"We are seeing a lot of traction on power and renewables, infrastructure, healthcare, and industrials. Renewables is one of the most active sectors right now. The government's target of 500 GW renewable capacity by 2030 has attracted a lot of foreign capital into India because no other market offers this level of scale. There is still a very large pool of capital waiting to enter India's renewables, Malhotra.
SMFG owns a 74.9% stake in SMFG India Credit Company, earlier called Fullerton India, which it purchased from Singapore's Temasek Group in 2021. The Japanese bank had valued the company at ₹23,000 crore, buying the 74.9% stake for close to ₹17,000 crore in 2021.
PFS, which has been battling allegations of corporate governance lapses, has in the past year and a half seen resignations by several independent directors and got show-causes notices from both the stock market and banking regulators.
This was enabled by a huge order from the state-owned Punjab National Bank to install over 5,200 ATMs across 526 locations, spanning 26 states in FY23, which it completed in the past fiscal. This addition to PNB's ATM network takes the total number of cash vending machines that CMS has installed and is being serviced to over 17,500 as of March 2023, which is a growth of over 50 per cent, a company official told PTI.
The company was hit hard by the second wave of the pandemic and reported Rs 894.5 crore net income last fiscal against Rs 1500 crore loss in FY22, as it could grow 10x growth in FY23 over FY22 with loan disbursements doubling to Rs 30,186.8 crore as of March and since then grown to Rs 36,000 crore.
Madhivanan Balakrishnan has been elevated as the Executive Director and Chief Operating Officer of IDFC First Bank following the RBI's approval, a statement said on Wednesday. His elevation was recommended by the nomination and remuneration committee for a period of three years, IDFC FIRST Bank said in the statement.
Bank unions AIBOC and AIBEA have opposed the Reserve Bank's move to allow lenders to settle loans of wilful defaulters under compromise settlement. On whether the RBI has introduced a new clause permitting lenders to enter into compromise settlement with borrowers classified as fraud or wilful defaulters, the central bank's FAQs said "No".
BharatPe Chairman Rajnish Kumar said, "This (Unity Bank) is our biggest investment and we are committed to build it as a new-age, digital first Bank- that appeals to customers across age groups. In the last 1.5 years, Unity Bank has built a good foundation and I am confident that it will emerge as one of the most credible banks in the banking industry in the times to come."
The merger of HDFC Bank and HDFC Ltd will have an impact on the deposit holders of HDFC Ltd. The bank is likely to offer deposit holders of the mortgage company the option to either withdraw their funds or renew deposits at the interest rate being offered at that time. Interest rates are unlikely to change until maturity but those opting for renewal of fixed deposits would likely get marginally lower interest rates compared to what they got at HDFC.