In a nutshell, the amendments state that a resolution plan shall not automatically release guarantors from their liabilities
Author: BNW News
SBI raises Rs10,000 cr at 7.36% through infrastructure bond issue
The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment.
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Good news for bankers: IBA, unions agree on new norms on PLI,group medical insurance
Earlier, banks used to consider only operating profit as the yardstick. However, for the financial year 2023-24, each Bank can decide any of the following parameters for granting the PLI .
PNB Introduces Safety Ring Mechanism to Enhance Security for Internet and Mobile Banking Users
Safety Ring is an optional feature that allows customers to set a daily transaction limit with respect to term deposits (TD) on online closure or availing overdraft facility on TD’s up to the set limit amount.
RBI cancels permits of Polytex India and Star Finserv citing rule violations
In the case of Polytex, the RBI said it has violated the violated RBI guidelines on code of conduct in outsourcing of financial services by outsourcing its core decision-making functions related to client sourcing, Know Your Customer (KYC) verification, credit appraisal, loan disbursal, loan recovery, follow up with borrowers and attending and resolving complaints from borrowers, the RBI said.
Rainfall picks up; sowing status better than last year, says Emkay economist Madhavi Arora
Retail food prices stay higher due to persistent heatwave conditions
Hindenburg shared Adani report with client two months before publishing it: Sebi
Sebi charged Hindenburg of making ‘unfair’ profits from ‘collusion’ to use ‘non-public’ and ‘misleading’ information and induce ‘panic selling’ in Adani Group stocks.
KPMG India appoints Reena Wahi as Partner
KPMG in India has appointed Reena Wahi as Partner and Head of People, Performance and Culture (PPC) of the firm. She will be based out of Mumbai. In this role, Reena will lead KPMG in…
Sensex closes above 80,000, Nifty ends above 24,300 mark
The Sensex closed above the 80,000 mark for the first time on July 4, marking a historic milestone, while the Nifty 50 also ended the day above 24,300 points. Despite opening higher,…