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.
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.
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.
"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.
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.
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 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.
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.
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.