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 enters into a co-origination partnership with UGRO Capital
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.
HDIL’s Rakesh Wadhawan moves NCLT for review of resolution process
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.
KVS Manian takes charge as the new Managing Director & CEO of Federal Bank
Federal Bank has appointed KVS Manian as the new Managing Director & CEO, effective 23rd September 2024. Manian joins Federal Bank after over two and a half decades at Kotak Mahindra Bank…
IndoStar Capital Finance announces sale of IndoStar Home Finance to EQT
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.
PNB downgrades MTNL’s loan accounts to NPA over non-payment of interest, instalment
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.
Victory for Sebi staff: Regulator withdraws controversial press release
Earlier, On 5 September, around 400 employees of the Sebi had protested silently at the organisation’s headquarters in Mumbai. The employees were protesting the Sebi’s clarification that their earlier letter to the finance ministry on unprofessional work culture is ‘misguided by external elements’. Earlier, Sebi had said that the allegations of toxic work culture in Sebi is misguided by external elements.
Did Sebi’s Madhabi Puri Buch invest in Chinese firms?
Also, the party has highlighted that it is deeply concerning to learn that Madhabi P. Buch, the SEBI Chairperson, has been investing in Chinese funds. When the Prime Minister of India can publicly give China a clean chit, it’s hardly surprising that a key regulatory figure is engaging in investments linked to China.
Adani-Hindenburg saga: What are the findings of the latest Swiss allegations?
What’s latest: Swiss investigations find Adani group engaged in wrongdoings. Here’s how the story unfolded.
Are we looking at a rate cut in December?
Even though this is partly due to base effect, what is more interesting to note here is that the inflation has averaged at 3.65 per cent for the first two months of the second quarter. The RBI has forecast an average 4.4 per cent inflation in the second quarter.