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In case of Indigo, independent directors were blamed. Today, I'm being blamed for being intrusive, asking questions is not interference, says Chakraborty.
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Bank must contribute to economy by providing credit growth in the right areas and support government schemes, Chakraborty tells Moneycontrol
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The rupee fell to a fresh record low on the last trading day of the financial year, as importers took advantage of the rise in the currency
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Oil marketing companies were seen buying the dollar to hedge their positions, traders say
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While calling for board minutes and recordings of proceedings is typically a procedural step, sources say the intent in this case is to corroborate information provided by Atanu Chakraborty, the bank’s former part-time chairman, by examining the minutes of meetings.
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The move comes after last week's resignation of former part-time chairman Atanu Chakraborty and sacking for three senior executives linked to the alleged mis-selling of Credit Suisse's AT-1 bonds
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Stating that a plain strategy of cross-sell will never make money, Jain is clear that he won’t burn Rs 1,500 crore every year in the payments biz just to sustain it.
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On March 20, the rupee touched a lifetime low of Rs 93.76 to the dollar, surpassing its previous record low of Rs 92.63 per dollar.
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Chakraborty opposed the reappointment of MD&CEO Sashi Jagdishan without a performance review. Objections were also raised on elevating Jimmy Tata as a board member in place of Bhavesh Zaveri when the latter’s term ends on April 12, sources said
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Market participants and analysts expect the rupee to test the 93 psychological mark on a surge in demand for dollars from OMCs
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The long-pending IDBI divestment reportedly failed because the bids were below the base reserve price. Experts say higher valuation expectations, legacy risks and control concerns weigh heavy on IDBI as government mulls next steps
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The local currency was flirting with the record low over renewed fuel supply concerns
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The local currency lost nearly 70 paise on March 4 in one of the largest single-day drops in recent months
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EY is said to be conducting a due diligence on IIFL Samasta Finance. IIFL Capital and DAM Capital have been appointed as bankers to the deal.
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The US-Israeli strikes on Iran and the latter’s retaliation are rattling global crude markets and emerging economies
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Where our differentiation becomes most visible is when clients go beyond a single market. Competing with major domestic banks purely for local business is not our model: BofA India CEO
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Moves come after the the lender flagged a Rs 590 crore fraud in one of its branches in Chandigarh
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Our investors who know us for over a decade, trust us and appreciate our capability to build long term businesses with good governance, V Vaidyanathan tells Moneycontrol in an interview
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The new RBI draft rules for advertising, marketing and mis-selling of financial products aim to strengthen consumer protection and curb malpractices in financial institutes
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The proposal to evaluate 26% ceiling on voting rights is viewed as a step towards removing the restrictions around foreign banks taking strategic initiatives. Change will be applicable only to banks operating through the wholly owned subsidiary route.
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The General Insurance Council has finalised standard treatment and admission guidelines for seven of the country’s most common infectious diseases following extensive consultations with healthcare providers
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Optimistic about the bank’s commercial vehicle financing business, Rajiv Anand, MD & CEO, IndusInd Bank, is working on garnering more deposits from CV-specific branches.
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RBI's commentary indicates we may be headed for a long pause. The question is how will the liquidity management happen from here on
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In addition, the RBI will release a draft framework on loan recovery and the conduct of recovery agents, says Sanjay Malhotra during MPC speech
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By holding the repo rate at 5.25 per cent and sticking to a neutral stance, the central bank is signalling that low inflation is an achievement to be protected, not a cue for haste.
