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Standard Life sells about 5% stake in HDFC Life Insurance for Rs 5,752 cr

As of September 2019, Standard Life held 19.69 per cent equity stake in HDFC Life. Post the bulk deal, Standard Life's stake will drop to 14.73 per cent

Centre initiates process to appoint two full-time members on Irdai board

Both the appointments shall be made by the central govt on the recommendations of the Financial Sector Regulatory Appointment Search Committee.

DHFL crisis: Banks stare at huge provision burden if fraud is established

KPMG did a forensic audit on DHFL. Its draft report has startling findings and says DHFL could have diverted funds to promoter-led entities

Bajaj Finance to seek RBI's nod to raise ECB limit to $1.4 billion

Now, the company has sought shareholders' approval for raising the limit which they expect to get in five-seven days

Kotak Mahindra Bank profit surges

On a standalone level, which represents the banking operations, PBT at Rs 2,100.63 crore was up 20.6 per cent YoY, while net profit was up 51 per cent YoY to Rs 1,724.48 crore

Direct sale of loans by NBFCs and HFCs takes a knock in H1, says Icra

Securitisation under pass-through certificate (PTC) transactions was to the tune of Rs 92,000 crore in the past one year

Piramal Enterprises profit before tax rises 29% to Rs 733 crore in Q2

The revenue of the company saw an increase of by 15% to Rs 3,604 crore for Q2FY20

Fairfax offloads 4.9% stake in ICICI Lombard for Rs 2,627 crore

FAL Corporation, a subsidiary of Canada-based Fairfax, sold 22 million shares at Rs 1,178 apiece via block deals, the data provided by stock exchanges showed

Mumbai police file FIR in PMC Bank fraud case; ED may initiate probe soon

Police to set up SIT team, hire forensic auditor

RBI relief for PMC Bank depositors, withdrawal limit hiked to Rs 40,000

RBI said it reviewed the bank's liquidity position and, with a view to reducing the hardship of the depositors, it decided to further enhance the limit

Wadhawans, Waryam Singh instructed me to hide bad debt, says Joy Thomas

However, when the accused came face to face, they shifted the onus of their acts onto each other, revealed the remand extension application given by the EOW in a Mumbai court on Monday

RBI governor Shaktikanta Das discusses rate transmission with PSBs

The RBI governor also reviewed the credit off-take situation prevailing in the economy amid a slowdown, said sources

UK Sinha-led panel's plan for phased roll-out of group insolvency norms

UK Sinha-led committee recommends coordination in domestic companies of a group in the first phase

Single investor buying RCom would be preferred: Resolution professional

The AGM saw shareholders expressing disappointment on how their wealth got eroded because of the firm going bankrupt

Crisis-hit PMC Bank used dummy accounts to escape RBI's attention

The bank misled auditors of the RBI by replacing legacy accounts of the company with dummy accounts, dating back to 2008

RBI got a whiff of evergreening at Punjab and Maharashtra Co-operative Bank

Central bank had flagged large-scale non-performing advances, but didn't have adequate evidence till September 19

DHFL appoints former SBI executive Vajinath Gavarshetty as new CEO

Shareholders vote on debt conversion plan at the AGM on Saturday

PMC Bank set to file FIR against sacked managing director Joy Thomas

Joy Thomas to be charged with misrepresenting the bank's books and hiding bad debts of HDIL

IL&FS debacle, slump in real estate led to default, says Altico Capital

Management has sought signing of ICA by lenders to restructure liabilities

New corporate tax rates closer to global ones, says Shaktikanta Das

The finance minister on Friday slashed the effective corporate tax rates to 25.17 per cent (inclusive of all cess and surcharges) from 30 per cent for all domestic companies