 "Hydra Trading sells 1.24% stake in RBL Bank for ₹152 crore, as shares plummet, while Plutus Wealth acquires SpiceJet shares.")
Hydra Trading has sold a 1.24 percent stake in RBL Bank for over Rs 152 crore through an open Market transaction. The sale involved 75.11 lakh shares, averaging Rs 203 each. As of the end of June, Hydra Trading held a 1.25 percent stake in the private lender. Following the transaction, RBL Bank’s shares fell ...
 "Amid insolvency turmoil, McLeod Russel’s Aditya Khaitan remains hopeful for bank resolutions and a brighter financial future.")
Aditya Khaitan, chairman of McLeod Russel India, expressed optimism about resolving the company’s debt issues during the annual general meeting. Despite facing multiple insolvency petitions from creditors like State Bank of India and HDFC Bank, he remains hopeful that the banks will cooperate to establish a resolution. Khaitan highlighted the potential for a better fiscal ...
 "KVS Manian begins his challenging tenure as CEO of Federal Bank, tasked with boosting deposits and maintaining sustainable growth.")
KVS Manian has officially started his role as the managing director and CEO of Federal Bank, taking over the position on Monday. With nearly 30 years of banking experience, including a long tenure at Kotak Mahindra Bank, Manian is expected to enhance the bank’s sustainable growth strategy. One of his main challenges will be to ...
Union Home Minister Amit Shah recently criticized the Jharkhand Mukti Morcha (JMM) government, accusing it of “vote bank” politics and promising to eliminate illegal immigrants if the BJP comes to power. Speaking at a rally, he pledged a health cover of Rs 10 lakh for poor residents aged 75 and older. Shah claimed that the ...
 "Amidst slowing bank funding, Aye Finance secures million to empower micro-enterprises, bolstering their mission to drive financial inclusion.")
Aye Finance, a non-banking financial company based in Gurugram, has successfully raised $30 million in a Series G funding round led by ABC Impact, which is backed by Temasek. This funding comes just eight months after Aye Finance secured $37 million in its Series F round, bringing its total funding to $164 million since 2014. ...
Ireland is facing a significant housing crisis, with the central bank warning that the country needs to build an additional 20,000 homes each year to meet the demands of a growing population. This translates to a need for around €6.5 billion to €7 billion in development financing. While homebuilding efforts have increased, with nearly 33,000 ...
 "The government plans to increase bank fines for regulatory noncompliance, aiming to strengthen deterrents against repeat offenders.")
The government is looking to increase fines for banks that fail to follow regulatory guidelines. Officials believe the current fines are too low to effectively discourage major organizations or those that repeatedly break the rules. To address this, the Centre is open to revising laws, such as the Banking Regulation Act of 1949 and the ...
 "Bidders vie for Yes Bank, but regulatory hurdles threaten their ambitions for a controlling stake.")
Yes Bank is currently facing challenges in negotiations over a potential stake sale, with two bidders, Japan’s SMBC and Emirates NBD, vying for ownership. However, their demand for a 51 percent stake may hinder progress, as the Reserve Bank of India (RBI) is wary of allowing a foreign entity to hold such a significant share ...
 "HDFC Bank is negotiating to offload Rs 8,400 crore in loans to strengthen finances amid rising credit-to-deposit ratio concerns.")
HDFC Bank, India’s largest private lender, is negotiating with global banks like Barclays, Citigroup, and JPMorgan to sell around Rs 8,400 crore (about $1 billion) in loans. This move aims to improve its credit-to-deposit ratio, which has been under pressure due to rapid loan growth compared to deposits. The bank is also in talks with ...
 "Israeli airstrikes in Gaza and the West Bank escalate violence, tragically killing civilians and stalling international cease-fire efforts amid ongoing conflict.")
In recent days, Israeli airstrikes have escalated in Gaza and the West Bank, resulting in significant civilian casualties and destruction. An attack on a UN school sheltering displaced families killed at least 14 people, including women and children. The ongoing conflict has now entered its 11th month, with over 41,000 Palestinians reported dead. Israel claims ...
