Banks in India will not provide a personal hearing to companies before classifying them as ‘fraud’ accounts, but will re-evaluate the decision if legally challenged. The procedure, which aims to codify the steps to classify companies with outstanding loans of ₹50 crore or more as fraud accounts, follows a Supreme Court direction in March 2023 to provide a hearing to borrowers before such a step is taken. Some bankers and legal experts believe the procedure may lead to court disputes.
Parag Parikh Flexi Cap Fund, Quant Small Cap Fund among 17 mutual funds which deliver over 20% XIRR on SIP investments in 10 years
Seventeen equity mutual funds delivered over 20% XIRR on SIPs over the past 10 years, led by Quant and Nippon India Small Cap Funds. Among