹122.80 billion and a P/E ratio of 29.5, the stock is currently trading at a high valuation, reflecting investor confidence in its future earnings potential. Its global presence in Singapore, Dubai, and the U.S. has further strengthened its international client base. And it's interesting to see what's more this JM Financial Ltd Share Price brings in the future market. Read the full article

[finlender]

 In the dynamic financial landscape of India, Non-Performing Assets (NPAs) have emerged as a significant challenge for banks and financial institutions. At Finlender, we aim to demystify NPA funding, providing clarity and insight into its mechanisms and implications.

What are NPAs?

NPAs, or Non-Performing Assets, are loans or advances for which the principal or interest payment remains overdue for a period of 90 days. NPAs are classified into three categories: substandard assets, doubtful assets, and loss assets. They indicate a deterioration in the quality of the bank's loan portfolio, impacting profitability and financial stability.

The Impact of NPAs

The high volume of NPAs has multiple adverse effects:

1- Reduced Profitability: Banks face reduced income due to non-receipt of interest payments.

2- Increased Provisions: Financial institutions must set aside a portion of their profits as provisions to cover potential losses, impacting their overall financial health.

3- Erosion of Capital: Persistent NPAs can lead to a significant erosion of a bank's capital base, affecting its ability to lend further.

NPA Funding: An Overview

NPA funding involves financial strategies and instruments designed to manage and resolve NPAs. It includes the following key aspects:

1- Asset Reconstruction Companies (ARCs): ARCs purchase NPAs from banks at a discounted rate, thereby cleaning up the banks' balance sheets. They then work on recovering the loan amounts through various strategies, including restructuring the loans or liquidating the underlying assets.

2- Debt Restructuring: Financial institutions may restructure the terms of the loan, such as extending the repayment period, reducing the interest rate, or converting a part of the debt into equity. This helps in making the debt more manageable for the borrower and increases the likelihood of recovery.

3- Government Initiatives: The Indian government has introduced various schemes and measures to address the NPA issue. Initiatives like the Insolvency and Bankruptcy Code (IBC) and the establishment of the National Asset Reconstruction Company Limited (NARCL) aim to streamline the resolution process and enhance recovery rates.

4- Stressed Asset Funds: Specialized funds are set up to invest in distressed assets. These funds have a higher risk tolerance and expertise in turning around non-performing assets, providing a viable solution for banks to offload their NPAs.

How Finlender Can Help

At Finlender, we offer a range of services to assist banks and financial institutions in managing NPAs effectively:

Advisory Services: Our team of experts provides strategic advice on NPA management, helping institutions devise effective resolution plans.

Asset Valuation: Accurate valuation of distressed assets is crucial for effective resolution. Finlender offers comprehensive asset valuation services.

Investment Solutions: We facilitate investments in stressed assets through our network of investors and specialized funds.

In conclusion, NPA funding is a critical component in maintaining the health of the banking sector in India. At Finlender, we are committed to providing innovative solutions and expert guidance to navigate the complexities of NPA management. By leveraging our expertise, financial institutions can achieve better recovery rates and ensure long-term financial stability.

READ MORE...NPA and OTS Finance Private Equity Project Finance Corporate Finance Company in India Finlender

[npaconsultan]

NPA Recovery Roadmap for Borrowers: Bank Debt Management Tips?

Recovering Non-Performing Assets (NPAs) involves a strategic roadmap and effective debt management techniques. Here are essential tips and a roadmap for banks to manage and recover NPAs successfully:

1. Early Identification and Classification:

Implement robust credit risk assessment to identify potential NPAs at an early stage.

Classify loans based on their repayment status and severity of default as per regulatory guidelines.

Regularly monitor loan accounts for signs of stress or default.

2. Asset Quality Review (AQR):

Conduct periodic asset quality reviews to identify stressed assets and NPAs accurately.

Classify NPAs into sub-categories (Substandard, Doubtful, Loss) based on the extent of impairment.

3. Loan Restructuring and Rescheduling:

Offer loan restructuring options to borrowers facing financial difficulties.

Modify repayment terms, extend tenure, or lower interest rates to improve borrower repayment capacity.

Ensure that restructuring agreements are based on realistic borrower assessments and viability.

4. Negotiated Settlements:

Engage in negotiations with borrowers for one-time settlements or compromise agreements.

Evaluate the borrower's financial position and propose reasonable settlement amounts.

Ensure that settlement agreements are legally binding and provide sufficient recovery to minimize losses.

5. Legal Remedies and Recovery Proceedings:

Initiate legal actions promptly against defaulting borrowers.

Utilize legal remedies such as filing recovery suits, obtaining judgments, or issuing recovery notices.

Implement asset attachment, garnishment, or foreclosure based on legal provisions.

6. Asset Reconstruction Companies (ARCs):

Transfer NPAs to Asset Reconstruction Companies (ARCs) for resolution and recovery.

Collaborate with ARCs to manage and resolve distressed assets through asset sale or restructuring.

7. Collateral Management and Realization:

Efficiently manage collateral held against defaulted loans.

Conduct proper valuation of collateral assets and realize them effectively to recover outstanding dues.

8. Customer Engagement and Rehabilitation:

Adopt a customer-centric approach to engage with defaulting borrowers.

Provide financial counselling, debt management advice, or rehabilitation programs to support borrowers in resolving NPAs.

9. Continuous Monitoring and Follow-Up:

Establish dedicated recovery teams to monitor and follow up on overdue accounts.

Maintain regular communication with borrowers to understand their financial status and recovery prospects.

10. Regulatory Compliance and Reporting:

Adhere to regulatory guidelines and reporting requirements for NPA management and recovery.

Ensure transparency and accuracy in NPA classification, provisioning, and reporting to regulatory authorities.

11. Data Analytics and Technology Adoption:

Leverage data analytics and technology for predictive modelling and risk assessment.

Implement advanced tools for portfolio analysis, borrower profiling, and recovery strategy optimization.

12. Risk Mitigation and Prevention:

Enhance risk management practices to prevent future NPAs.

Strengthen underwriting standards, credit monitoring, and portfolio diversification to mitigate credit risks.

Conclusion: Implementing these strategies and following a structured roadmap can improve the efficiency and effectiveness of NPA recovery efforts for banks. It's essential to tailor recovery approaches based on the unique characteristics of each NPA case and borrower profile. Regular reviews and refinements of recovery strategies are crucial to adapting to evolving market conditions and regulatory changes.

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In 2016, I met several Lumad leaders from the Philippines at the United Methodist General Conference in Portland, Oregon. The leaders were participating in Lakbay Lumad USA, a tour hosted by the International Coalition for Human Rights in the Philippines and co-sponsored by the United Methodist Women and the Board of Church & Society.

During the speaking tour, the Lumad speakers shared their struggle against foreign mining companies and the militarization that came with the mining companies. Just a few months prior to their visit, 5,000 farmers in Southern Mindanao, home to the lumad, protested lack of government support and distribution of aid amid a drought. When the farmers peacefully protested, the police spared water cannons on them, and eventually fired bullets, killing one farmer and injuring others. The cry of the people become “Bigas Hindi Bala” or “Rice Not Bullets!” This was but one example of many instances of harassment and violence the Lumad people faced at the time. This video from the United Methodist Church gives an overview of the struggle of the Lumad.

The General Conference responded to the situation in the Philippines, amending and re-adopting Resolution #6118, which called for US restriction on military aid to the Philippines, the termination of US military agreements with the Philippines, and the resumption of peace talks in the country amid the ongoing civil war between the Community Party of the Philippines -NPA-National Democratic Front (CPP-NPA-NDF) and the government of the Philippines.

Since General Conference, however, the human rights situation in the Philippines has largely worsened. After his election in 2016, President Rodrigo Duterte ran one of the most brutal and militarist regimes in Philippine history, shutting down progressive schools for Lumad children, opening up the country for more foreign mining, and waging an intense killing spree against activists via a counterinsurgency campaign and a so called “war on drugs.” To make things worse, Ferdinand Marcos Jr, son of one of the most brutal dictators in history, became President in May 2022. Intense repression, killings, and disappearances of activists have continued under Marcos Jr. with no sign of let up.

This September, news came that one of the Lumad leaders who visited the General Conference in 2016, Kerlan “Lala” Fanagal, was killed. Katribu, an indigenous organization in the Philippines, confirmed that Kerlan had joined the NPA in resistance to the government programs targeting the Lumad. Kerlan is one of many who have decided to join the NPA as a response to severe oppression in the country.

Snap Mabanta, staff member of the National Council of Churches in the Philippines, who recently toured the United States as part of the Just and Lasting Peace Speaking Tour, explained the basis of the civil war in the country in an interview: “Why is there a civil war in the Philippines? We think it is the poverty, the historical neglect and the lack of basic social services. These are the reasons people wage war in the country.”

Kerlan’s choice to fight for land and rights in the NPA was his solely, and not ours to judge – especially as people based in the United States, a country that has long held a necolonial relationship with the Philippines. Our role is to decide how we will respond to the social and economic crisis that Kerlan and the Lumad have helped expose, and to oppose the role the United States has played in worsening the crisis. While the United States continues to maintain the Philippines as a military outpost with nine bases, and as long as the U.S. continues to fund the Philippine military and police responsible for human right atrocities, it is our duty to organize in support of Philippine sovereignty and against US interference. If we want to contribute to peace in the Philippines, we must hold the US accountable for it’s perpetuation of war in the country. We can begin to do this through fulfilling resolution 6118 and push for the Philippine Human Rights Act, HR 1433, a bill that calls for the suspension of US military aid to the Philippines.

Isaiah 59 reads, “The Lord looked and is upset at the absence of justice”; let us also be upset, let us be in solidarity with people in the Philippines, let us be God’s image bearers, and devote ourselves to push for the Philippine Human Rights Act and for peace in the Philippines.

Drew Miller, Western Methodist Justice Movement, October 9, 2023

[shrutim12]

Poonawalla Fincorp Achieves New Heights in Asset Quality: A Landmark Achievement

Poonawalla Fincorp Limited, a key player in the non-banking financial company (NBFC) sector, focusing on consumer and MSME finance, has reached a remarkable milestone by May 31, 2024. The company has reported a Gross NPA (GNPA) below 1 percent and a Net NPA (NNPA) below 0.5 percent, highlighting its exceptional asset quality and financial health. This success showcases Poonawalla Fincorp’s solid growth in Assets Under Management (AUM) and profitability.

Leadership and Vision

Under the adept leadership of Abhay Bhutada, Poonawalla Fincorp has risen as a leader in the lending space, spearheading transformative changes in the NBFC sector over the past three years. With AUM exceeding Rs. 25,000 crore and a Profit After Tax (PAT) surpassing Rs. 1,000 crore in FY2024, the company has made substantial advancements.

Bhutada stated, “When we acquired the company in 2021, our Vision 2025 aimed to bring NNPA below 1 percent by 2025. Achieving GNPA below 1 percent and NNPA below 0.5 percent ahead of schedule by May 31, 2024, reflects our strategic business model, robust risk management practices, and enhanced collection efficiency.”

Strategic Initiatives and Financial Performance

The impressive reduction in GNPA and NNPA is attributed to a combination of business growth, prudent credit policies, and enhanced collection efficiency. Poonawalla Fincorp’s strategic focus on a balanced portfolio, strong risk management frameworks, and leveraging technology for efficient collection processes has yielded significant results.

Maintaining strong asset quality while scaling operations is challenging, yet Poonawalla Fincorp’s substantial growth in AUM and profitability highlights the effectiveness of its strategic initiatives and commitment to financial discipline.

Also Read: Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Growth

Superior Asset Quality

Achieving GNPA below 1 percent and NNPA below 0.5 percent marks a significant milestone. GNPA measures the total non-performing assets in the company’s portfolio, while NNPA accounts for these assets after deducting provisions for bad loans. These metrics are critical indicators of an NBFC’s loan portfolio health.

Lower GNPA and NNPA percentages indicate superior asset quality and effective credit risk management. This achievement is particularly noteworthy in the NBFC sector, which often deals with higher-risk customer segments compared to traditional banks. Poonawalla Fincorp’s success underscores its strong risk management practices and operational excellence.

Strategic Business Model

The company’s business model has been crucial in achieving and maintaining superior asset quality. Poonawalla Fincorp has focused on a diversified portfolio that serves both consumer and MSME segments, mitigating risks associated with any single customer segment. The company’s emphasis on digital lending and advanced analytics has enhanced credit assessment and monitoring processes.

By leveraging technology, Poonawalla Fincorp has streamlined operations, improved customer experience, and increased collection efficiency. Digital platforms have enabled the company to reach a broader customer base and offer seamless services, contributing to its growth and profitability.

Robust Risk Management and Governance Practices

Effective risk management and governance practices are central to Poonawalla Fincorp’s strategy for achieving low NPAs. The company has implemented stringent credit policies and procedures to ensure prudent lending. Regular monitoring and assessment of the loan portfolio facilitate early identification and resolution of potential issues, minimizing their impact on asset quality.

Poonawalla Fincorp’s governance practices ensure compliance with regulatory requirements and industry best practices. The company’s commitment to transparency and accountability has fostered trust among stakeholders, including investors, customers, and regulators.

Also Read: Poonawalla Fincorp's Strategic Entry Into The Credit Card Market: What Investors Should Know

Improved Collection Efficiency

Improved collection efficiency has been a critical factor in reducing NPAs. Poonawalla Fincorp has invested in advanced collection systems and processes to ensure timely recovery of dues. The company’s collection teams are equipped with the necessary tools and training to handle collections effectively, even in challenging circumstances.

A proactive approach to collections has enabled Poonawalla Fincorp to maintain high recovery rates and reduce delinquent accounts. This focus on efficient collections has been instrumental in achieving and maintaining low levels of GNPA and NNPA.

Market Reaction and Financial Performance

The market has responded positively to Poonawalla Fincorp’s achievement in reducing GNPA and NNPA to such low levels. The company’s stock has seen favorable responses, reflecting investor confidence in its financial health and growth prospects. This milestone has further solidified Poonawalla Fincorp’s position in the NBFC sector, enhancing its reputation as a reliable and well-managed financial institution.

In recent quarters, the company’s financial performance has been robust, with significant growth in AUM and profitability. In FY2024, Poonawalla Fincorp’s AUM crossed Rs. 25,000 crore, and PAT exceeded Rs. 1,000 crore. These figures underscore the company’s ability to scale its operations while maintaining strong financial discipline.

Future Outlook

Looking ahead, Poonawalla Fincorp aims to continue its growth trajectory by focusing on consumer and MSME finance, further strengthening its risk management practices, and leveraging technology to drive efficiency. The company’s proactive approach and commitment to excellence position it well to achieve its long-term goals and maintain its leadership position in the NBFC sector.

The NBFC sector in India is poised for growth, driven by increasing demand for credit from various customer segments. Poonawalla Fincorp’s strong foundation, strategic vision, and operational excellence make it well-equipped to capitalize on these opportunities. The company plans to expand its product offerings and geographical reach, further enhancing its market presence.

Also Read: Re-imagining The Finance Business In The Digital Era

Industry Implications

Poonawalla Fincorp’s achievement sets a benchmark in the NBFC sector, demonstrating how strategic vision and robust operational execution can lead to significant improvements in asset quality. This milestone not only enhances the company’s reputation but also boosts investor confidence. Other NBFCs can learn valuable lessons from Poonawalla Fincorp’s approach to risk management, governance, and operational efficiency.

The reduction in NPAs also has positive implications for the broader financial ecosystem. By maintaining low levels of delinquent accounts, Poonawalla Fincorp contributes to the stability and resilience of the financial sector. This, in turn, supports economic growth by ensuring the availability of credit to productive sectors.

Comparison with Peers

Comparing Poonawalla Fincorp’s performance with other NBFCs highlights its achievements. While many NBFCs struggle to manage asset quality, Poonawalla Fincorp has set a new standard with its low GNPA and NNPA levels. This comparison underscores the effectiveness of the company’s strategies and its commitment to excellence.

Poonawalla Fincorp’s focus on technology, strong governance, and efficient collections sets it apart from its peers. The company’s ability to achieve and maintain low NPAs while scaling its operations is a testament to its strategic vision and operational capabilities. Other NBFCs can benefit from adopting similar approaches to enhance their asset quality and financial performance.

Conclusion

Poonawalla Fincorp’s achievement of GNPA below 1 percent and NNPA below 0.5 percent is a testament to its strong governance, strategic foresight, and operational excellence. This milestone underscores the company’s ability to deliver superior financial performance while maintaining high standards of asset quality, setting a new benchmark in the NBFC industry.

By focusing on a diversified portfolio, leveraging technology, implementing robust risk management practices, and enhancing collection efficiency, Poonawalla Fincorp has successfully reduced its NPAs to industry-leading levels. The company’s strong financial performance and market reception further highlight the effectiveness of its strategies.

Looking ahead, Poonawalla Fincorp, under the leadership of Abhay Bhutada, is well-positioned to continue its growth trajectory and maintain its leadership position in the NBFC sector. The company’s commitment to excellence and proactive approach to managing risks and opportunities will drive its future success, benefiting stakeholders and contributing to the stability and growth of the financial ecosystem.

In conclusion, Poonawalla Fincorp’s remarkable milestone in asset quality is a significant achievement that sets a new benchmark in the NBFC sector. The company’s strategic initiatives, robust risk management, and operational excellence have paved the way for sustained growth and financial success. As Poonawalla Fincorp continues to build on this foundation, it is poised to achieve even greater heights in the years to come.

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Ministry of Power

REC Limited declares financial results, records highest ever annual net profit

Posted On: 30 APR 2024 2:56PM by PIB Delhi

The Board of Directors of REC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, today approved the audited standalone and consolidated financial results for the quarter and year ended 31st March, 2024.

Operational and Financial Highlights: Q4 FY24 vs Q4 FY23 (Standalone)

Revenue from operations: ₹ 12,613 crores vs. ₹ 10,113 crores, up 25%

Total income: ₹ 12,643 crores vs. ₹ 10,124 crores, up 25%

Net interest income: ₹ 4,407 crores vs. ₹ 3,409 crore, up 29%

Net Profit: ₹ 4,016 crores vs. ₹ 3,001 crore, up 34%

Total Comprehensive Income: ₹ 5,183 crores vs. ₹ 3,645 crores, up 42%

Yield: 10.03% vs. 9.65%, up 38 basis points

Average cost of funds: 7.14% vs. 7.17%, reduction by 3 basis points

Spread: 2.89% vs. 2.48%, up 41 basis points

Net interest margin: 3.60% vs. 3.29%, up 31 basis points

Return on net worth: 24.06% vs. 21.34%, up 13%

Operational and Financial Highlights: 12M FY24 vs 12M FY23 (Standalone)

Total sanctions: ₹ 3,58,816 crores vs. ₹ 2,68,461 crores, up 34%, of which sanctions to renewable sector: ₹ 1,36,516 crores vs. ₹ 21,554 crores, up 533%

Renewable sanctions comprise:

Solar: ₹ 20,956 crores vs. ₹ 9,301 crores

Module manufacturing: ₹ 21,565 crores vs. ₹ Nil crores

Large Hydro: ₹ 32,450 crores vs. ₹ 682 crores

Pumped Storage: ₹ 28,304 crores vs. ₹ 6,075 crores

Green Hydrogen: ₹ 7,997 crores vs. Nil

E-Mobility: ₹ 7,214 crores vs. ₹ 2,429 crores

Wind turbine manufacturing: ₹ 3,195 crores vs. Nil

Wind: ₹ 3,453 crores vs. ₹ 2,436 crores

Hybrid: ₹ 10,098 crores vs. ₹ 220 crores

Others: ₹ 1,284 crores vs. ₹ 411 crores

Disbursements: ₹ 1,61,462 crores vs. ₹ 96,846 crores, up 67%

Revenue from operations: ₹ 47,146 crores vs. ₹ 39,208 crores, up 20%

Total income: ₹ 47,214 crores vs. ₹ 39,253 crores, up 20%

Net interest income: ₹ 16,167 crores vs. ₹ 13,714 crores, up 18%

Net Profit: ₹ 14,019 crores vs. ₹ 11,055 crores, up 27%

Total Comprehensive Income: ₹ 15,063 crores vs. ₹ 10,084 crores, up 49%

Yield: 9.99% vs. 9.73%, up 26 basis points

Average cost of funds: 7.13% vs. 7.28%, reduction by 15 basis points

Spread: 2.86% vs. 2.45%, up 41 basis points

Net interest margin: 3.57% vs. 3.38%, up 19 basis points

Return on net worth: 22.17% vs. 20.35%, up 9%

Market capitalization: ₹ 1,18,757 crore vs. ₹ 30,400, up 290%

Owing to the improving asset quality and effective resolution of stressed assets, and resetting of the lending rates and effective management of finance cost, REC has been able to record its highest ever annual profit after tax of ₹ 14,019 crores. As a result, the Earnings Per Share (EPS) for the year ended 31st March 2024 accelerated by 27% to ₹ 53.11 per share as against ₹ 41.85 per share as at 31st March 2023.

Aided by growth in profits, the Net Worth has grown to ₹ 68,783 crores as on 31st March 2024, registering an increase of 19% YoY.

The loan book has maintained its growth trajectory and has increased by 17% to ₹ 5.09 lakh crores as against ₹ 4.35 lakh crores as at 31st March, 2023. Signifying improving asset quality, the net credit-impaired assets as at 31st March, 2024 have reduced to 0.86% from 1.01% as at 31st March 2023 with Provision Coverage Ratio of 68.45% on NPA assets, as at 31st March, 2024.

Indicating the ample opportunity to support the future growth, Capital Adequacy Ratio (CRAR) of the company stands at a comfortable 25.82% as at 31st March, 2024.

Continuing with the tradition to reward its shareholders, the Board of Directors of the Company has declared the final dividend of ₹ 5 per equity share (on face value of ₹ 10/- each) and the total dividend for FY 2023-24 is ₹ 16 per equity share.