These institutions were rescued by takeovers or bailouts, but the failures of several smaller cooperative banks remain a persistent issue. One consequence of banking failures abroad, especially in the US, has been a shift of depositor funds from smaller banks to larger, more stable ones, driven by a trust deficit. A similar trend could emerge in India, putting smaller banks under pressure.
Mahindra Finance and UGRO Capital aim to combine their respective strengths under a co-origination structure where UGRO will leverage its data analytics, distribution network and ground presence.
In his application, Wadhawan has sought to be allowed to propose a viable revival plan in the CIRP or a one-time settlement in the insolvency process, underscoring that he is interested in the maximization of the resolution value.
The transaction is subject to customary conditions precedent, including receipt of RBI approval, consents from lenders and shareholders’ approval. Further, EQT plans to invest INR 500 crore into IHFPL upon or shortly after closing of this transaction, and the board of IHFPL has granted an in-principle approval for such infusion.
As per a filing by MTNL to the stock exchanges that attaches a communication from PNB dated September 13, 2024 in this regard, across multiple accounts the outstanding amount adds up to about Rs 441 crore while the overdue amount is over Rs 46 crore.
In the case of HDFC Bank, the RBI imposed a penalty of Rs one crore after the RBI found that the bank gave gifts in the form of paying first-year premium for the complimentary life insurance cover costing more than Rs 250 to the depositors at the time of accepting certain deposits.
After the merger is complete and regulatory approvals are received, Caspian Debt will be fully integrated into BlackSoil, a press release said. This strategic amalgamation will position BlackSoil, the combined entity, as one of the largest players in the alternative credit segment it operates in
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7261 crore at the close of business on August 30, 2024, the RBI said.
