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Government approves PMC Bank amalgamation plan

The government Tuesday approved the plan for the amalgamation of the Punjab and Maharashtra Co-operative Bank (PMC Bank) with Unity Small Finance Bank (USFBL), a joint venture between Centrum Financial services and digital payments platform BharatPe. “The scheme of amalgamation envisages takeover of the assets and liabilities of PMC Bank,

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Berkshire Hathaway’s annual meeting — Buffett’s ‘Woodstock for Capitalists’ — set to return in person after 2 years virtual

Warren Buffett at Berkshire Hathaway's annual meeting in Los Angeles California. May 1, 2021.Gerard Miller | CNBCBerkshire Hathaway said Tuesday its annual shareholders meeting will be held in person on April 30 after two years of virtual gathering due to Covid-19 restrictions.The so-called Woodstock for Capitalists has drawn tens

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SEC chair eyes tougher cyber rules to protect investors against hackers

SEC chairman Gary Gensler testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on Sept. 14, 2021 in Washington.Evelyn Hockstein-Pool/Getty ImagesSecurities and Exchange Commission chairman Gary Gensler is eyeing tougher cybersecurity rules to protect investors against financial loss and theft of personal data by hackers, he said

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Stocks making the biggest moves in the premarket: 3M, Johnson & Johnson, General Electric and more

Take a look at some of the biggest movers in the premarket:3M (MMM) – 3M rose 1.9% in the premarket after reporting quarterly earnings of $2.31 per share, 30 cents a share above estimates. Revenue also topped estimates, and 3M said its business improved during December as supply chain

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AP Mahesh Co-op Urban Bank servers hacked, Rs 12 crore siphoned off

Servers of city-based Andhra Pradesh Mahesh Co-operative Urban Bank were hacked by some people and funds to the tune of nearly Rs 12 crore were allegedly fraudulently transferred to several bank accounts across the country, police said on Tuesday. A senior official of the AP Mahesh Co-operative Urban Bank

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Micro-loan securitisation volumes may see impact in Q4 due to third COVID-19 wave: Report

The securitisation volumes in microfinance loans, which saw improvement in the first nine months of FY22, may witness some impact in the fourth quarter due to concerns over the third COVID-19 wave, Icra Ratings on Tuesday said. In the first nine months of the current fiscal, there was a

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