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Experts flag dubious biz model of digital small money lending apps

Digital small money lending apps backed by financial professionals are using dubious means in their business with borrowers bearing the brunt, experts have flagged. These mobile apps offer loan of a few hundred rupees to about Rs 10,000. "However, they hold back at least 25 per cent of the

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ADIA to invest Rs 665 crore in Aditya Birla Health Insurance

Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund of the emirate state will invest Rs 665 crore in Aditya Birla Health Insurance (ABHI), for a 9.99% stake valuing the company at Rs 6650 crore. The transaction has been approved by the board of directors of (ABCL), the

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SBI drags Simbhaoli Sugars to bankruptcy over Rs 395 cr loan

() has dragged to bankruptcy over a ₹395 crore loan, according to people briefed on the matter. The company markets sugar under the Trust brand and has a pan-India distribution set up. It also exports its products to the Middle East, Southeast Asia and Africa. SBI has claimed at

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Home loan demand growth from India’s tier 3, 4 districts outpacing metro cities, SBI Research says

Demand for home loans from India’s tier 3 and tier 4 districts have been growing at a faster pace than the top two tier districts, including Mumbai and Delhi (NCR), while the country’s home loan market is likely to double in five years, according to a study by SBI

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DBS Group bullish about India, to grow through ‘phygital’ model in country: says CEO Piyush Gupta

DBS Group CEO Piyush Gupta is bullish on commercial potential in India and has utilised a "phygital" strategy to grow in the country, giving best-in-class digital capabilities to consumers complemented by a robust physical network. The organisation sees an opportunity to broaden its business profile, which is dominated by major

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CAG report: PSU general insurers logged ₹26k cr loss between FY17 & FY21

All four public sector general insurers posted an aggregate loss of ₹26,364 crore between 2016-17 and 2020-21, according to an audit report by the Comptroller and Auditor General of India (CAG). The losses of health insurance business of PSU insurers either wiped out or decreased profits of other lines of

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Axis Bank to wind up UK subsidiary after deal with OpenPayd fails

India's third largest private lender is winding up its subsidiary in Britain after a deal with financial firm OpenPayd failed, it said in a regulatory filing on Thursday. Axis Bank first said in 2020 that it will be winding down its UK operations. Currently, the bank's international strategy

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