HDFC Bank: The Reserve Bank of India found HDFC Bank violated Know Your Customer (KYC) norms as laid down by RBI’s Master Direction – Know Your Customer (KYC) Direction, 2016. The RBI’s inspection found HDFC Bank allotted multiple customer identification…
Read More
US investment banks may reduce their workforce if dealmaking remains slow due to economic uncertainties and potential tariffs. Wall Street firms like Goldman Sachs, JPMorgan, and Bank of America are already planning layoffs. Banks are monitoring their pipelines and staffing…
Read More
Parliament has passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees. The bill also redefines ‘substantial interest’ in a bank and increases directors’ tenure in cooperative banks from 8 to 10…
Read More
The Reserve Bank of India has scheduled its bi-monthly monetary policy committee meetings for the fiscal year 2025-26, starting from April 7-9. The committee, which includes three external members, will deliberate on the economic situation before announcing its monetary policy…
Read More
Siemens Energy is divesting 90% of its wind business in India and Sri Lanka to an investor group led by TPG, transferring 1,000 employees and two plants. This move aims to streamline focus on core markets, with the new company…
Read More
Adani Group has expressed interest in acquiring Jaiprakash Associates Ltd, which is undergoing insolvency. The National Company Law Tribunal has mandated that the acquisition be for the entire firm. JAL, with debts of ₹55,493.43 crore, has seen its loans transferred…
Read More