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Haribhakti & Co was the auditor of Srei Infrastructure Finance, whose board was superseded by the RBI and against which insolvency proceedings were initiated last week.The Reserve Bank of India (RBI) on Tuesday banned chartered…

On 12 October 2021, banks in Agartala and Kolkata will remain shut due to Durga Puja (Maha Saptami). Image: ReutersBank Holidays in October: As the festive season has started, banks in India will remain closed for up to 14 days, starting…

The per-transaction limit in IMPS, effective from January 2014, is currently capped at Rs 2 lakh for channels other than SMS and IVRS, for which it stands at Rs 5,000. The Reserve Bank of India (RBI) on Friday made a series of…

In June, the central bank had given in-principle approval to a consortium set up by Centrum Financial Services and BharatPe to acquire the beleaguered co-operative bank.The resolution process for Punjab and Maharashtra Co-operative (PMC)…

Customers can now directly participate in primary markets through the ASBA facility and avail the benefit of high savings account interest until the date of allotment of shares.Equitas Small Finance Bank (Equitas SFB) on Wednesday…

Sumit Bali, group executive & head - retail lending, Axis BankRetail lending has recovered well from the lows seen in April-May, but supply-side issues are hurting auto loan growth, Sumit Bali, group executive and head – retail…

Balance transfers have turned out to be a preferred option for foreign banks as they are easier to source. They are considered safer, too, as the lender gets a snapshot of the borrower’s repayment track record.Taking advantage of record…

The Rupee Cooperative Bank has notified the scheme of the Deposit Insurance and Credit Guarantee Corporation (DICGC) to refund account holders up to Rs 5 lakh.The administrator of the Rupee Cooperative Bank, CA Sudhir Pandit, met Union…

CASA is seen at Rs 62,191 crore during the second quarter, a y-o-y increase of 18%.Federal Bank’s deposits and advances grew by 10 % year-on-year (y-o-y) during the second quarter of the current fiscal, the bank said in a regulatory…

“It is a truncated board and they want to keep it that way to have a controlling stake. It helps them to take unilateral decisions against shareholders' interests, corporate governance, Companies Act, Sebi LODR and even RBI circulars,”…