Page 23 - Ortfolio Allocation News Today

Recovering six equated monthly instalments (EMIs) from a customer for a jewellery set worth Rs1,790, cost ICICI Bank Ltd Rs35,000, excluding an interest of 6%pa (per annum). In an order, the national consumer disputes redressal commission (NCDRC) directed ICICI Bank to pay Rs25,000 compensation and Rs10,000 litigation cost to a customer.

The Reserve Bank of India (RBI) on Tuesday imposed a penalty of Rs 8.80 lakh on Power Finance Corporation Ltd for breach of norms related to Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies.

The Competition Commission of India (CCI) has approved the acquisition of 70 per cent stake in Kotak Mahindra General Insurance Company Limited by the Zurich Insurance Company.

Setting aside judgments and orders and remitting an execution application to national consumer disputes redressal commission (NCDRC), the Supreme Court (SC) clarified that protection of the moratorium will not be available to the directors or officers of the company undergoing corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC).

US banks hold about $2.7 trillion in commercial real-estate loans.

Reserve Bank of India (RBI) has approved an application filed by HDFC Bank Ltd as promoter and sponsor of HDFC Bank group to acquire aggregate holding of up to 9.50% of the share capital or voting rights in six banks. It includes Axis Bank Ltd, Suryoday Small Finance Bank Ltd, ICICI Bank Ltd, Bandhan Bank Ltd, Yes Bank Ltd and IndusInd Bank Ltd.

As per the Delhi Commission of Women (DCW), 1.30 lakh complaints of various kinds of harassment of domestic servants have been registered with it, ever since the Delhi Private Placement Agencies (Regulation) Order, 2014 was implemented in the national capital.

The Reserve Bank of India (RBI) has cancelled the registration certificate of Maharashtra-based Jai Prakash Narayan Nagari Sahakari Bank Ltd, due to the lenders inadequate capital and poor earnings prospects. RBI has asked the Bank to stop banking business from 6 February 2024.

The share of domestic Mutual Funds (MFs) in companies listed on NSE rose to an all-time high of 8.81 per cent as on December 31, 2023, from 8.73 per cent as on September 30, 2023, powered by strong net inflows of Rs 58,198 crore during the quarter, as per Primeinfobase, an initiative of PRIME Database Group.

Capital Small Finance Bank (SFB) commenced operations as India’s first small finance bank (SFB) in 2016. Like other SFBs it offers a range of banking products on the asset and liability side.