FedFina’s IPO consists of a fresh issue aggregating up to Rs 900 crore and an offer for sale of up to 45,714,286 equity shares by promoter and investor.
CSB Bank has got the RBI nod to appoint Pralay Mondal as its deputy managing director. His tenure will be for three years.
Canara Bank acquires 14.9% of India Debt Resolution Company Ltd while Bank of Baroda has picked up 12.3% stake.
Rana Kapoor and businessman Gautam Thapar, however, will not walk out of jail as they are in judicial custody in connection with some other cases.
ICICI Bank, IDBI Bank and State Bank of India account for 60% of loans to ABG Shipyard which have gone sour. Here is how much the firm owes to each of the 28 lenders.
Inflation based on CPI rose to 6.01% in January on an annual basis, mainly due to higher prices of certain food items.
ABG Shipyard will go down as biggest bank fraud case registered by CBI; firm allegedly defrauds Rs 22,842 cr, with ICICI Bank, IDBI Bank and SBI being the top 3 victims.
RBI projects India’s economic growth rate for FY23 at 7.8%, lower than 8-8.5% estimated by finance ministry in Economic Survey.
RBI has projected lower retail inflation of 4.5% in FY23 amid expectations of a normal monsoon this year and crude oil price not elevating beyond a level.
Private cryptocurrencies are a threat to financial and macroeconomic stability, RBI Governor Shaktikanta Das has warned.
Union Bank of India reported 49.3% YoY jump in Q3 net profit to Rs 1,085 crore on account of improvement in interest margins and sharp fall in provisions and contingencies.
Bank of Baroda doubled its standalone net profit to Rs 2,197 crore in Q3 amid strong growth in net interest income, lower provisions and improvement in asset quality.
State Bank of India reported a 62.27% year-on-year rise in net profit to Rs 8,431.9 crore for the quarter ended December on the back of lower provisions and improving asset quality.
Bank of India reported a 90% year-on-year jump in net profit to Rs 1,027 crore for the quarter ended December on account of lower provisions.
FM Nirmala Sitharaman proposes amendments to IBC to improve loan recovery process, while also facilitating cross-border insolvency resolution.
