Setting the tone of the interactive webinar, India's Ambassador to Israel, Sanjeev Singla, said, "We have had a landmark budget that marks a directional change and leverages far-reaching reforms that the government is effecting to make our economy more resilient and competitive."
The Hong Kong-based buyout group that owns 100% of CMS is in discussions with JP Morgan and other investment banks to formally launch a sale process shortly, tapping PE and strategic firms, said at least three people aware of the plan. The company received regulatory approval for an IPO in 2017 but didn't proceed because of the demonetisation impact.
The move comes hours after home loan segment leader SBI cut its offering to 6.70 per cent. Home loan rates were already at a 15-year-low, as banks compete in a market with low credit demand. Interest rates are linked to borrowers' credit score and the Loan to Value (LTV) ratio, Kotak Mahindra Bank said.
As per the stay obtained by SP Group, RHFL is prohibited from disposing, alienating, encumbering either directly or indirectly or otherwise part with the possession of any its assets, thus directly impacting the ongoing debt resolution.
During the month, credit growth to agriculture and allied activities accelerated to 9.9 per cent from 6.5 per cent in the year-ago period. Loans to industry contracted by 1.3 per cent in the reporting month as compared to 2.5 per cent growth in the same period last year.
She has already been selected as member (distribution) in insurance regulator, IRDAI. National, Oriental and United have reported solvency ratio of 0.02, 0.92 and 0.30 times respectively, as on March 31, 2020. The solvency margin – the minimum margin of assets required by an insurer in excess of its liabilities – is like a bank’s capital ratios.
Microfinance lenders, especially the smaller ones, are facing difficulty in raising resources from banks, which have turned ultra-cautious after the Sambandh Finserve fraud where the promoter has allegedly diverted money into his family-owned entities.
The accumulated losses as at March 31, 2021, shall be ascertained after the audited financial statements are approved by the bank's board, said the lender, as per the draft scheme addressed to its shareholders for setting off the accumulated losses.
“Some users have complained about facing difficulties in processing transactions, it’s not a widespread issue, our IT teams are looking into the issue to ensure smooth delivery of our services,” said a bank official. “Meanwhile, we apologise for the inconvenience caused to our customers.”
Through the alliance, SBI General will offer a range of general insurance solutions and innovative products to IOB customers, SBI General said in a release. Chennai-headquartered IOB has over 3,200 branches across the country and also has overseas presence.
The central government through a gazette notification on February 26, 2021 has appointed Matam Venkata Rao, Executive Director, Canara Bank, as Managing Director and Chief Executive Officer in Central Bank of India for a period of three years, Canara Bank said in a regulatory filing.
Mody is a 1982-batch Indian Revenue Service officer, was appointed as the CBDT chief in February 2019.