Bank loan

ED seizes assets of spice trading company in J&K Bank loan fraud case

The Directorate of Enforcement (ED) seized assets worth more than 145 crore of a Bengaluru-based spice company in a money laundering investigation linked to alleged fraud on loans to the J&K Bank. The agency said in a statement on Wednesday that a factory building, shops, apartments and land of the company, SA Rawther Spices, and […]

Bank insurance

Get rewarded for good driving with Standard Bank’s insurance app

The newly developed app is also aimed at the cost conscious consumer. (Image: supplied) Johannesburg September 27, 2021 – Standard Insurance Limited is delighted to announce the public launch of its highly anticipated insurance application. According to Dr Nolwandle Mgoqi-Mbalo, South Africa’s insurance manager at Standard Bank, the app makes auto insurance services available to […]

Bank loan

HDFC Bank loan restructuring | HDFC Bank 2.0 Loan Restructuring Policy: Check Eligibility, Required Documents, Impact on Credit Score

New Delhi: The Reserve Bank of India’s (RBI) aid measures to borrowers in the form of a three-month loan moratorium program, which has been extended for another three months, ended on August 31, 2020. The RBI has provided a framework for banks and lending institutions to implement resolution plans to deal with the economic fallout […]

Bank loan

HDFC Bank Lending Policy: HDFC Bank Loan Restructuring Policy 2.0: Terms & Conditions, Eligibility, Fees

To help borrowers who are having difficulty repaying their loans, the Reserve Bank of India (RBI) has lent a hand in the form of loan restructuring. In 2020, the RBI announced a loan restructuring program. And then in May 2021, due to the second wave of Covid-19, he announced a second resolution framework for many […]

Bank loan

Bank loan fraud: ED arrests CEO of Mumbai-based agribusiness

The Enforcement Directorate (ED) announced on Monday that it had arrested the managing director of a Mumbai-based agricultural company in connection with a money laundering investigation linked to alleged multi-crore bank fraud. Vinod Chaturvedi, managing director of Usher Agro Limited and other group companies, was arrested on September 17 in a case of “bank loan […]

Bank security

Bad Bank security receipts to secure Center support 30,600 crore

The government will provide a 30,600 crore yen guarantee for security receipts () issued by the proposed bad bank, Finance Minister Nirmala Sitharaman said on Thursday, announcing cabinet approval of the plan. The National Asset Reconstruction Co. Ltd (NARCL) is being established as a bad bank to take over non-performing assets, allowing banks to focus […]

Bank security

Security receipts from the wrong bank to get government backing

The long-awaited ‘bad bank’ – National Asset Reconstruction Company Ltd – has moved closer to commissioning with the Union Cabinet approving a crucial proposal that requires the government to guarantee security receipts (SRs) issued by the Union. NARCL, when purchasing NPA from banks. For starters, the government could allocate 31,000 crore yen in guarantees, sources […]

Bank service

Cross River Bank Recognized as 2021 National Community Bank Service ICBA Award Recipient for Heroic PPP Efforts

FORT LEE, New Jersey – (COMMERCIAL THREAD) – Cross River Bank (“Cross River”), a technology-driven financial services organization that provides basic infrastructure and integrated financial solutions, received the Emerging Community Bank Service Award from the Independent Community Bankers of America ( ICBA) for his main paycheck. Protection program (PPP) and community awareness following the COVID […]

Bank loan

Chicago to unveil data on bank loans in a bid to boost homeownership

(Bloomberg) – Chicago City Council on Tuesday approved a measure to increase transparency in the lending practices of city banks and help reduce property disparities in the nation’s third most populous city. The Lending Equity Ordinance will publicly share loan data and demand an annual information hearing with the finance committee, Alderman Harry Osterman, a […]

Bank loan

Investigative agency arrests AgustaWestland intermediary Rajiv Saxena in bank loan fraud case

Rajiv Saxena will soon be produced in a Delhi court. (To file) New Delhi: Defendant turned approver Rajiv Saxena in the AgustaWestland helicopter scam has been arrested by the Enforcement Branch (ED) in an alleged bank loan fraud case. It will soon be produced in a Delhi court. Dubai-based businessman Saxena was extradited to India […]