A day after IndusInd Bank acknowledged that frauds by employees had a role to play in accounting irregularities, Ashok Hinduja, chairman of the promoter group IIHL, expressed confidence that the interim management’s ‘swift’ clean-up would help rebuild trust in the lender.
Reserve Bank of India has proposed easing norms for investments by banks, NBFCs and other regulated entities in alternate investment funds.
Enforcement Directorate arrests former UCO Bank CMD Subodh Kumar Goel in alleged bank loan fraud case of over Rs 6,200 crore linked to a Kolkata-based company.
Reserve Bank of India has fined Yes Bank and Deutsche Bank AG, India for non-compliance with certain regulatory norms.
In a clear sign that interest rates are falling, SBI has reduced deposit rates by 20 basis points in all maturity buckets.
IndusInd Bank’s internal audit department also finds Rs 674 crore has been incorrectly recorded as interest in the microfinance loan book over three quarters of FY25.
IndusInd Bank’s top two executives traded in its shares while being aware of accounting lapses at the bank in its derivatives portfolio but before those were made public, an audit report by Grant Thornton has found.
RBI slaps penalties on State Bank of India and Jana Small Finance Bank for certain deficiencies in compliance of norms.
Grant Thornton’s report has identified certain aspects which may require determination from insider trading perspective, IndusInd Bank said.
Sumitomo Mitsui Banking Corporation is acquiring 20% stake in Yes Bank for Rs 13,482 crore, making it largest cross-border M&A deal in India's financial sector; SBI and 7 others to sell.
Union Bank of India’s top management lands into trouble for an unusually large book order worth Rs 7.25 crore with Rupa Publications; CEO Manimekhalai may not get an extension.
RBI slaps penalties on five lenders, including ICICI Bank, Bank of Baroda and Axis Bank, over deficiencies in certain regulatory compliances.
RBI allows IndusInd Bank’s board to appoint ‘committee of executives’ to oversee operations in absence of CEO; interim arrangement until new CEO takes charge or for three months.
IndusInd Bank’s deputy CEO Arun Khurana resigns with immediate effect, after global audit firm Grant Thornton submits report throwing light on accounting discrepancies in lender's derivatives portfolio.
The affiliate firms of Warburg Pincus and ADIA will own 15% stake in IDFC First Bank; fund raise will fuel lender's next phase of growth.
