SBI Removes Fraud Tag from Religare Finvest Following Court Order
Court-directed move signifies a positive turn for Religare Finvest's future.
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Court-directed move signifies a positive turn for Religare Finvest's future.
State Bank of India (SBI), a key lender to Religare Finvest Limited (RFL), has expunged RFL's record, previously marked as a fraud, from the Central Fraud Registry database. This action follows a court order dated December 18, 2023, issued by the Delhi High Court instructing SBI to revoke the fraud
An Impact Investors Foundation report stated that between 2019 and 2021, financial institutions deployed over $2.2bn worth of impact finance in the country.
Incidents like the wrongful crediting of hundreds of crores of rupees into accounts of UCO Bank account holders, a part of which is looking difficult to recover now, are condemned to repeat unless public sector banks do a better job of managing technological challenges
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