As per RBI guidelines promoter group shareholding shall be 15% of paid-up capital.
PSBs have allegedly lost lakhs due to round-tripping by business correspondents of private banks.
About 1.5 crore of 42 crore SBI customers are using Yono now while the banking behemoth expects the number to multiply with the partnership with Jio.
Its profit before tax for the first quarter was Rs 245 crore against a loss of Rs 37 crore in the corresponding period in 2017.
The market is unsure about the likely impact of the transition on earnings of non-banking finance companies.
Aegon said that the company would continue its focus on selling protection or term policies, while pushing direct business and digital products.
The bank has invested in Carousell, an online payment app in Singapore.
It is not looking for any immediate acquisition of fintech companies in India like what it did in a few Asian markets, bank chief executive Piyush Gupta said
Monexo had a year and half ago announced a plan to raise $10 million. The company has now scaled down that by half.
The deal is expected to be partly in share-swap, and partly in cash for the micro lender backed by private equity firm Elevar Equity Mauritius.
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