Bank loan

In India’s biggest bank loan scam, CBI airport alert for ABG shipyard managers

A supervisory circular has been issued against the directors of ABG Shipyard Ltd New Delhi: Supervisory circulars have been issued against bosses and senior managers of ABG Shipyard in an alleged Rs 23,000 crore bank fraud case. A surveillance circular is used to prevent anyone wanted by law enforcement from leaving the country via airports […]

Bank loan

CBI books ABG Shipyards, administrators in Rs22,842 crore bank loan fraud

The Central Bureau of Investigation (CBI) on Saturday filed an FIR against ABG Shipyards and its directors for allegedly deceiving a consortium of banks out of Rs 22,842 crore. A complaint has been filed against them by the State Bank of India (SBI). Acting on the SBI’s complaint, the CBI filed the FIR naming Rishi […]

Bank loan

world bank: 1,000cr loan from the World Bank to expand state social programs | Kolkata News

Kolkata: The World Bank has approved a $125 million (about Rs 1,000 crore) loan to Bengal to expand coverage of about 400 state-run social schemes, especially direct cash transfers to sections vulnerable over the next four years.The Bank said a recent survey found that while food and in-kind transfers reached most poor and vulnerable households […]

Bank loan

CBI hands over two companies for alleged bank loan fraud

The CBI has registered separate bank fraud cases against two private companies involving loans of over ₹900 crore. In the first instance, the agency hired LEEL Electricals Limited and its directors for allegedly causing a loss of ₹307.10 crore to the SBI. The loan account was declared NPA in March 2019 and reported as fraud […]

Bank loan

HDFC Bank Loan Portfolio Grows 16.4% to Rs 12.6 Trillion in December Quarter

The loan portfolio of the country’s largest private lender, HDFC Bank, increased by 16.4% year-on-year (YOY) to Rs 12.6 trillion as of December 31, 2021 (Q3FY22) from 10, 82 trillion rupees a year ago. Sequentially, its advances increased by 5.1% from 11.98 billion rupees in September 2020 (Q2FY22). Commercial banks in India, […]

Bank loan

Bank loan fraud: ED attaches Rs 26-cr assets of Gujarat company, promoters

The Law Enforcement (ED) Directorate said on Monday that it had seized assets worth more than Rs 26 crore from a Vodadara-based company in a money laundering investigation linked to an alleged bank loan fraud of around Rs 2,654 crore. The properties provisionally seized under the Prevention of Money Laundering Act (PMLA) belong to Diamond […]

Bank loan

Bank credit: Agricultural, MSME and retail lending contributes to growing the bank loan portfolio

According to the latest bank credit sector deployment data released by the Reserve, bank credit rose 7.1% in November, above the 5.9% recorded in the same period a year ago, largely thanks in part to better growth in lending to individuals, agriculture and MSMEs. Bank of India Credit to agriculture and related activities remained robust […]

Bank loan

Why no action against the Essel group for defaulting on a bank loan: the congress at the center

Congress asked why an administrator was not appointed for the Essel group. (To file) New Delhi: Congress alleged on Friday that there was a connection between the Center and its “corporate friends”, and questioned why no action had been taken against the promoters of Dish TV Essel Group, which had not reimbursed the loans to […]

Bank loan

West Bengal obtains a $ 135 million loan from the World Bank to modernize its rural electricity distribution network

The International Bank for Reconstruction and Development (IBRD) approved a $ 135 million loan to West Bengal to improve operational efficiency and reliability of electricity supply in some pockets of the state. IBRD and its concessional lending arm, the International Development Association (IDA), are also collectively referred to as the World Bank. The variable spread […]

Bank loan

West Bengal secures $135m loan from World Bank to upgrade rural electricity distribution network

IBRD and its concessional lending arm, the International Development Association (IDA), are also collectively referred to as the World Bank. The International Bank for Reconstruction and Development (IBRD) has approved a $135 million loan to West Bengal to improve operational efficiency and reliability of electricity supply in some pockets of the state. IBRD and its […]

Bank loan

Holiday season retail demand and MSMEs drive bank lending growth in October

Reflecting the increased demand for the holiday season, retail bank credit covering housing, vehicles and credit cards, etc. grew 11.7% year-on-year in October 2021, up from 8.7% in October 2021. Data from the Reserve Bank of India showed year-over-year growth in home loans was stable at 8.4% in October 2021 from 8.1% a year ago. […]

Bank security

How PNB Bank’s security breach puts the sensitive data of millions of people at risk

A critical security vulnerability at the Punjab National Bank (PNB) has exposed the personal and financial data of more than 180 million customers in the past seven months, the cybersecurity firm said CyberX9 claims in a report. The vulnerability was patched by PNB on November 19 after it was reported to CERT-In and NCIIPC, the […]

Bank loan

Vodafone Idea could get State Bank loan after India offers relief

The ailing Indian unit of Vodafone Plc is in talks with the country’s largest lender over new loans, people familiar with the matter say in a deal that could pave the way for other banks to offer credit and increase the trapped wireless operator’s chances of survival. . The State Bank of India has asked […]

Bank loan

Vodafone Idea could get loan from state bank after India offers relief

(Bloomberg) – The ailing Indian unit of Vodafone Plc is in talks with the country’s largest lender over new loans, people familiar with the matter say in a deal that could pave the way for d other banks to offer credit and increase the chances of survival of the trapped wireless operator. The State Bank […]

Bank loan

Bank lending to MSMEs: Growth of credit to micro and small enterprises in September compared to the previous year

Credit and Finance for MSMEs: The total gross bank credit of Rs 13.20 lakh crore deployed in the MSME sector in September 2021 was 12.04% of India’s overall gross bank credit of Rs 109.56 lakh crore. Credit and finance for MSMEs: After two months of positive growth in the annual deployment of gross bank credit […]

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 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 […]