Banking Sector

It ordered the lender to pay ₹5,000 for litigation costs, ₹5,000 for compensatory damages, and ₹5,000 for mental suffering.

On March 31, 2024, Jaimin Bhatt, the group president and group chief financial officer who succeeded Gheewalla, will retire.

Over the past three months, the private sector lender's stock has surged by 29%, contrasting with the 2.5% rise in the benchmark Sensex

IDFC Limited and IDFC Financial Holding Company Limited into IDFC FIRST Bank Limited

On February 10 of this year, the private sector lender with its headquarters in the city declared its intention to purchase Sonata.

The net NPA ratio also increased by 40 % YoY in July-September, with net NPA at Rs 2,366 crore compared to Rs 1,679 crore in the same period last year.

Tewari's two-year contract extension will take effect on January 28, 2024.

The approval is in response to IFC's application to RBI, and compliance with other regulatory bodies is necessary for stake holding post approval.

Approval is valid for one year and comes with the condition that HDFC AMC's shareholding in both banks should not exceed 9.5%

The partnership focuses on offering MSME business loans and Gold Loans mainly to borrowers in non-urban areas