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SBI moves insolvency plea against Jaiprakash Associates before NCLT

SBI moves insolvency plea against Jaiprakash Associates before NCLT

[ad_1] Country's biggest lender SBI has moved the National Company Law Tribunal (NCLT) against Jaiprakash Associates Ltd for initiation of insolvency proceedings against the debt-ridden company. State Bank of India (SBI) in its plea filed before the Allahabad bench of NCLT has claimed a total default of Rs 6,893.15 crore

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Axis Bank to tap into rural, semi-urban markets to expand credit card business

Axis Bank to tap into rural, semi-urban markets to expand credit card business

[ad_1] There has been a consistent rise in income in India's semi-urban and rural markets and this provides a great opportunity to the banking industry to augment the size of the country's credit card market. Keeping a close eye on these developments, Axis Bank is aiming to capture a greater

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ICICI Bank launches ‘Festive Bonanza’ for its customers

ICICI Bank launches ‘Festive Bonanza’ for its customers

[ad_1] Private lender ICICI Bank on Thursday announced the launch of ‘Festive Bonanza’, a wide variety of offers for all its customers at the onset of the festive season. The customers can enjoy the benefit of discounts and cashbacks upto Rs. 25,000 which can be availed using the Bank’s credit cards,

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NIIF boss Sujoy Bose likely to exit fund after 6 years at helm

NIIF boss Sujoy Bose likely to exit fund after 6 years at helm

[ad_1] After setting it up and running it for six years since inception, Sujoy Bose, the managing director and chief executive officer of the National Investment and Infrastructure Fund (NIIF), has decided to move on, said multiple people aware of the development. His departure, however, comes at a time when

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Five banks including SBI, ICICI in talks with Singapore’s DBS Bank to begin real-time remittance system

Five banks including SBI, ICICI in talks with Singapore’s DBS Bank to begin real-time remittance system

[ad_1] At least five local banks including and are in talks with Singapore’s DBS Bank to begin a real-time remittance system with the city-state using the ubiquitous Unified Payments Interface (UPI) as the backbone, said people familiar with the matter. This will become a common remittance platform in collaboration

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HDFC aims to raise up to Rs 10,000 crore, in talks with Axis and ICICI banks

HDFC aims to raise up to Rs 10,000 crore, in talks with Axis and ICICI banks

[ad_1] India’s largest mortgage lender, Ltd, is aiming to raise up to Rs 10,000 crore by selling bonds to local investors, as higher residential sales is boosting demand for home loans. The home financier is in advanced talks with investors including and , said people familiar with the matter. The

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Banks aggressively garnering funds via CDs, FDs amid firm credit off take

Banks aggressively garnering funds via CDs, FDs amid firm credit off take

[ad_1] The recent increase in the demand for credit has pushed banks to actively solicit funds from CDs, bonds, and fixed deposits (FD). The surplus liquidity in the financial sector fell precipitously from its record level, necessitating aggressive capital raising. It has been estimated that banks have raised roughly Rs 42,000

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