The move is a fresh step in resolving the issue surrounding the European Securities and Markets Authority's (ESMA) decision to de-recognise the CCIL following the RBI's refusal to permit rights of an external regulatory audit. Following a significant softening in the stance of the European regulators, the RBI is said to be more amenable to settling the dispute.

AU Small Finance Bank on Wednesday said it has received permission from Reserve Bank of India to deal in foreign exchange. Reserve Bank of India vide its letter dated April 19, 2023 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange, AU Small Finance Bank said in a regulatory filing.

As part of the association, a multi-media campaign featuring Virat Kohli will showcase the value proposition of banking with HSBC. Through its suite of products and services, the bank is positioned to support various facets of the Indian economy poised for a significant and sustained growth trajectory, it said in a statement.

Following a nudge from the finance ministry last fortnight, most govt-owned banks identified companies they would prefer to sell to National Asset Reconstruction Company (NARCL), the people cited above said. NARCL will identify about 20-25 accounts from the list for acquisition this fiscal year.

The lender has requested the Reserve Bank of India (RBI) for a phased approach to meet the requirements for statutory liquidity ratio (SLR) - the percentage of deposits that banks invest in government bonds - and the cash reserve ratio (CRR), or the portion of deposits that banks must hold in liquid cash, bank executives have said.

The overnight and one-month tenor MCLRs are raised by 0.10 per cent to 7.90 per cent and 8.10 per cent each while the six-month maturity bucket increased to 8.40 per cent.

Godrej Capital, a late entrant into finance among storied business groups in India, started its operations only in November 2020 and expects to expand in the crowded mortgage market in India. The company has two separate arms, Godrej Housing Finance for home loans and Godrej Finance to lend to MSMEs.

The bank said there is "apprehension that the defaulter borrowers may raise the question of personal hearing and may try to delay the adjudication in absence of specific time limit stipulated'. "They may now insist on (a) complete copy of the forensic auditor report, instead of relevant extracts," said the plea.