BANKING

Religare alleged that InGovern, founded by Shriram Subramanian, had published a defamatory report on its website without any verification and without studying information available in the public domain.

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BANKING

Turkish inflation jumped above 75 percent in May, official data showed Monday, but officials expect consumer prices to have finally peaked in a cost-of-living crisis that has dogged President Recep Tayyip Erdogan. Turkey has been battling soaring consumer prices that prompted Erdogan to drop his opposition to interest-rate hikes to combat inflation.

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As per the RBI's recent annual report, fraud cases surged to 36,075 in FY24, marking a significant rise from 13,564 reported in the previous fiscal year. The report highlighted that a majority of these frauds, in terms of volume, were related to digital payments, including card and internet transactions.

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BANKING

The Bank Clinic is an initiative by the All India Bank Employees' Association (AIBEA) to help customers address their grievances amid rapid expansion in technology and a series of Reserve Bank of India (RBI) guidelines on retail banking. A customer can fill out the details of her/his complaint, create a ticket, and receive a reply in five working days on the remedies available and information on what the RBI guidelines prescribe on that matter.

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BANKING

RBI approves Committee of Executives in Tamilnad Mercantile Bank as an interim arrangement. CoE comprises S Narayanan, D Ramesh, PR Ashok Kumar. Bank selecting suitable candidates for top post, unclear why Krishnan's successor not selected after 8 months. TMB had only one whole time director.

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BANKING

PNB, led by Atul Kumar Goel, achieved a 229% profit growth to Rs 8,245 crore in FY24. Initiatives like reducing NPAs, improving ROA, and expanding branches contribute to the bank's success.

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BANKING

Religare alleged that InGovern, founded by Shriram Subramanian, had published a defamatory report on its website without any verification and without studying information available in the public domain. "What is even more astonishing is that InGovern did not even bother to reach out to Religare for feedback or to have an understanding of the correct facts, which would have ensured that the report projected a true and balanced picture," said Religare Enterprises chairperson Rashmi Saluja.

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