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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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Resolution primary objective of IBC; but need to be mindful of recovery too: SBI MD Swaminathan J

Resolution primary objective of IBC; but need to be mindful of recovery too: SBI MD Swaminathan J

[ad_1] The primary objective of the Insolvency and Bankruptcy Code (IBC) process is resolution of a distressed firm, but the recovery percentage also needs to be kept in mind, SBI Managing Director Swaminathan J said on Sunday. Financial and operational creditors owe money to companies facing insolvency proceedings and so recovery

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Jeevandas Narayan & Kalmanje Gururaj Acharya appointed to Karnataka Bank board

Jeevandas Narayan & Kalmanje Gururaj Acharya appointed to Karnataka Bank board

[ad_1] Mangaluru-headquartered private sector lender Karnataka Bank has announced the appointment of Jeevandas Narayan and Kalmanje Gururaj Acharya as additional directors after the Board cleared their appointments. Narayan is a commerce graduate from the Mysore University with 40 years of experience in the banking and finance sector. He is a

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IDBI Bank seeks shareholders nod for 10-fold hike in MD & CEO salary

IDBI Bank seeks shareholders nod for 10-fold hike in MD & CEO salary

[ad_1] Private lender IDBI Bank has proposed a nearly 10-fold hike in the salary of its managing director and CEO Rakesh Sharma who had been instrumental in bringing the bank out of the RBI's restrictive prompt corrective action (PCA) framework. The bank has sought the approval of its shareholders through

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‘We have been increasing deposit rates, will continue to do so’: SBI MD Ashwini Tewari on RBI policy

‘We have been increasing deposit rates, will continue to do so’: SBI MD Ashwini Tewari on RBI policy

[ad_1] The Reserve Bank of India (RBI) on Friday retained its key lending rate during the first monetary policy review of FY23. Besides, the growth-oriented accommodative stance was also retained. Central bank maintained the repo rate at 4%. "We have been increasing deposit rates and will continue to do so,"

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