A senior HDFC Bank official in Kolkata was suspended on Monday after a video went viral on social media where he was seen abusing his colleagues during an internal online meeting.
Ashwani Kumar replaces SS Prasad as MD and CEO of UCO Bank from 1 June; he moves in from Indian Bank where he served as ED.
IRDAI directs SBI Life Insurance to take over unit of Sahara India Life, following the company’s “continuous deterioration of financial position”.
IDFC First Bank posts its highest-ever quarterly profit of Rs 803 cr in Q4 and highest ever yearly profit of Rs 2,437 cr in FY23.
Withdrawal of Rs 2,000 notes is statutory exercise and decision to enable their exchange was taken for operational convenience, RBI tells Delhi HC; court reserves verdict.
Small queues at bank branches and confusion over requirement of officially valid identity cards marked first day of exchanging junked Rs 2,000 notes.
RBI Governor Shaktikanta Das addresses issues relating to withdrawal of Rs 2,000 notes, including legal tender status and impact on economy; he says there is no proposal right now to reintroduce Rs 1,000 bank notes.
NCLAT upholds insolvency resolution proceedings against Go First; derails aircraft lessors’ efforts to take back planes from struggling Wadia group firm.
The Rs 2,000 notes are finding an outlet in petrol pumps as customers are using the withdrawn currency to make even small purchases.
No form or requisition slip or identity proof is required for exchange of Rs 2,000 notes up to a limit of Rs 20,000 at a time as part of exercise to withdraw high-value currency notes from circulation, SBI clarified.
Former Chief Economic Advisor Krishnamurthy Subramanian says use of Rs 2,000 note has declined significantly and is being used primarily to hoard money, as seen in several raids.
RBI says Rs 2,000 denomination banknotes will be withdrawn from circulation and asks all to exchange or deposit them by 30 September 2023.
This is nearly triple of what RBI paid to Centre a year ago, with the dividend payout being at Rs 30,307 crore in FY22.
SBI's net profit stands at Rs 50,232 crore in FY23, up 59% YoY; HDFC Bank, most profitable lender for several years, posts net profit of Rs 44,108 crore for FY23, up 19% from Rs 36,961 crore in FY22.
SBI Funds Management must ensure that its aggregate holding remains below 10% of paid-up share capital or voting rights of HDFC Bank.
