The largest private lender in India HDFC Bank on Monday said the Reserve Bank of India (RBI) has agreed to the proposed merger with a parent loan and HDFC hypotek. Both entities have announced an agreement in April.
Reserve Bank of India on Monday sentenced the private sector lender of the Mahindra Bank box for failing to comply with certain regulatory guidelines and sentenced ₹ 1.05 crore. RBI has also slapped a fine ₹ 1 Crore at the Indusind Bank.
IT Department has said that compensation for the sentence collected by the US court in the company in the Epic Systems Corporation case has been reduced to $ 140 million. The company says the case is not supported by facts and does not abuse or benefit from epic documents.
The company has completed the acquisition of Neelachal Ispat Nigam Ltd State Owned for 12,100 Crore, the center said. Strategic divestment of steel makers based in Odisha is underway since January 2021.
Car makers expect the second half of the fiscal to be better in terms of performance with a gradual increase in overall supply situations and stabilization of commodity prices, according to the Chairman of the company N Chandrasekaran.
Mining giant reports 3% increase in its aluminum production to 5.65,000 tons in the April-June quarter from the ongoing fiscal. Metal production mined in Seng India increased 14% to 2,52,000 tons because of higher ore production in all mines and supported by better factory recovery.
Hospitality Companies: Central Consumer Protection Authority has banned hotels and restaurants from collecting service fees automatically or by default in food bills and enable customers to submit complaints in the event of a violation. CCPA has issued guidelines to prevent unfair trade practices and violations of consumer rights in connection with the disclosure of service costs.
Food and medicine administration -US drugs have issued two observations to drug makers based on inspections conducted at their Indore factory from June 27 to July 1, 2022. Observations related to drug archiving for products to be produced in the factory.
NBFC which focuses on gold loans said that they had received approval from the Reserve Bank of India to open 150 additional branches throughout the country. Non-bank lenders plan to open these branches in all parts of the country.