Regulatory Action – RBI, SEBI

Bank of India under PCA Framework RBI has now included Bank of India under the Prompt Corrective Action Framework following an on-site inspection under the Risk Based Supervision Model for the financial year 2016-17. This is in view of its high NPA (Non-Performing Assets) and negative ROA (Return on Assets), among other factors. Under the PCA …

Ola buys Foodpanda and Bitcoin

Ola buys Foodpanda as an answer to UberEats The Bangalore-based cab aggregator Ola is making its foray into the online food delivery space by acquiring Germany-based Delivery Hero’s Indian arm Foodpanda India. This is expected to give a tough competition to not just UberEats but also to other players like Swiggy and Zomato in the …

Subsidies go into Airtel Payments Bank

It has been reported that over Rs. 167 Crores of LPG subsidy of over 37 lakh consumers has been credited to Airtel Payments Bank Account, most of which have been opened without the subscribers’ ‘informed consent’.  These accounts had been opened by Airtel alongside the mandatory Aadhaar-linking process.The linked bank account under the DBT scheme …

Tata Steel and HDFC Bank Raise Funds

Tata Steel Rs. 12,800 Crore Rights Issue The Board of Directors of Tata Steel has, at its meeting held on December 19, 2017, has approved the issue of equity and equity-linked instruments by way of a rights issue to its existing equity shareholders to raise a sum of Rs. 12,800 Crores. This will be deployed …

Submission of Financial Information to Information Utilities under IBC

According to Section 215 of Insolvency and Bankruptcy Code (IBC), 2016, a financial creditor shall submit financial information and information relating to assets in relation to which any security interest has been created, to an information utility (IU). Chapter V of the IBBI (Information Utilities) Regulations, 2017, which has come into force with effect from …