Starting seven years ago as a bank, Bandhan has 5600 branches, 70 per cent of which are in the rural and semi-urban areas of the country. Mainly concentrated in the east, the bank plans to diversify its presence to other areas in a big way.
Starting seven years ago as a bank, Bandhan has 5600 branches, 70 per cent of which are in the rural and semi-urban areas of the country. Mainly concentrated in the east, the bank plans to diversify its presence to other areas in a big way.
After lenders restarted the sale process of Srei Equipment Finance and Srei Infrastructure Finance, administrator Rajnish Sharma had set a deadline of October 15 for accepting resolution plans.
While talks to form a consortium with financial investors are also underway, Shriram has not reached a mutually acceptable commercial arrangement with investors that may want to join its consortium. If a consortium is formed, the non-bank lender will be the lead member.
The Tamil Nadu-based bank's Managing Director and CEO S Krishnan who recently assumed office said retail, agriculture and micro, small and medium enterprises (RAM) segments would be the focus areas as this vertical comprises 88 per cent of the bank's exposure.
However, the number of transactions through the Unified Payments Interface (UPI) has seen a steady increase over the past one year. Data from GoKwik shows that 64% of all orders were placed via COD in Q2 2022, although preference for UPI has also increased by nearly 20% in the last one year.
This assumes importance in strengthening financial stability amid global economic headwinds which saw inflation across the globe skyrocketing following supply side disturbance as a result of the Ukraine-Russia war. The 26th FSDC meeting held in Mumbai was chaired by the union finance and corporate affairs minister Nirmala Sitharaman.
In addition to the company, the CBI has also named its directors Ashok Yogender Punj, Rajender Kumar Bahri, Chitranjan Kumar, Jagdishchandra Goel and Alok Yogender Punj as accused in the case.
A centralised processing centre has been operating in Gujarat GIFT City, which in turn supports the technology behind the whole gamut of trade finance operations offered to those customers, who otherwise pay more to get bank services compared with large companies.
The country's largest lender, State Bank of India (SBI) on Thursday clarified that it has not been identified as a nodal bank for handling Russia-related transactions.