Government statistics show that many promoters have been forced to pay their dues only by the prospect of legal action.

Axis Bank, an institution based in India intends to increase its ownership, in Max Life insurance from 9.99% to 16.2% by making an investment of 16.12 billion rupees.

RBI proposes raising the UPI Lite transaction limit to Rs 500 for smoother small-value payments, reducing authentication for speed. NFC tech enables offline payments, addressing weak connectivity issues.

RBI Governor Shaktikanta Das announced the third consecutive pause on rate hikes by the monetary policy committee, signaling readiness to act if needed.

On Monday, rating agency Moody’s cut the credit ratings of a number of American banks and issued a warning that it was examining the situation of some of the major lenders in the country.

Regulators in the United States are preparing to draft a rule that will likely dramatically increase the capital requirements for larger banks, requiring them to reduce expenses and hold onto profits in an effort to protect against future losses that would affect clients and investors.

Flipkart has teamed with Axis Bank to provide personal loans to its 450 million consumers, with amounts ranging from lakh to lakh and various repayment choices. Loan approval is intended to take about 30 seconds, providing customers with convenience and accessibility.

Confidential area loan specialist HDFC Bank on Wednesday posted its June quarter update for both independent business and the combined element. The bank’s independent business saw a development of almost 16% in progress while consolidated substance’s — HDFC Bank + HDFC — propels have risen by in excess of 13% year-on-year.

HDFC Bank DHFC merger: Following the merging of the HDFC twins, a large number of equity mutual funds will have more than 10% stock exposure in HDFC Bank shares.

The Reserve Bank of India (RBI) has given Reliance Industries, the largest firm in the nation by market value, permission to keep $2 billion in addition to the $3 billion it raised in the previous fiscal year under the largest syndicated credit facility in years.

Das said that the MPC agreed to leave the policy rate steady at 6.5 percent at its monetary policy meeting. It was the same at the last (April) meeting.

On Monday, the Swiss international investment bank UBS announced that it would purchase Credit Suisse “as soon as June 12.” Following a government-backed rescue earlier this year, this takeover would result in a massive balance sheet of $1.6 trillion.