2023-12-01 18:50:40 Former KPMG managing partner Narayan Seshadri will take over as chairman of the India Debt Resolution Co Ltd (IDRCL), the agent to government-backed bad bank, after the board of the company approved the appointment on Friday, people familiar with the development said. The IDRCL chairman position became vacant after Diwakar Gupta resigned earlier … Read more
2023-11-03 16:32:40 Union Finance Minister Nirmala Sitharaman on Friday appreciated the State Bank of India (SBI) for becoming the first foreign bank in Sri Lanka to successfully launch a pathbreaking direct Sri Lankan Rupee-Indian Rupee trade. Sitharaman, who is on a three-day official visit to the crisis-hit island nation, along with P.S.M. Charles, the Governor … Read more
2023-09-17 14:47:17 State Bank of India (SBI) has proposed measuring the timelines of various segments within the Insolvency and Bankruptcy Code (IBC) process to pinpoint and address significant delays. At an industry event focused on IBC, Ashwini Kumar Tewari, Managing Director, SBI, emphasised that while the legislation sets a 330-day overall outer time limit, tracking … Read more
2023-08-25 19:14:27 India has leapfrogged over the last decade and other countries can learn from its financial inclusion model and move much faster, State Bank of India (SBI) chairman Dinesh Kumar Khara said on Thursday. “If you look at it in our country, I think it’s a lesson for all of the globe on how … Read more
2023-08-03 13:36:51 The investment and production in the government’s production-linked incentive scheme will start meaningfully only from the current year, said economists at SBI Mutual Fund in a note on Friday, highlighting that the scheme is on track with the government receiving investment commitments of 60% of the capex target. “Investment commitments in auto has … Read more
2023-07-10 09:41:38 The Supreme Court on Monday rejected a plea against the RBI circular allowing exchange of 2000 rupee notes without ID proof, citing it as “an area of the executive governance.” A bench of Chief Justice D Y Chandrachud and Justice P S Narasimha dismissed the appeal filed by lawyer Ashwini Updhyay. “Allowing exchange … Read more
2023-06-30 09:50:08 Rice and dal can turn into a disappointing combo for the Reserve Bank of India (RBI). Even as the RBI rate-setting panel had kept the benchmark lending rate at 6.5 per cent in June for the second consecutive time after a cumulative hike of 250 basis points since May last year as inflation … Read more
2023-06-27 19:32:15 Sekura, an infrastructure platform owned by Edelweiss Infrastructure Yield fund, has begun exclusive talks to acquire a portfolio of 11 hybrid annuity model (HAM) road projects worth approximately $670 million from Ashoka Concessions, a subsidiary of construction company Ashoka Buildcon, said two people aware of the development. ET first reported on 23 April … Read more