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It can be tough to find a path out of debt in any economic climate, but for many borrowers, things are especially difficult right now. Part of the issue is that credit card balances are currently hitting record highs, with the average American household carrying nearly $8,000 in high-rate credit card debt. Meanwhile, inflation has made it harder than ever to find room in the budget for monthly payments, leaving millions…
NEW DELHI: In a dramatic yet decisive reversal, Supreme Court Thursday annulled its May 2 judgment ordering liquidation of Bhushan Power and Steel Ltd, which had been revived in 2021 by the Sajjan Jindal-led JSW through a Rs 20,000 crore plan concurrently upheld by NCLT and NCLAT under Insolvency and Bankruptcy Code process.Unabashedly admitting that its earlier decision militated against the settled law on inviolability of the decision of Committee of Creditors, a bench of CJI B R Gavai and Justice Satish Chandra Sharma recalled the verdict and posted the matter for fresh hearing next Thursday.The bench also frowned upon the use of Article 142 by the earlier bench led by Justice Bela M Trivedi, who has since retired, to order…
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Indian economy | Snapshot of key indicators
HIGHLIGHTS
In June 2025, retail inflation (CPI) dropped to 2.1%, while WPI
inflation (–0.13%) and food inflation (CFPI) (–1.06%)
turned negative – all marking a 6-year low since January
2019. Highest inflation was recorded in oil and fats (17.75%);
personal care and effects (14.76%); fruits (12.61%); health
(4.43%); and education (4.37%). Conversely, lowest inflation was
observed in vegetables (–19.01%); pulses and products
(–11.76%); spices (–3.03%); meat and fish
(–1.62%); and footwear (2.23%).
India’s overall trade deficit narrowed to USD 3.51 billion
in June…
The Supreme Court on Thursday recalled it’s May 2 order, which rejected JSW Steel’s Rs 19,700 crore resolution plan for Bhushan Power and Steel Limited on grounds of violation of Sections 30(2) and 31(2) of the Insolvency and Bankruptcy Code (IBC).
The Bench of Chief Justice BR Gavai and Justice Satish Chandra Sharma prima facie observed that the May 2 judgment did not appear to be in consonance with the settled precedents, as well as the legal position laid down in previous verdicts.
Besides, various incorrect factual aspects were also taken into consideration, as also the arguments which were not advanced, it noted.
The Apex Court decided to take up the matter again,…
Faith-based organizations are commending a new pastoral letter from the Canadian Conference of Catholic Bishops (CCCB) pressing the Global North to wipe out low-income countries’ crippling debt and consider the ecological burden it has placed on the Global South.
Forgive us our Debts: Pastoral Letter on Debt Forgiveness in the Jubilee Year, authored by the Episcopal Commission for Justice and Peace and released on July 28, continues the CCCB’s tradition of urging the relaxing of crippling monetary obligations during a year of special grace in the universal Catholic Church.
Dean Dettloff, the research and advocacy officer for Development and Peace – Caritas Canada, in an email said the bishops’ missive meets the moment.
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A new report by FinCap says the ongoing cost-of-living crisis has led to an increased debt burden for many people. Photo: RNZ
FinCap, which represents the country’s financial mentors, has released its latest Voices report, outlining data for 2024.
It was to be presented at Parliament on Thursday morning.
The report shows mentors are dealing with a growing number of clients, despite the number of people working in the field dropping. From 19,543 closed cases in 2021, there were 25,140 dealt with last year.
The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.
According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.
Education Minister Jason Clare is delighted his student debt relief bill has passed both houses of parliament. Photo: Facebook.
Labor’s student debt relief legislation has passed the Senate, guaranteeing a 20 per cent cut for higher education students currently owing the government money for their studies.
The HECS Bill, the first piece of legislation the Federal Government introduced to the new parliament, has enjoyed smooth sailing through both houses.
The House of Representatives was never going to be an issue with the government having more than enough numbers to pass its bill. The Senate didn’t raise any significant worries for Labor either.
The bill passed 36 votes to 3 in the Upper House on Thursday morning (31 July) with the…
The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.
According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.
The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.
According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.
LOGAN, Utah — This week, 21 human service professionals across Utah completed a 10-week training program and are now provisionally certified as Community Justice Advocates.
These advocates will begin a 10-week intensive supervision period under the direction of licensed attorneys, during which they will support people navigating legal challenges related to debt collection that often leave individuals without assistance and a clear path forward.
The development of this initiative was spearheaded by Utah State University’s Transforming Communities Institute in partnership with Nonprofit Legal Services of Utah, Chair of the Utah Courts’ Committee on Resources for Self-Represented Parties Judge Richard Mrazik, Utah Bar Foundation, and…
The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.
According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.
