Curated news coverage, institutional background, regulatory filings, and investigative reporting across RDU Global.
Union Bank of India reported a 30% jump in second-quarter net profit, supported by improved margins and robust loan growth. Total advances rose 19% year-on-year to ₹11.6 lakh crore in the September quarter, with corporate lending emerging as the key growth engine.
The Supreme Court has upheld the Bombay High Court’s ruling that invalidated YES Bank’s write-off of Rs 8,415 crore in additional tier-1, or AT1, bonds, a move that had been part of the lender’s March 2020 reconstruction plan. The decision strengthens the position of institutional and retail bondholders, who now have a clearer legal route to seek recovery after years of uncertainty over the controversial wipeout.
The Supreme Court has upheld the Bombay High Court’s ruling that invalidated YES Bank’s write-off of Rs 8,415 crore in additional tier-1 bonds, a key element of the lender’s March 2020 rescue plan. The decision strengthens the position of institutional and retail bondholders seeking recovery and deepens scrutiny of how bank resolution measures were executed during the crisis.
Union Minister Jyotiraditya M. Scindia used the North East Bankers' Conclave 2.0 in Agartala to outline a broader push to deepen banking access across the region, including more branches and ATMs in underserved areas. The event also underscored the role of coordinated action between banks and government in turning financial inclusion into tangible economic opportunity for households and small businesses.
India’s Cabinet Committee on Economic Affairs has approved the strategic sale of IDBI Bank to an arm of Fairfax Group, marking what Union Minister Ashwini Vaishnaw described as the country’s largest financial-sector foreign direct investment. The government and Life Insurance Corporation of India will together retain a 34% stake in the restructured bank, underscoring a calibrated exit that preserves a significant public-sector footprint while transferring control to a private investor.
The Supreme Court on Tuesday declined to grant an interim stay on the government’s new merchant discount rate framework that imposes a 0.4% charge on certain UPI transactions above Rs 2,000. The court issued notices to the Centre, the Reserve Bank of India, the National Payments Corporation of India and other respondents after a public interest litigation challenged the legality of the levy.
The Supreme Court on Monday refused to grant an interim stay on the government’s new merchant discount rate policy for certain Unified Payments Interface transactions above Rs 2,000, allowing the levy to remain on track for an October 15 rollout. The court issued notices to the Centre, the Reserve Bank of India, the National Payments Corporation of India and other respondents after a public interest litigation challenged the legality of the charge.
Union minister Jyotiraditya M. Scindia outlined a push to expand banking access across the Northeast at the North East Bankers' Conclave 2.0 in Agartala, calling for more branches and ATMs in underserved areas. The event also underscored the role of coordinated action between banks and government in widening financial inclusion and supporting regional development.
Corporations, startups, regulatory bodies, central banks, ministries and judicial courts. All news mentioning this entity is automatically verified and aggregated into this live intelligence dossier.