PM Narendra Modi, in his address on the 78th Independence Day from the ramparts of the iconic Red Fort hailed the reforms in the banking sector that have strengthened the banking system of India and said that Indian banks now count among strongest in world.
Indian banks and non-bank finance companies (NBFCs) are well placed to seize opportunities from the country's strong economic prospects through lending growth in sectors such as infrastructure, energy transition, manufacturing, small businesses and retail, a Moody’s report said on Wednesday.
Intolerance of economic crimes is not unique to India; Bernard Madoff the mastermind of the largest known Ponzi scheme, worth an estimated $18 billion, was sentenced by a US court to 150 years in prison, making people wonder if financial fraud was worse than violent crimes like rape and murder.
In 2021, 72 per cent of online Indian adult customers said they used a mobile banking app for their banking activities in the past month.
According to a report by Kotak Institutional Equities, net NPLs for banks are now closer to FY2014 levels.
Normally, a failed transaction is the outcome of failure in communication links, non-availability of cash or session timed out.
The partnership aims to make it possible for HDFC to further penetrate the home loan market and access an enlarged customer base, helping them to own a home of their choice, HDFC said.
Action under the Fugitive Economic Offenders Law shall be initiated soon against the Sandesara brothers and a Red Corner Notice shall be issued
Mallya has made an application in the Court of Appeal seeking permission to appeal against the order, which remains pending.
As part of the judgment, the court has also ordered Mallya, 62, to pay costs towards registration of the worldwide freezing order and of the Debt Recovery Tribunal (DRT) of Karnataka's judgment in Britain.
