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Banking Sector

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RBI-Mahindra-Finance
RBI restrains Mahindra Finance from using recovery agents after accident
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State-Bank-of-India
SBI says it's not a nodal bank for Russia-related transactions
IANS -
The country's largest lender, State Bank of India (SBI) on Thursday clarified that it has not been identified as a nodal bank for handling Russia-related transactions. The clarification by the bank came in response to reports in certain sections of media that it had been identified as nodal bank for looking after Russia-related transactions.
Reliance-Commercial-Finance
Lenders set to reject DB Realty's One Time Settlement plan for RCFL
IANS -
The 18 lenders led by the Bank of Baroda (BOB) will also be discussing the One Time Settlement (OTS) proposal by DB Realty for its Rs 633 crore default in RCFL. According to the banking sources, the OTS proposal of DB Realty is likely to be rejected by the lenders as they are offering less than 50 per cent of the total outstanding dues of Rs 633 crore.Moreover, both the promoters, Vinod Goenka and Shahid Balwa, are also involved in multiple cases with CBI and ED.
Sanjay-Khanna
Sanjay Khanna appointed CEO of American Express India
IANS -
In his new role, Sanjay Khanna will also spearhead several strategic and business development initiatives for the company while steering smooth collaboration across its diverse businesses in India. His position will be key to advancing and strengthening the company's strategic focus in India.
Personal-retail-loans
Personal retail loans record impressive year-over-year growth: Report
IANS -
The number of active loans increased to 6 crore by March 2022, from 4 and 3.5 crore in the March 2021, and 2020, respectively. While, personal loans book size rose to Rs 8 lakh crore in March 2022, from Rs 6 lakh crore in March 2021. According to report, the highest number of personal loans were disbursed by NBFCs (Non-Banking Financial Company) followed by private banks.
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Bank-of-Baroda
Majority of Indian states plan to meet fiscal deficit target for FY23: Bank of Baroda
IANS -
In FY23BE, the 21 states analysed have budgeted to meet the fiscal deficit target of 3.61 per cent, down from 3.71 per cent in FY22RE. Revenue deficit is expected to come down to 0.6 per cent from 1 per cent in FY22RE, and primary deficit is expected to remain broadly steady at 1.38 per cent versus 1.44 per cent in FY22RE, the report notes.
Bank-of-Baroda
Bank of Baroda to raise up to Rs 2,500 cr via Basel-III AT1 bonds on Aug 30
IANS -
The auction for the additional tier-I bond is expected to be held on August 30 on the BSE's bidding platform. The source expects there will be higher demand for the bonds from the investors considering the issuances taken place in few days where coupon has been set lower. "On the upcoming AT1 bond of Bank of Baroda, we expect coupon to set between 7.80 per cent and 8.00 per cent," the source cited said.
Reserve-Bank-of-India
Listed private non-finance companies log 41% sales growth in Q1FY23: RBI
IANS -
The RBI came out with its report, drawing the data from the abridged quarterly financial results of 2,749 listed private non-financial companies. "Sales growth (yoy) of listed private non-financial companies surged to 41.0 per cent in Q1:2022-23 from 22.3 per cent in the previous quarter," it said. According to the RBI, manufacturing logged sales growth of 41.6 per cent driven by broad based demand expansion across industries aided by both volume and price effects.
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