Sidbi Venture Capital Ltd (SVCL) is all set to invest Rs 25 crore in Kolkata-based micro lender Janakalyan Consultancy & Services Pvt Ltd, founded last year by two former Axis Bank executives.
The NRC last Tuesday had discussed how the role and responsibility of the board be improved, sources said, indicating that the resignations are part of this process.
There is no fee for registration, but once a lender approves the loan, the borrower will have to pay a fee of Rs 1,180, including taxes and services charges.
RBI denied his extension even as the bank’s board sought an extension for him till April at a minimum.
One percentage point cut in CRR, or the amount of bank deposits parked with RBI, would release about Rs 1.2 lakh crore liquidity in the system.
The shares will then be listed on the stock exchanges.
The bank's capital adequacy ratio slipped to 7.57% against the stipulated 9% while its net loss widened to Rs 1136 crore in the September quarter owing to fresh slippages worth Rs 2000 crore.
A former bureaucrat said there was a need to lower the temperature to head off any dramatic developments.
Top manufacturers and retailers attributed the sales spike to factors including 10% cut in GST on appliances in July, ecommerce discounting, deeper penetration of consumer finance, and higher sales of premium products.
NBFCs made up 12-15% of the total credit generated in fiscal 2017.
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