SBI Cards and Payment Processes is in the process of enrolling "delinquent" customers, who did not repay after the end of the moratorium, in the Reserve Bank of India (RBI) restructuring scheme or its own repayment plan to provide them more time for repayments, a top company official said. … [Read more...] about SBI Card to enrol ‘delinquent’ customers in restructuring plans: MD
ICICI said the impact on asset quality may be for a short term. However, it will be important to track borrowers' behaviour after the completion of moratorium period, it said. As per the brokerage, working capital loans and unsecured loans like personal loans and credit cards are at higher risk of default. … [Read more...] about IndusInd Bank deposits shrink by 10-11%, brokerages see tough road ahead
It was in 2012 that a credit committee of ICICI Bank in which Chanda Kochhar was a member in her capacity as CEO signed a letter sanctioning a loan to Videocon promoter Venugopal Dhoot. ICICI was part of a consortium of more than 20 banks and financial institutions that disbursed the loan of Rs 40,000 crore to consolidate debt and expand into oil and energy. India’s third biggest lender ended up loaning Rs 3,250 crore to Dhoot’s business. … [Read more...] about ICICI-Videocon case: Deepak Kochhar arrested. Is Chanda Kochhar next?
"We are in the midst of a paradigm shift towards a sustainable future… Switching over to e-mobility, we tied up with M&M to introduce electric cabs in 2019. Since then we have focussed on researching and developing tech infrastructure and adding more and more electric cars in our fleet," Meru Mobility Tech''s spokesperson said. … [Read more...] about Mahindra Electric Mobility globally launches MESMA 48 platform for EVs
Health-tech company Biofourmis on September 3 said it has raised $100 million (about Rs 733.7 crore) in funding led by SoftBank Vision Fund 2. The series C round also saw participation by existing investors Openspace Ventures, MassMutual Ventures, Sequoia Capital and EDBI, a statement said. … [Read more...] about Biofourmis raises $100 million funding led by SoftBank Vision Fund 2