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IIHL takes control of Reliance Capital, puts new board members in place

TREND | 19 Mar 2025

Business Standard

IndusInd International Holdings Ltd (IIHL) on Wednesday took control of Reliance Capital (RCAP), completing a three-year resolution process after paying off the debt-ridden firm's lenders. IIHL has taken over the board of the RCAP and its subsidiaries, and the first meeting of the new board was held on Wednesday, sources said. According to sources, new board members include Moses Harding John and Arun Tiwari as approved by the Reserve Bank of India (RBI). With this acquisition, IIHL gains control over about 40 entities, including key subsidiaries like Reliance Nippon Life Insurance, Reliance General Insurance, Reliance Securities, and Reliance Asset Reconstruction. The company aims to establish bancassurance ties and implement digitization across these subsidiaries. "Now, with this acquisition, we are entering the insurance business in addition to banking. We also took a 60 per cent stake in Invesco's mutual fund business, and once approvals are in place, we will have a complete ..

UCBs must be mindful of responsibilities: RBI Governor Sanjay Malhotra

TREND | 19 Mar 2025

Business Standard

The RBI governor's observation assumes significance in light of the RBI's restrictions, including curbs on deposit withdrawals at Mumbai-based New India Co-operative Bank

Urban co-op banks must be mindful of trust reposed by depositors: RBI Guv

Business Standard | 19 Mar 2025 7 more

Urban co-op banks should be mindful of their responsibilities: RBI Governor

Business Line | 19 Mar 2025

IndusInd Bank fiasco: How could it impact banking sector & is it a stock to buy amid recovery?

livemint | 19 Mar 2025

What's behind the fiasco at IndusInd Bank?

Economic Times | 19 Mar 2025

Ready to increase stake in IndusInd Bank after getting RBI approval, says Hinduja

Business Line | 18 Mar 2025

RBI and Bank of Mauritius sign MoU to promote use of local currencies for cross-border trade

Business Line | 18 Mar 2025

Promoters will step in if needed to infuse capital in IndusInd: Hinduja

Business Standard | 18 Mar 2025

LIC Asks RBI For 100-Year Bonds, Eyes Health Insurance Stake Amid Industry Slowdown

NDTV Profit | 18 Mar 2025

TREND | 19 Mar 2025

February 2025 Economy Update: CPI inflation moderates MoM, unemployment rises

by Trendlyne Analysis

Trendlyne Analysis

In February, Consumer Price Index (CPI) inflation eased to 3.6%, while Wholesale Price Index (WPI) inflation ticked up to 2.4%. The Manufacturing Purchasing Managers' Index (PMI) decreased compared to the previous month, while Services PMI witnessed a surge.

The unemployment rate rose in February. Foreign institutional investments (FII) and and mutual funds (MF) witnessed outflows during the month. Crude oil prices declined on a MoM basis in February.

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New India Bank case: Depositors ask RBI for measures to revive bank

TREND | 18 Mar 2025

Business Standard

An organisation representing depositors of the New India Co-Operative Bank, hit by alleged embezzlement of Rs 122 crore, have submitted a petition to the Reserve Bank of India, seeking immediate measures to revive the bank for ending their financial hardships. In the petition, the organisation said it suspects that "deeper financial irregularities like undisclosed non-performing assets (NPAs) or additional frauds could be contributing to the crisis". On February 15, the Economic Offences Wing (EOW) of the Mumbai police arrested Hitesh Mehta, General Manager and Head of Accounts of the New India Cooperative Bank, for allegedly misappropriating Rs 122 crore from the bank. Two days prior to that, the RBI had imposed several restrictions on the bank, including on withdrawal of funds by depositors, citing supervisory concerns emanating from the developments in the bank, and to protect the interest of its depositors. A day later, it superseded the cooperative bank's board for a year and .

Donald Trump names Michelle Bowman as top Federal Reserve bank regulator

Business Standard | 18 Mar 2025

RBI Governor Malhotra flags rising customer grievances as serious concern

TREND | 17 Mar 2025

Business Line

He urged banking leaders to dedicate time weekly to grievance handling and root cause analysis