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Several people were cheated in the last few years by cyber frauds because they have stored their card data on the merchants website for future payments.
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SBI paid Rs 67.84 crore for the acquisition of 13.42 per cent stake in SBI Global Factors Ltd (SBIGFL), it said.
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Founded in 2010, Vistaar provides small business loans to shops, mills, hotels and manufacturers. It operates 196 branches in 12 Indian states and has lent more than $300 million so far, according to its website. It says it typically extends business loans of $1,200 to $60,000 for five to 10 years.
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The country's largest lender, State Bank of India (SBI) on Thursday clarified that it has not been identified as a nodal bank for handling Russia-related transactions.
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State Bank of India (SBI), the country’s largest lender, is opening special rupee accounts to handle Russia-related trade settlements in the local currency but is not the main bank for such business.
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However, the number of transactions through the Unified Payments Interface (UPI) has seen a steady increase over the past one year. Data from GoKwik shows that 64% of all orders were placed via COD in Q2 2022, although preference for UPI has also increased by nearly 20% in the last one year.
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The Tamil Nadu-based bank's Managing Director and CEO S Krishnan who recently assumed office said retail, agriculture and micro, small and medium enterprises (RAM) segments would be the focus areas as this vertical comprises 88 per cent of the bank's exposure.
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Reliance Commercial owes creditors ₹9,017 crore. Authum has offered ₹2,207 crore - a 75% haircut for secured creditors - largely funded by internal cash reserves accumulated in the debtor and also some cash payment by Authum.
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The increase in the benchmark lending rates comes weeks ahead of the Reserve Bank of India's (RBI) monetary policy meeting, which is again expected to hike rates to tame inflation. According to the schedule, the next three-day monetary policy meeting will be held from September 28 to September 30.
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Currently, retirees submit an exit form to NPS and a proposal form to insurers at the time of superannuation. The insurance sector regulator has also allowed insurance companies to take the annual life certificate through digital means.
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CBDT said in a detailed clarification that OTS or loan waiver by a bank will not be treated as a benefit or a perquisite and not face Tax Deducted at Source as they would have to bear the additional cost of tax deduction besides the haircut.
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In India, insurers are mandated to submit various returns to the regulator, including financial statements on annual basis, valuation of assets and liabilities as well as solvency margin and actuarial report.
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Suresh has close to 10 years of experience across law firms including AZB & Partners and Cyril Amarchand Mangaldas. He brings in-depth understanding of legal, compliance, regulatory, transactional, and structuring aspects of multiple sectors, including banking, information technology, manufacturing, e-commerce, real estate, retail, healthcare, insurance, and education.
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Economists see Reserve Bank of India governor Shaktikanta Das and his monetary policy panel colleagues to begin dialing down the pace of interest-rate hikes this month after data showed a weaker-than-expected recovery last quarter.
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Advices an individual can use while investing in the market for wealth creation
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Retail inflation accelerated in August on the back of high food prices, reversing a three-month downward trend and remained above the Reserve Bank of India’s (RBI) upper tolerance level of 6% for the eighth consecutive month, which may prompt the central bank to raise interest rates again. The retail inflation data showed cereal and product prices rose 9.6% in August while vegetable prices shot up 13.2% during the month.
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Reliance Commercial owes creditors ₹9,017 crore. Authum has offered ₹2,207 crore - a 75% haircut for secured creditors - largely funded by internal cash reserves accumulated in the debtor and also some cash payment by Authum.
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This is the second time since the RBI implemented the inflation targeting approach that retail inflation has exceeded the upper tolerance limit of 6% for eight straight months – the first time was from April 2020 to November 2020. The finance ministry, on the other hand, expressed optimism that the government's export ban on atta, rice, maida, and other grains would help to keep prices in check.
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JCFlowers ARC won the non-performing loan portfolio in an uncontested Swiss auction for Rs 11,183 crore, after Cerberus Capital and Asset Reconstruction Company of India (Arcil) that had teamed up for a bid dropped out of the race, as reported by ET on September 9.
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Banks collectively through the Indian Banks' Association (IBA) reached out to the government over the issue last month, people familiar with the development said.
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New Delhi, Sep 11 (PTI) Suitors for debt-ridden Reliance Capital Limited (RCL) have sought extension of up to 4 months for submission of binding bids as part of its resolution process.
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