Inviting asset reconstruction companies (ARCs) to put their bids for transferring the loan account of Apollo Distilleries & Breweries, the city-based lender said it will expedite the due diligence process and make available the documents at one place for verification of the prospective buyer.

While the CBDT had issued a set of guidelines in June with regard to the applicability of the newly introduced section 194R in the Income Tax Act, the banking sector had specific concerns with regard to their businesses and operations.

India is considering selling at least 51% of the $5 billion bank, people familiar with the matter have said, in what is set to be the biggest sale of the government’s stake in a lender in decades.

At present, any one of the six documents-passport, Aadhaar, voter's identity card, NREGA card, PAN card or driving licence-is required towards proof of identity and proof of address to open a bank account. It becomes difficult to trace multiple accounts of an individual if they are not linked and are opened with different KYC documents.

Following a resolution passed in the Extraordinary General Meeting (EGM) held on August 24, 2022, and recommendations from SBI, the board of directors has approved recategorisation of Kumar and Tewari as nominee directors with effect from August 25, 2022, Yes Bank said in a regulatory filing.

At present, the bank's efforts are focused on ensuring that a product or service gets sold easily, while under the new set up, the emphasis will be on the experience which a customer enjoys during the process, he said.

Bank credit growth accelerated to 14.2 per cent in the quarter ended June 2022 from 6 per cent in the same period of the previous year, RBI data showed on Thursday. In June 2022, C-D ratio stood at 73.5 per cent at all-India level (70.5 per cent a year ago) and 86.2 per cent for metropolitan branches of banks (84.3 per cent a year ago).

The search giant is in the process of introducing stricter policies for listing loan offering apps on the Play Store, said Saikat Mitra, a senior director and the head of trust and safety at Google in the Asia Pacific.

Under the new rules, Indian entities can make investments in foreign companies that have Indian subsidiaries provided the whole investment structure doesn't have more than two layers. Now, there are two interpretations about how the layers will be counted, experts said.