Kotak arm for infra debt fund services gets RBI registration

Kotak Mahindra Bank today said its subsidiary for providing infrastructure debt fund services has been registered with the Reserve Bank of India."The Reserve Bank has issued a Certificate of Registration to Kotak Infrastructure Debt Fund, subsidiary of the Bank," the bank said in a filing.With this, the subsidiary will commence business of non-banking financial institution as Infrastructure Debt Fund (NBFC-IDF), it said.IDFs are investment instruments sponsored by banks or NBFCs, in which domestic/offshore institutional investors, specially...

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SBI ATM in Odisha spews out cash automatically, bank suspects malware attacks

State Bank of India has ordered a forensic audit into an automated teller machine in Odisha that spewed out cash without any card being swiped. It's one of about 10 cash dispensers around the country belonging to various banks that have behaved in this manner.The suspicion is that these are localised hacks on machines running outdated software but don't involve any wider network infections."A forensic audit is currently underway and we are trying to understand whether a software malfunction caused the glitch in its systems," said a senior State...

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