On April 22, HDFC Bank’s stock reached the Rs 15 lakh crore milestone, making it the third Indian corporation to do so. Before HDFC Bank, only Tata Consultancy Services and Reliance Industries had accomplished this feat. Following the results of the March quarter, HDFC Bank’s stock has been increasing. The standalone profit of HDFC Bank…
For breaking several rules, the Reserve Bank fined ICICI Bank Rs.12.19 crore and Kotak Mahindra Bank Rs.3.95 crore on Tuesday. According to the central bank, during ICICI Bank’s mandatory inspections in 2020 and 2021, the lender approved or committed loans to businesses where two of its directors also served as directors. In addition, the bank…
The largest non-bank lender, IIFL Finance, is using the debt market to raise up to Rs 1,500 crore by selling NCDs, promising investors returns of up to 9%. The Prem Watsa-led Fairfax Holding-backed company said in a statement on Tuesday that the debt raising through a public issue will begin on June 9 and that…
