Aashiyaan, which has sought National Housing Bank's permission to do business in affordable housing segment, has also received funding from individual investors.
The bank’s board is against extending a fresh term to current incumbent Sreeram, who is said to be not on the best of terms with the other board members.
Forex reserve has plunged by over $8 billion in the last four weeks on falling rupee.
People in the know said that Inditrade is exiting equity broking, which was its bread and butter initially, as the company now plans to focus solely on lending to small and unbanked customers.
The group plans to grow aggressively to raise stakes among the micro and small borrowers. The capital will be raised in a combination of equity and debt.
On Monday, the Central Bureau of Investigation named the bank's CEO Usha Ananthasubramanian in the Rs 13,700-crore Punjab National Bank -Nirav Modi fraud.
The PNB board has Monday divested its two executive directors, KV Brahmaji Rao and Sanjiv Sharan, of all financial and executive powers.
The flow of bank loans to the gems and jewellery sector saw a surprising 5.7% rise between mid-January and March.
Sompo would buy the stake from Karnataka Bank, which holds 14.26% in the joint venture, Universal Sompo chairman O N Singh said.
Income during the March quarter also declined to Rs 3,424.65 crore from Rs 3,906.74 crore, the bank said in a regulatory filing.
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