"A fraud of Rs. 1203.26 crore is being reported by bank to RBI in the accounts of the Company (SIL)", the bank confirmed the statement.
In this secondary round, existing investors True North Capital, and Bessemer Ventures will sell part of their stake to Warburg. Home-grown private equity firm True North Capital, along with co-investor GIC owns about 74% of HFFC. Another 16% stake is held by VC fund Bessemer Ventures, and the rest is with the management.
Within industry, credit to 'food processing', 'petroleum, coal products and nuclear fuels', 'leather and leather products', 'wood and wood products' and 'paper and paper products' segments registered accelerated growth in August 2020 as compared to the growth in the corresponding month of the previous year.In this secondary round, existing investors True North Capital, and Bessemer Ventures will sell part of their stake to Warburg. Home-grown private equity firm True North Capital, along with co-investor GIC owns about 74% of HFFC. Another 16% stake is held by VC fund Bessemer Ventures, and the rest is with the management.
The six banks are Syndicate Bank, Oriental Bank of Commerce (OBC), United Bank of India, Andhra Bank, Corporation Bank, and Allahabad Bank.
“Very important to change sentiment right now, we have to move on in life with the requisite social distancing norms, we are optimistic about the future, HDFC Bank is back to pre-Covid levels there is no strain on our balance sheet,” said Aditya Puri.“Very important to change sentiment right now, we have to move on in life with the requisite social distancing norms, we are optimistic about the future, HDFC Bank is back to pre-Covid levels there is no strain on our balance sheet,” said Aditya Puri.
The Reserve Bank of India’s decision to reschedule this week’s interest-rate meeting makes it difficult for lenders to price loans and deposits because they usually track the monetary policy’s outlook for liquidity and interest rates.The Reserve Bank of India’s decision to reschedule this week’s interest-rate meeting makes it difficult for lenders to price loans and deposits because they usually track the monetary policy’s outlook for liquidity and interest rates.
In a regulatory filing, Dhanlaxmi Bank said the banking sector regulator through a letter dated September 28, 2020, has appointed D K Kashyap, General Manager, Reserve Bank of India, Bengaluru Regional Office as Additional Director on the board of the bank.In a regulatory filing, Dhanlaxmi Bank said the banking sector regulator through a letter dated September 28, 2020, has appointed D K Kashyap, General Manager, Reserve Bank of India, Bengaluru Regional Office as Additional Director on the board of the bank.In a regulatory filing, Dhanlaxmi Bank said the banking sector regulator through a letter dated September 28, 2020, has appointed D K Kashyap, General Manager, Reserve Bank of India, Bengaluru Regional Office as Additional Director on the board of the bank.
"The 9.7 (per cent) was the number as of June 30. Obviously over a period of time some more customers do ask for moratorium, so I can definitely say that the number has gone up a little bit rather than coming down, which has happened for everyone," Chaudhry told in an interview
In a letter written to RBI Governor Shaktikanta Das, All India Bank Officers' Confederation (AIBOC) said it is a well-known fact in the banking industry that misplaced priorities and supervisory laxities had wreaked havoc on Dhanlaxmi Bank a decade ago."The 9.7 (per cent) was the number as of June 30. Obviously over a period of time some more customers do ask for moratorium, so I can definitely say that the number has gone up a little bit rather than coming down, which has happened for everyone," Chaudhry told in an interviewIn a letter written to RBI Governor Shaktikanta Das, All India Bank Officers' Confederation (AIBOC) said it is a well-known fact in the banking industry that misplaced priorities and supervisory laxities had wreaked havoc on Dhanlaxmi Bank a decade ago.
It has appointed former Bajaj Capital chief executive Rahul Parikh as the bank's digital head as the bank broadens its digital presence to improve customer services. Earlier in the month, the bank hired ICICI Bank veteran Kumar Ashish as head for “emerging entrepreneurs business" vertical.It has appointed former Bajaj Capital chief executive Rahul Parikh as the bank's digital head as the bank broadens its digital presence to improve customer services. Earlier in the month, the bank hired ICICI Bank veteran Kumar Ashish as head for “emerging entrepreneurs business" vertical.
This insurance compensates for direct financial loss (up to the sum insured) due to unauthorised digital financial transactions as a result of identity theft arising out of cyber-attacks, phishing/spoofing and SIM-jacking, a joint statement said.This insurance compensates for direct financial loss (up to the sum insured) due to unauthorised digital financial transactions as a result of identity theft arising out of cyber-attacks, phishing/spoofing and SIM-jacking, a joint statement said.
As the chief marketing & digital officer, Parikh will be responsible for the digital banking business and for building a strong digital backbone to support the bank's growth.
Shareholders of Lakshmi Vilas Bank, led by institutions, unexpectedly voted against the appointment of Sundar as chief executive as well as the reappointment of six other directors on Friday. Shareholders alleged that part of the accountability for the bank’s deteriorating performance over the past few years rested with them.Shareholders of Lakshmi Vilas Bank, led by institutions, unexpectedly voted against the appointment of Sundar as chief executive as well as the reappointment of six other directors on Friday. Shareholders alleged that part of the accountability for the bank’s deteriorating performance over the past few years rested with them.
As per the report, of the total consolidated debt owed to banks, RCFL accounted for Rs 11,620 crore, Reliance Home Finance Ltd (RHFL) Rs 7,430 crore and Reliance Capital (standalone) Rs 6,750 crore of debt. The consolidated debt includes term loans, cash credit and non-convertible debentures.As per the report, of the total consolidated debt owed to banks, RCFL accounted for Rs 11,620 crore, Reliance Home Finance Ltd (RHFL) Rs 7,430 crore and Reliance Capital (standalone) Rs 6,750 crore of debt. The consolidated debt includes term loans, cash credit and non-convertible debentures.
"With a view to providing comfort to banks on their liquidity requirements as also to enable to continue to meet LCR requirements, it has been decided to continue with the MSF relaxation for a further period of six months, i.e., up to March 31, 2021," RBI said in a statement."With a view to providing comfort to banks on their liquidity requirements as also to enable to continue to meet LCR requirements, it has been decided to continue with the MSF relaxation for a further period of six months, i.e., up to March 31, 2021," RBI said in a statement.
"As per the Transaction Auditor's report shared with the Administrator, the monetary impact of the above transactions covered under the Application amount to Rs 12,705.53 cr (which includes principal of Rs 10,979.50 cr and accrued interest of Rs 1,726.03 cr), being the amount outstanding in the books of the company as on November 30, 2019," DHFL said."As per the Transaction Auditor's report shared with the Administrator, the monetary impact of the above transactions covered under the Application amount to Rs 12,705.53 cr (which includes principal of Rs 10,979.50 cr and accrued interest of Rs 1,726.03 cr), being the amount outstanding in the books of the company as on November 30, 2019," DHFL said.
The development comes a few days after its shareholders rejected the appointment of seven directors, including the Managing Director, Chief Executive Officer and auditors at the annual general meeting.
The three Chinese banks to whom Anil Ambani owes more than $716 million (Rs 5,276 crore), as well as significant legal costs, have decided to pursue their rights against him on his worldwide assets, following the beleaguered Reliance Group chairman’s English high court cross-examination on Friday.The three Chinese banks to whom Anil Ambani owes more than $716 million (Rs 5,276 crore), as well as significant legal costs, have decided to pursue their rights against him on his worldwide assets, following the beleaguered Reliance Group chairman’s English high court cross-examination on Friday.
The regulator has been running the campaign for more than a year not only in English and Hindi but in various regional languages for maximum reach. It keeps on repeating the message so that people don't forget their rights and responsibilities.The regulator has been running the campaign for more than a year not only in English and Hindi but in various regional languages for maximum reach. It keeps on repeating the message so that people don't forget their rights and responsibilities.
The merchant relationships accrue in fees as the services are charged, in interest income for the lending and also in low-cost current and saving account (Casa) deposits. Having a bigger number of merchants will help the bank's analytics engines gather more intelligence and deploy suitable solutions, the source said.The merchant relationships accrue in fees as the services are charged, in interest income for the lending and also in low-cost current and saving account (Casa) deposits. Having a bigger number of merchants will help the bank's analytics engines gather more intelligence and deploy suitable solutions, the source said.
At present, only derivative products are available for trading and retail investors are not allowed to participate. Recently, Sebi allowed investment advisory services in IFSC and permitted emerging investment vehicles REITs (real estate investment trusts) and InvITs (infrastructure investment trusts) to list on stock exchanges operating in IFSC.
Anush Raghavan, Senior Vice-President and Head – Cash Business Unit of the CMS said that with a network spanning over 115,000 ATMs and retail outlets that spread across 98.3 per cent of districts in India, the company is uniquely positioned as the "backbone of the circulation cycle" of the economy.At present, only derivative products are available for trading and retail investors are not allowed to participate. Recently, Sebi allowed investment advisory services in IFSC and permitted emerging investment vehicles REITs (real estate investment trusts) and InvITs (infrastructure investment trusts) to list on stock exchanges operating in IFSC.Anush Raghavan, Senior Vice-President and Head – Cash Business Unit of the CMS said that with a network spanning over 115,000 ATMs and retail outlets that spread across 98.3 per cent of districts in India, the company is uniquely positioned as the "backbone of the circulation cycle" of the economy.
Among other things, the CII has suggested exclusion of certain categories of borrowers (other regulated entities like Mutual Funds/ PMS/ Insurance/ Exchange Brokers/ NBFCs HFCs etc) from the scope of the circular.
The fund infusion would be for meeting regulatory capital requirements if the need arises in October-December quarter. In 2019-20, the government infused Rs 70,000 crore into PSBs to boost credit for a strong impetus to the economy.
Voting results released late on Saturday night showed that seven of the ten directors proposed to be reappointed by the bank in its 93rd annual general meeting (AGM) held on Friday were rejected by the shareholders by a comfortable majority of more than 60% of votes polled.The fund infusion would be for meeting regulatory capital requirements if the need arises in October-December quarter. In 2019-20, the government infused Rs 70,000 crore into PSBs to boost credit for a strong impetus to the economy.Voting results released late on Saturday night showed that seven of the ten directors proposed to be reappointed by the bank in its 93rd annual general meeting (AGM) held on Friday were rejected by the shareholders by a comfortable majority of more than 60% of votes polled.