RBI Penalizes Central Bank of India and Sonali Bank PLC for Violations The Reserve Bank of India (RBI) recently imposed penalties on Central Bank of India and Sonali Bank PLC for regulatory violations. This action underscores the central bank’s commitment to maintaining discipline and adherence to financial regulations in the banking sector. Penalties Imposed Central…
Prem Prabhakar Appointed MD and CEO of SBICAP Ventures Limited New Leadership at SBICAP Ventures Prem Prabhakar has been appointed as the Managing Director and Chief Executive Officer of SBICAP Ventures Limited (SVL). This significant appointment marks a new chapter for SVL, a wholly-owned subsidiary of SBI Capital Markets Limited, which is in turn a…
Scheme of Amalgamation Announced by Aditya Birla Capital and Aditya Birla Finance for the Creation of a Large NBFC In the ever-evolving landscape of the financial sector, Aditya Birla Capital and Aditya Birla Finance have recently unveiled a groundbreaking scheme of amalgamation. This strategic move aims to foster the development of a robust Non-Banking Financial…
RBI Approves HDFC Bank’s 90% Stake Sale in HDFC Credila The Reserve Bank of India (RBI) has given its nod to HDFC Bank’s proposal to acquire a 90% stake in HDFC Credila Financial Services Pvt Ltd. This move marks a significant development in the financial sector and underscores the growing importance of strategic acquisitions in…
LIC Acquires 6.7% Stake in Jio Financial Services via RIL De-merger Action The financial world is witnessing a significant development as the Life Insurance Corporation of India (LIC) has acquired a substantial 6.7% stake in Jio Financial Services. This strategic move comes as a result of the Reliance Industries Limited (RIL) de-merger action. In this…
