Central bank governor Shaktikanta Das said the proposed bad bank, considered crucial in helping extract capital stuck in soured loans, will be a new asset reconstruction company (ARC) set up by public sector lenders to take over bad assets.
The case involves one where Citibank acted as an administrative agent for a term loan taken by Revlon, and where it was to wire approximately $7.8 million in interest payments to Revlon’s lenders. Instead, Citibank wired almost $900 million. It mistakenly sent the principal amount
In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings.
The bank is offering customised loans in Chhattisgarh, Karnataka, Andhra Pradesh, Telangana, Madhya Pradesh, Maharashtra, Odisha and Rajasthan, which saw a growth in demand last year.
The standardized product set to go live from April 1 has been named “Saral Suraksha Bima.” The minimum sum assured has been set as Rs 2.5 lakh.
On Thursday, Twitter went a step further, announcing ambitious plans to expand with new options to pay for exclusive content from certain users, and to launch communities for specific interests.
In 2019, TikTok settled a $1.1 million lawsuit over alleged children's privacy allegations.
Startups that, despite losing money, sell stocks at steep premiums based on growth projections, being asked to explain valuations
Vijay Shekhar Sharma-led Paytm is expected to play a leading role in the consortium, in which Ola Financial and IndusInd Bank will have significant stakes, three people aware of the matter told ET.
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