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Karnataka Bank, a private lender based in Mangaluru, announced that the Reserve Bank of India (RBI) has granted approval for the appointment of Sekhar Rao, the bank’s executive director, as the interim managing director and chief executive officer. The duration of the appointment is for three months, starting from April 15, 2023, or until the … Continue reading “Sekhar Rao appointed as interim MD and CEO of Karnataka Bank”
A possible reason for the rise in NPAs post-Q4 FY23 could be the way banks disclosed CGFMU and ECLGS in their books.In its Q1 FY24 analyst call, the management explained that since CGFMU was in the nature of insurance, it used to mark it as an NPA whenever the customer crossed 90 days past due. … Continue reading “Why Bandhan Banks Rs 23,300-Crore Credit Guarantee Portfolio Is Under Audit — Exclusive”
The Reserve bank of India (RBI) on Thursday accorded its approval to Life Insurance Corporation (LIC) for acquiring up to 9.99% stake of the paid-up share capital or voting rights of HDFC Bank.India’s largest insurer LIC has been advised by the banking regulator to acquire this shareholding in the bank within a period of one … Continue reading “LIC to acquire 9.99% stake in HDFC Bank”
