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Karnataka Bank declares loan over Rs 160 crore to Reliance Home, Reliance Commercial as fraud

Private sector has declared accounts of and Reliance Commercial Finance a fruad with combined loan outstandings of over Rs 160 crore to the lender. The bank has reported to the Reserve Bank regarding frauds in the credit facilities extended earlier to two listed companies -- Reliance Home

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Mumbai-based NBFC Authum Investment wins Reliance Home with more than 90% votes

Mumbai-based non-banking finance company Authum Investment and Infrastructure has been declared as the preferred bidder for Anil Ambani's debt laden Ltd (RHFL) with over 90% of the creditors voting for the company. Saturday was the last date for the voting which started on May 31 and creditors which included

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HDFC Bank to buy stake worth over Rs 1,906 crore in group’s general insurer from parent

HDFC Bank on Saturday said its board has given its approval to buy more than 3.55 crore shares in group firm HDFC ERGO General Insurance Company for over Rs 1,906 crore from the parent company (HDFC). "The board of directors of HDFC Bank at its meeting held on

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Srei Equipment Finance gets Rs 2,000 cr investment proposal from US-based Arena-led consortium

Srei Equipment Finance Ltd (SEFL) on Saturday said it has received investment interest of Rs 2,000 crore from US-based Arena Investors LP (Arena) led consortium. A day earlier, the company had received a Rs 2,200 crore investment proposal from Singapore based Makara Capital Partners Pte Ltd (Makara). The strategic

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Mentha oil spikes 8% in 3 days. Is there more juice left for traders?

NEW DELHI: Mentha oil jumped nearly 6 per cent on Friday to touch a one-year peak due to unfavourable weather conditions causing a delay in arrival. On the Multi Commodity Exchange (MCX), mentha oil futures (June 30) surged as much as 5.66 per cent to Rs 1,040 per kilogram -

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BharatPe CEO assures PMC Bank depositors as Centrum-BharatPe get in-principle approval from RBI

In an exclusive interview with ET Now, BharatPe's Co-Founder Ashneer Grover discusses the recent announcement made by the Reserve Bank of India which has now allowed Centrum and BharatPe to take over PMC Bank. Centrum along with BharatPe is now coming to the rescue of lakhs of depositors after

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It’s a bank, PMC will be part of, it’s not takeover, says Centrum’s Jaspal Bindra

(This story originally appeared in on Jun 19, 2021)For Jaspal Bindra, who headed Standard Chartered Bank’s Asia operations in his 40s, the road back to banking is a challenging one. Bindra, who exited StanChart to turn entrepreneur by acquiring a stake in in 2016, will have to

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Peter Thiel-backed psychedelic start-up’s shares pop in Wall Street debut

Shares of the Peter Thiel-backed psychedelic start-up Atai Life Sciences jumped Friday on its first day of trading on Wall Street.The newly listed Nasdaq stock opened up 40% before pulling back some.The German biotech's initial public offering was priced Thursday night at $15 per share, the high end of

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