The CBI has booked Kanpur-based Rotomac Global and its directors for Rs 750.54 crore for alleged fraud in Indian Overseas Bank, officials said. The company, […]
Category: BFSI
Nine Russian banks open special vostro accounts for trade in rupee
As many as nine special vostro accounts have been opened with two Indian banks after permission from the Reserve Bank of India to facilitate overseas […]
TTBS cloud-telephony Smartflo boosting BFSI operations across the country to accomplish financial inclusion goals
India’s commitment to bringing every person living within the boundary under the cover of banking and financial services benefitted greatly from global technological advancements. To […]
IRDA directive to shun brokers for gilt trades baffles insurers
Insurance companies, a significant investor group in the financial markets, have been told by the regulator that they can no longer cut deals with brokers […]
RBI imposes penalties on nine cooperative banks for violating compliances
The Reserve Bank of India has imposed monetary penalties on nine cooperative banks on account of various contraventions or non compliances of laid down guidelines. […]
RBI Governor Shaktikant Das to meet bankers, review credit growth sustainability
RBI Governor Shaktikant Das will meet the heads of public sector banks on November 16 to discuss the issue of sustainability of credit growth in […]
ACRE offers to buy LIC’s Rs 3,400 crore Reliance Capital bonds
An Ares SSG Capital-backed asset reconstruction company (ARC) has given a binding offer to Life Insurance Corporation (LIC) to acquire its ₹3,400-crore Reliance Capital bonds, […]
Gujarat-based NBFC tops NARCL bid for consolidated construction
ujarat-based NBFC Raj Radhe Finance has offered Rs 130 crore to take over the debt of EPC company Consolidated Construction Consortium (CCC) topping National Asset […]
Punjab & Sind Bank to take call on Rs 300 crore QIP in fourth quarter: MD Saha
State-owned Punjab & Sind Bank would take a call on raising equity capital through qualified institutional placement (QIP) after taking into account third quarter numbers and pace of loan […]
Prima facie termination of Kochhar as ICICI CEO valid, says HC; won’t get post retirement benefits
The Bombay High Court on Thursday said the termination of Chanda Kochhar from the post of CEO of ICICI Bank was prima facie “valid” and […]