IDFC FIRST Bank, is set to be a part of RBI’s pilot project to enable offline payments. This project will give access to digital payments […]
Category: BFSI
Borrowers must be accorded hearing before declaration of bank account as fraud: SC
A borrower must be accorded a hearing before an account is classified as “fraud” and a reasoned order must follow if such an action is […]
Medi Assist to acquire Raksha Insurance TPA in expansion push
Health insurance third-party administrator Medi Assist is set to acquire 100% stake in Raksha Insurance TPA in what could be the largest deal in third-party […]
Reliance Capital lenders fear recovery below liquidation value
Lenders of bankrupt Reliance Capital fear their loan recovery could fall below the liquidation value of `12,500-13,000 crore for the financial services company since both […]
SBI sells loan of Atibir Industries to CFM Asset Reconstruction Company
State Bank of India has sold ₹341 crore of principal loan outstanding from bankrupt Atibir Industries to CFM Asset Reconstruction Company for ₹250 crore through […]
Public sector banks to submit plan to deal with key business risks
State-run banks will within two weeks submit to the government a detailed scenario-mapped plan of various business risks, people familiar with the development. They will […]
FSIB recommends Siddhartha Mohanty as LIC chairman
An autonomous body tasked with selecting top managers of state-run financial institutions and lenders has recommended the candidature of Siddhartha Mohanty, one of the four […]
CCI clears proposed investment by Qatar Investment Authority in BTS Investment 1 Pte
The Competition Commission of India (CCI) on Thursday said it has approved the proposed investment by Qatar Investment Authority in BTS Investment 1 Pte (BTS1), […]
Finance Ministry seeks data on state-bank bond portfolios amid global banking turmoil
India has asked state-owned lenders to submit details of their bond portfolios ahead of a quarterly meeting between the government and banks this Saturday, amid […]
Canara Bank sells stake in Russian joint venture to SBI for Rs 121 crore
Canara Bank on Thursday said it has sold its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State […]