Tamilnad Mercantile Bank, which will have its IPO open Monday, has appointed Krishnan Sankarasubramaniam as its MD and CEO with immediate effect.
Recoveries from insolvency cases have increased to 30.6% in Q1 of FY23 compared to 26% in year-ago period.
SAT dismisses appeals filed by minority shareholders of Tamilnad Mercantile Bank to stall the bank from going ahead with its Rs 832-crore IPO.
Taking advantage of RBI’s easing of norms to aid incremental foreign fund inflows, Yes Bank has hiked interest rate on NRE fixed deposits by 50-75 basis points; FCNR deposits are also attracting higher rate of interest.
IndusInd Bank enters into partial guarantee programme with ADB with an initial outlay of Rs 560 crore, exclusively towards supply chain financing.
India’s GDP expanded 13.5% in the April-June quarter, its fastest growth in a year, but missed the RBI estimate of 16.2%.
Bank credit growth accelerated to 14.2% in the quarter ended June 2022 compared to 6% a year ago, RBI data showed.
After more than a year, RBI lifts restrictions on American Express Banking Corp and allows it to issue cards to new customers in India.
National Asset Reconstruction Co. Ltd will be paying its CEO a total remuneration of Rs 1.7 crore per annum.
Indian banks are increasing issuance of certificates of deposits (CDs) to secure cheap funding. The other option would be to raise deposit rates more sharply.
Aggressive expansion pursued by Adani Group has put pressure on its credit metrics and cash flow; in worst-case scenario, the group may spiral into a debt trap and possibly a default, warns CreditSights.
The largest claim of Rs 4,669 crore has been made by US-based Bank of New York Mellon; Bank of Baroda follows next.
Not wanting to be seen as being opposed to privatisation of banks, RBI clarifies that a paper by its researchers do not reflect its stand on the issue.
As on 31 March 2022, women constituted 21.7% of the workforce and the target is to increase it to 25% by 2025.
Stating that big bang privatisation of public sector banks can do more harm than good, RBI article asks government to take nuanced approach on this issue.
