Banking Sector

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

Swadesh Banking consolidates various segments including rural branches, banking outlets, banking correspondents, financial and digital inclusion units, and small and marginal farmer lending units

The corporation's shareholding in Sun Pharmaceuticals decreased from 12,05,24,944 to 7,22,68,890 equity shares as per the exchange filing

A number of ZEEL's lenders, including IDBI Trusteeship, IDBI Bank, Axis Finance, JC Flowers Asset Reconstruction Co., and Imax Corp., had objected, but the NCLT had rejected their arguments.

The Indian conglomerate has been in discussions with lenders for a number of months in order to restructure the up to $3.8 billion in debt it took on to buy Ambuja.

The block deal involved approximately 5.1 crore shares, equivalent to a 0.8 % stake in the bank, with an average floor price of Rs 94.50

IDFC First Bank's share price increased nearly 2% in response to the block deal news

The Indian government and LIC currently hold approximately 95 % of the bank's shares.