Mumbai: A Mumbai court on Saturday remanded the managing director of Viva group Mehul Thakur and a chartered account in Enforcement Directorate custody till January 27 in connection with the Rs 4300-crore PMC Bank fraud case. Thakur and CA Gopal Chaturvedi were arrested under the Prevention of Money Laundering Act...
BharatPe raises Rs 50 cr debt from Trifecta Capital
New Delhi: "BharatPe is committed to empowering the small merchants and Kirana store owners with easy to use and secure fintech products. The fact that we have been able to raise debt from all three renowned venture debt providers – Alteria, Innoven and Trifecta Capital - in the largest single...
PNB customers will not be able to transact from non-EMV ATMs from February 1
New Delhi: Punjab National Bank is important information for customers. PNB has taken important steps to protect customers from fraud through ATMs. The bank has said that PNB customers will not be able to transact from non-EMV ATMs from next month i.e. from 1 February 2021. This restriction will apply...
BharatPe raises Rs 139 cr debt from Alteria Capital, ICICI Bank
New Delhi: Founded by Ashneer Grover and Shashvat Nakrani in 2018, BharatPe offers merchants a single interface for all UPI apps like Paytm, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge and others. It also facilitates loan facility for its merchant partners. Speaking to PTI, BharatPe co-founder and CEO Ashneer Grover said...
Bank credit grows 3.2 pc in first nine months of FY21
New Delhi: In the fortnight ended March 27, 2020, bank advances stood at Rs 103.72 lakh crore. Bank deposits rose 8.5 per cent to Rs 147.27 lakh crore in the April-December 2020 period as against an increase of 5.1 per cent a year ago, according to the recent data released...
HDFC Bank Q3 net rises 14.36 pc to Rs 8,760 cr
New Delhi: At the standalone level, the net profit for the three-month period grew 18.09 per cent to Rs 8,758.29 crore. Its total income increased to Rs 37,522 crore on a standalone basis compared to Rs 36,039 crore in the year-ago period. The results, the first earnings to be declared...
NPAs of banks may rise to 13.5% by September 2021
New Delhi: Due to the covid 19 epidemic, the value of assets in books of accounts in banks may decrease and there may be a shortage of capital. This was said by Reserve Bank of India (RBI) Governor Shaktikanta Das. The central bank said that this risk could happen especially...
RBI to resume normal liquidity management operations in phased manner
Mumbai: In February last year, RBI had announced a revised Liquidity Management Framework (LMF) that was simplified and "clearly communicated" the objectives and toolkit for liquidity management. However, in view of the COVID-19 outbreak, the rapidly evolving financial conditions and taking into account the impact of disruptions due to the...
State Bank raised Rs 4391 crore from overseas bonds
New Delhi: The State Bank of India (SBI) has raised $ 600 million (Rs 4,391 crore) from the Regulation S bond through its London branch at a 1.8% coupon rate. The bond has been benchmarked against the 5-year Treasury bond and its price has been set at a spread of...
RBI to be on a long-pause in rates on sticky non-food inflation: Report
Mumbai: It can be noted that the high inflation driven by the food prices has forced the RBI to go for a status quo in rates for the three consecutive reviews of the bi-monthly policy meetings, even as growth continues to be in the negative territory. The RBI expects the...