Banks may refer GMR, Prayagraj, SKS, 8 other power companies to NCLT

The other companies are SKS Ispat Power, Meenakshi Energy, Athena Chhattisgarh Power Jhabua Power, KSK Mahanandi, Coastal Energen and Jindal India Thermal Power, among others.

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No clearance of non-CTS compliant cheques from January: Punjab National Bank

This eliminates the cost of movement of physical cheques and reduces the time for clearance for better delivery of services to customers.

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Airtel Payments Bank offers card-less cash withdrawal facility at select ATMs

Airtel Payments Bank has tied up with Empays to enable its savings account holders to withdraw cash using just their mobile phone through card-less cash tech.

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Over 20 banks stare at penalty for missing daily Aadhaar enrolment targets

Nearly 23 banks, including ICICI, HDFC and Bank of Baroda, will face UIDAI action if Aadhaar target is not met.

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IDFC Bank sells 12 power sector loans to Edelweiss ARC at one fourth price

The merger between Capital First and IDFC Bank is likely to be effective by the end of this calendar year.

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Irdai ask insurers to provide 60-days grace period for health insurance premium

Heavy rains and subsequent floods have adversely affected life and property in Kerala and some districts of Karnataka.

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Union Bank expects Rs 2,000 crore recovery from resolution of stressed power projects

The project cost of GMR project was Rs 11,542 crore with debt component of Rs 8,173.9 crore while equity of Rs 3,367.54 crore.

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Bank of Baroda hikes MCLR by 5 bps across tenors

The bank has revised MCLR at 5 basis points (bps) above existing level across all tenors with effect from September 7, 2018, the bank said in a release.

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Bank depositors should be recognised as financial creditors in IBC cases

The Insolvency and Bankruptcy Code, 2016 (IBC 2016) is applicable to insolvency resolution and liquidation of corporate persons, that is, a company as defined in the Companies Act, 2013, or the limited liability partnership as defined in the LLP Act, 2008.

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Lenders sitting in the LAP of disaster?

Loans to MSMEs, usually given to small entrepreneurs, have risen in the last four years as both banks and NBFCs have rushed to fund this sector

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Why aren’t gaps in SWIFT fixed, RBI asks bank chiefs

In PNB, the fraud went on for years undetected as the bank’s SWIFT system was not integrated to its core banking system.

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Trying to have a bank since 2000: LIC tells Delhi High Court on move to acquire 51% stake in IDBI

The query by the court came after the ASG said LIC policy holders need not worry about losses as the government will take care of their claims/investments.

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Aadhar Housing Finance - making home loans accessible to all

Owning a house is a dream that every Indian grows up with. However, while there are various options for people in the middle and higher income groups to avail loans and fulfil this dream, it is the low income group that has been always been in the periphery.

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