Though asset quality of banks has continued to improve 67% of those surveyed reporting a drop in NPAs over the last six months, some sectors like textiles, infrastructure, retail, food processing, metals and iron and steel continue to show high level of NPAs.

Currently, Axis Bank and its two subsidiaries - Axis Capital Ltd and Axis Securities Ltd - collectively own 12.99 per cent of Max Life Insurance post approval of the deal in April last year. Under the deal, the Axis entities also have the right to acquire an additional stake of up to seven per cent in Max Life, in one or more tranches, subject to regulatory approvals.

During the preceding fortnight (ended July 29), bank credit had grown by 14.52 per cent and deposits by 9.14 per cent. In FY 2021-22, bank credit in India went up by 8.59 per cent and deposit by 8.94 per cent.

The commercial office segment, which was significantly impacted by the pandemic, has made a strong comeback in the last 3-4 quarters, supported by strong economic growth, increased hiring, and a return to the office trend, keeping the office sector buoyant. The Indian office market grew substantially and delivered a strong performance in the first half of 2022. Office transactions recorded at 25.3 million sq ft, a 107% on-year growth, indicated the potential of the market on the back of a waning pandemic and the promise of a sustained economic recovery.

Inviting asset reconstruction companies (ARCs) to put their bids for transferring the loan account of Apollo Distilleries & Breweries, the city-based lender said it will expedite the due diligence process and make available the documents at one place for verification of the prospective buyer.

While the CBDT had issued a set of guidelines in June with regard to the applicability of the newly introduced section 194R in the Income Tax Act, the banking sector had specific concerns with regard to their businesses and operations.

India is considering selling at least 51% of the $5 billion bank, people familiar with the matter have said, in what is set to be the biggest sale of the government’s stake in a lender in decades.

At present, any one of the six documents-passport, Aadhaar, voter's identity card, NREGA card, PAN card or driving licence-is required towards proof of identity and proof of address to open a bank account. It becomes difficult to trace multiple accounts of an individual if they are not linked and are opened with different KYC documents.

Following a resolution passed in the Extraordinary General Meeting (EGM) held on August 24, 2022, and recommendations from SBI, the board of directors has approved recategorisation of Kumar and Tewari as nominee directors with effect from August 25, 2022, Yes Bank said in a regulatory filing.