Dewan Housing Finance Corp (DHFL) said on Friday its board had approved a plan that included converting debt into equity, even as it seeks to sell assets and raise more capital.
FM Sitharaman announced the merger of 10 public sector banks (PSBs) into four entities, which includes the amalgamation of Oriental Bank of Commerce and United Bank of India with Punjab National Bank.
Digital payments in India are witnessing thriving growth with a compound annual growth rate (CAGR) of 12.7 per cent in the number of non-cash transactions, global advisory KPMG said on Thursday.
Moody's Investors Service on Wednesday downgraded private lender Yes Bank's foreign-currency issuer rating to 'Ba3' from 'Ba1', which sent the company's stocks plunging nearly 7 per cent on the BSE.
Google Pay which reported 55 million monthly active users in India in May has set eyes on tapping over 12 million ubiquitous kirana stores to write its next India growth story, a top company executive said on Wednesday.
ICICI Bank has become the first in the country to deploy industrial 'Robotic Arms' to count millions of currency notes at its currency chests across the country.
The Bimal Jalan-led panel has recommended a review of the Reserve Banks Economic Capital Framework (ECF) every five years. The report has also suggested that the RBI bring its fiscal year to April-March from next fiscal.
The government's announcement of an upfront capital infusion of Rs 70,000 crore in public sector banks will enable them to grow loans by around 13-15 per cent in the fiscal year ending March 2020, rating agency Moody's said on Monday.
The RBI Board meeting on Monday to finalise its annual accounts, is also likely to take up the Bimal Jalan panel's recommendations on Economic Capital Framework (ECF) along with the dividend payment to the government, sources said.