In November 2020, when the Reserve Bank of India (RBI) decided to hand over the distressed Lakshmi Vilas Bank (LVB) to Singapore’s DBS Bank, it […]
Category: Enterprise
Vedanta encumbers stake in HZL to raise Rs 1,500 cr in loans
Anil Agarwal-led resources conglomerate Vedanta has encumbered a part of its stake in Hindustan Zinc (HZL) to raise Rs 1,500 crore in loans against those […]
SBI looks to raise $500 million via dollar bonds
State Bank of India has sounded out international banks for a potential $500 million fundraise through a global bond issue, the timing of which has […]
Public Sector Banks plan app for e-auctioning 500k properties
State-run banks will set up an e-auction app to dispose of about 500,000 properties over the next five years. “Our target is that in the […]
RBI allows AU Small Finance Bank, Equitas Bank to deal with foreign exchange
AU Small Finance Bank on Wednesday said it has received permission from Reserve Bank of India to deal in foreign exchange. Reserve Bank of India […]
PSU banks list assets for sale to NARCL after finance ministry nudge
The government-promoted asset reconstruction company will evaluate accounts of about 300 distressed companies with cumulative loans of Rs 3lakh crore for acquisition this fiscal year, […]
Strong season, rush to bag tax sops to lift life insurers in Q4
Favourable seasonality and tax-rule changes pertaining to high-ticket, non-unit-linked savings products from April 1 would have ensured robust sales for Indian insurers in the March […]
Insurers seek sops to cover specially abled
General insurance companies will seek tax exemptions or direct subsidy to provide full coverage to specially abled people through new product offerings, said industry executives. […]
PTC Financial Services raises Rs 275 crore from IIFCL in its first ever borrowing since crisis
PTC India Financial Services (PFS), accused of corporate misgovernance, managed to raise Rs 275 crore from a state-owned financial institution as it looks to grow […]
Bank of Maharashtra hikes lending rates
State-owned Bank of Maharashtra (BoM) on Monday announced increase in the marginal cost of funds based lending rates (MCLR) by 10 basis points across tenors. […]