India with $474 bln in external debt as of 2015 has experienced the 2nd largest rise since 2010. Its external debt to GDP ratio has risen to 23% from 17% in 2005.
The bank said it s committed to pass on the benefit of lower cost of resources to its customers at the bottom of the pyramid.
ON Singh is slated to become the non-executive chairman of the company as per its new management policy.
The loan was sanctioned to Kingfisher for purchasing aircraft but part of the order was subsequently cancelled when Kingfisher was grounded in 2012.
The case is pending at Chennai DRAT for more than two years and senior bank officials said that no hearing took place at the successive scheduled dates.
Company president Dilli Raj said it is operating at 9.6 per cent margin, lower than the permissible 10 per cent limit stipulated by the Reserve Bank of India.
Bharat Financial Inclusion Ltd, earlier known as SKS Microfinance, said it might not lower rates in the next two-three quarters, to protect margin and profitability.
Reliance Nippon Life Insurance plans to hire 30,000 agents this fiscal, to add to a force of 68,000 active field agents, a senior official said Thursday.
IFMR Capital has arranged three deals worth Rs 872 crore while Bharat Financial Inclusion sold Rs 220 crore of priority sector loans to a large private sector bank.
IFMR Capital has arranged three deals worth Rs 872 cr while Bharat Financial Inclusion sold Rs 220 cr of priority sector loans to a large private bank.
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