Key developments in Banking and Finance Industry

The information has been sourced from several leading media publications and curated for the readers for a quick glance

DCB Bank Limited today announced it has acquired an equity stake of 5.81 per cent for Rs 9.99 crore in its long standing business partner Annapurna Microfinance Private Limited.

All India Bank Employees Association representing the employees of public and private sector banks, today criticised the government's move to privatise IDBI Bank stating instead of recovering the bad loans.

In view of rising bad loans, their resolution and other vigilance issues, the government will kick start the second edition of Gyan Sangam - a retreat for banks and financial Institutions - by holding an interactive session with central vigilance commission (CVC).

Keen to buy government's residual stake in Hindustan Zinc and Bharat Aluminium Co, Vedenta Resources Chairman Anil Agarwal today said the government can get Rs 25,000 crore (about USD 3.7 billion) from stake sale.

Data sharing for managing frauds in the life insurance sector has become a reality at last. Experian, a global information services company has signed agreement with 15 Indian insurers in the life insurance field to this end.

Mortgage lender HDFC Ltd on Thursday said it will raise Rs 1,000 crore by issuing non-convertible debentures, to cater to its housing finance business needs.

The Central Bureau of Investigation (CBI) today lashed out at banks for delay in filing complaints and declaring Kingfisher Airlines and its promoter Vijay Mallya as a defaulter.
Japanese financial services giant Nippon Life has got markets regulator Sebi's nod for raising its stake in Reliance Mutual Fund to 49 per cent, completing the regulatory approval process for the deal.