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

ujjivan bank: loan collection is improving, according to Ujjivan Small Finance Bank

Ujjivan Small Finance Bank, which is going through a management crisis, said its loan recovery had improved and its portfolio at risk had been reduced in August. The bank said its action plan to improve asset quality has started to bear fruit. Portfolio at risk (PAR) was reduced to 21.7% from 30.8% in June with […]

Bank insurance

ABA Bank Insurance Investigation Report

Where is your bank’s coverage in terms of insurance carried by your peers in the asset class and the industry as a whole? Are you behind, ahead, or in the middle of the pack when it comes to financial institution bonding, cybersecurity, and directors’ and officers’ liability coverage? The ABA’s 2021 Bank Insurance Survey Report […]

Bank service

FinTechs may be subject to the law on banking services companies, without even knowing it

As the relationships between traditional banks and financial technology firms (“fintechs”) become more complex and interconnected, closer regulatory scrutiny of these relationships is a certainty. The Bank Service Company Act (“BSCA”), an old law that is receiving renewed attention, provides a means for US federal banking agencies to learn about certain relationships between banks and […]

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 […]

Bank loan

Woman Turned Down Bank Loan at 22 Starts Kitchen Table Fashion Business – Three Years Later She’s Close to Making Her First Million

Fashion entrepreneur Ainsleigh-Paige Rigby didn’t let being pushed back on a bank loan at age 22 keep her from starting her own business from her kitchen table – and now she’s on. the point of selling his first million at the age of 26. Ainsleigh first came up with the idea of ​​creating a range […]

Bank loan

CARE revises ratings of Akshar Spintex bank credit facilities

Akshar Spintex Ltd has informed that ratings have been assigned to the Company by CARE Ratings Limited for the Company’s bank loan facilities totaling Rs20.02cr. Long-term bank facilities were assigned a CARE BB + / Stable rating while short-term ratings were reaffirmed at CARE A4. According to the Rationale Report, the revision of the long-term […]

Bank loan

Business News | Stock market and stock market news | Financial news

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