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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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Aditya Birla ARC, Arcil among companies eyeing SBI’s KSK Mahanadi loan

Aditya Birla ARC, Arcil among companies eyeing SBI’s KSK Mahanadi loan

[ad_1] Varde Partners-backed Aditya Birla Asset Reconstruction Company, Kotak Mahindra Bank-backed Phoenix ARC and Avenue Capital-backed Arcil are among a dozen applicants interested in acquiring a ₹3,815-crore KSK Mahanadi Power loan from State Bank of India, said people aware of the matter. It is the largest stressed loan sale by any

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Chinese banks continue to dominate; ICICI latest Indian entrant among top banks in APac

Chinese banks continue to dominate; ICICI latest Indian entrant among top banks in APac

[ad_1] Chinese banks continued to dominate the Asia-Pacific banking scene accounting for six out of the top ten slots by assets in 2021, according to S&P Global Market Intelligence. India's ICICI Bank has entered the top 50 list for the first time to join State Bank of India (SBI) and

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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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Merger of HDFC entities to increase M&A prominence among banks: Fitch

Merger of HDFC entities to increase M&A prominence among banks: Fitch

[ad_1] The proposed merger of HDFC Bank and HDFC Ltd could redefine the competitive landscape for banks, and increase the prominence of M&A among lenders seeking to close market-share gap with the merged entity, Fitch Ratings said on Tuesday. Fitch believes that the proposed merger of the HDFC entities and

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Rs 50,000 cr loans to be transferred to bad bank by April-end: Union Bank MD

Rs 50,000 cr loans to be transferred to bad bank by April-end: Union Bank MD

[ad_1] Transfer of 15 bad loan accounts worth Rs 50,000 crore to the National Asset Reconstruction Company could not be completed within the deadline due to procedural delays, Union Bank of India Managing Director and CEO Rajkiran Rai G on Wednesday said, and assured that the process will conclude by

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SBI economists suggest reforms to incentivise regional rural banks

SBI economists suggest reforms to incentivise regional rural banks

[ad_1] House economists at the State Bank of India (SBI) have called for a slew of reforms to incentivise regional rural banks, including granting them on-tap licence for conversion into Small Finance Banks (SFBs). In September 2018, the Reserve Bank of India (RBI) allowed urban cooperatives and microfinance lenders to

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