Govt receives revised financial bids for IDBI Bank stake sale
The government has received revised financial bids for the strategic sale of IDBI Bank from Fairfax Financial Holdings and Emirates NBD, sources said on Tuesday. A final decision on the successful bidder will be taken once the financial bids are opened, which is likely very soon, sources added. According to sources, both the bidders have […]
RBI’s forex push may bring $60-70 bn inflows
The Reserve Bank of India’s (RBI) forex swap measures for FCNR(B) deposits and external commercial borrowings (ECBs) by state-owned companies could attract foreign capital inflows of $60–70 billion, according to India Ratings and Research. The move is also expected to provide support to the Indian rupee. Indian Banking News https://indianbankingnews.com/news/rbi-forex-push-may-bring-usd-60-70-bn-inflow
IDFC First says KPMG found Chandigarh fraud was isolated branch-level scam
MUMBAI: Private sector lender IDFC First Bank said a forensic review by KPMG found that the ₹646 crore fraud uncovered at its Chandigarh branch earlier this year was an isolated incident involving collusion between branch employees, customer representatives and third parties. In a stock exchange filing on Friday, the bank said the findings reaffirmed that the fraud was […]