In a significant governance development, shareholders of IndusInd Bank have voted against a proposal by promoter entity IndusInd International Holdings Ltd (IIHL) to induct two nominee directors to the bank’s board. The resolution, which required an amendment to the Articles of Association, was defeated at the bank’s Annual General Meeting (AGM) held on August 29,…
Mumbai, August 28 — In a strategic move to boost retail credit demand ahead of the festive season, Bank of Baroda (BoB) has announced a reduction in interest rates on car loans and loans against property (LAP), effective immediately. The bank has lowered its floating car loan interest rate by 25 basis points, bringing it…
New Delhi, August 23 — The Central Bureau of Investigation (CBI) has registered a case against Reliance Communications Limited (RCOM) and its promoter Anil D. Ambani in connection with an alleged ₹2,000-crore bank fraud involving the State Bank of India (SBI). The action follows a formal complaint filed by SBI after the company’s loan account…
State Bank of India (SBI), the country’s largest lender, has announced plans to raise ₹15,000 crore through Tier II bonds during the current financial year. The capital will be used to replace maturing debt and support fresh issuance, as part of the bank’s broader strategy to strengthen its balance sheet and maintain regulatory capital levels….
IndusInd Bank’s shares fell over 3% on Wednesday following the resignation of its Managing Director and CEO, Sumant Kathpalia. The stock dropped to ₹810.40 on the BSE and ₹810.05 on the NSE, reflecting investor concerns over governance and financial reporting issues. Kathpalia stepped down on April 29, 2025, citing “moral responsibility” for accounting lapses in…
The Reserve Bank of India (RBI) is under focus as speculation grows about a potential repo rate cut following the U.S. Federal Reserve’s decision to hold its interest rates steady at 4.25%-4.50%. The Fed’s pause has sparked discussions on how central banks globally, including the RBI, might respond to evolving economic conditions. The RBI had…
IndusInd Bank’s CEO Sumant Kathpalia and Deputy CEO Arun Khurana collectively earned ₹157 crore through share sales in 2023 and 2024. Both executives utilized the Employee Stock Option Scheme (ESOPs) to sell and buy shares of the bank. Kathpalia sold nearly 9.5 lakh shares worth ₹134 crore while purchasing shares worth ₹34 crore, resulting in…
A London court has ruled in favor of IDBI Bank, directing Axcel Sunshine Ltd, linked to former Aircel promoter Chinnakannan Sivasankaran, to pay $143.7 million (approximately ₹1,250 crore) towards principal and interest on a defaulted loan. The dispute stems from a $67 million loan taken in 2014 by Axcel Sunshine Ltd, a subsidiary of Siva…
HDFC Bank, India’s largest private lender by assets, plans to expand its loan securitisation business over the next few years to meet rising investor demand, said CFO Srinivasan Vaidyanathan in an interview late on Thursday. The bank aims to create space for fresh loans without increasing its balance sheet. Loan securitisation involves bundling loans and…
