The order was passed after the markets regulator noticed the investors of certain FMPs launched by Kotak Mahindra Mutual Fund were not paid their full proceeds based on the declared Net Asset Value (NV) as on their respective maturity dates. The order will come into force with immediate effect, as per Sebi.
Under this program, MSME borrowers, across 200 cities, will now be able to apply for unsecured credit of up to Rs 50 lakh at extremely attractive rates, with no processing charges.
The list includes Goldman Sachs, Citigroup, Kotak Mahindra and SBI Caps, Reuters quoted a government source as saying.
As you rightly pointed out, it is because the extraordinary stimulus has led to system liquidity surplus, resulting in lower market borrowing rates, larger and higher rated corporates are sitting on huge piles of cash. They have repaid their borrowings in the market. So the credit growth of the industrial sector has been driven by mid corporates and some refinancing.
The terms of UBI's executive directors -- Manas Ranjan Biswal and Gopal Singh Gusain -- have been extended vide a notification dated August 26, the lender said in a regulatory filing.
"It is patently untenable order and would not stand legal scrutiny if the vehicle makers or any other aggrieved party goes on appeal," D. Varadarajan, a Supreme Court advocate specialising in company/competition/insurance laws, had told IANS.
PhonePe co-founder and Chief Technology Officer Rahul Chari said while demonetisation was a catalyst for digital transactions, the company has had almost a "maniacal focus" on trying to improve at scale.
A penalty of Rs 3 lakh has been imposed on Jijamata Mahila Sahakari Bank, Pune, Maharashtra for non-compliance with the directions on exposure norms and statutory/ other restrictions-urban co-operative banks (UCBs), the central bank said.
Buying ability of consumers across the country has been significantly reduced due to the pandemic. They are either avoiding a single big payment or entirely skipping to buy any new item, Ezetap said.
If you are looking for a transparent and hassle-free personal loan application experience, you will find that Finserv markets checks all the right boxes. In addition, they have a wide range of partners on-boarded, which makes them an effective marketplace to visit for multiple loan options.
"The primary listing of HDFC AT 1 bond demonstrates the competitiveness of both the IFSC exchanges --India INX and NSE IFSC internationally," Manoj Kumar, Executive Director, IFSCA said.
The central government notified GICs as a financial service relating to financial products and financial services under the IFSCA Act on October 16 last year.
Under the bank sponsorship programme, the RBI has permitted Core Banking Solution (CBS) enabled co-operative banks to issue ATM cards or ATM-cum debit cards to its customers in association with the sponsor bank.