The HC had, while issuing notice to the government and various lenders including RBL Bank and Yes Bank, refused to stay the DRT order and posted the matter for hearing on October 18.

Reserve Bank of India Governor Shaktikanta Das has warned against the "excessive dominance" of one or two board members in big commercial banks. RBI Guv Das stated that board discussions should be free and fair, with all directors given a chance to speak and no single director's opinion being final.

Sharma will work with key stakeholders to develop a roadmap to achieve the bank’s financial objectives, according to the bank

Liquidity in the banking system in India has reached its lowest level in nearly six months, causing borrowing costs to rise. Outflows from corporate advance taxes and the Reserve Bank of India's efforts to stabilise the rupee have drained lenders of funds. The RBI has injected funds into the banking system to address the tight liquidity conditions. The rupee has been weakening against the US dollar due to higher crude oil prices, and the RBI has intervened in the currency market through dollar sales. The liquidity situation is expected to improve by the end of the week.

A bench led by Chief Justice DY Chandrachud admitted the governments appeal and tagged it along with similar appeals filed by RBI and Yes Bank, It also posted the matter for further hearing on October 16. The apex court had in March extended the stay granted by the HC on January 20.

The partnership boasts of serving as an efficient platform for Indian exporters to navigate the complexities of international trade and bolster their global competitiveness.

In a rare development, Bank of Maharashtra is expecting full recovery of dues from the sale of the loans to a hotel, owned by the Jatia Group. It has set a reserve price of Rs 330 crore against Rs 324 crore dues, the bank said in a note to the asset reconstruction companies last week. Reeling under Covid 19, in December 2020, the company entered a one-time restructuring (OTR) with lenders.

The Reserve Bank of India's decision to discontinue the Incremental Cash Reserve Ratio (ICRR) in a phased manner is seen as a prudent move by experts. The ICRR withdrawal had caused a liquidity shortage in the banking system, but the RBI plans to gradually infuse the withdrawn liquidity back into the system. This phased approach is aimed at managing liquidity during the festive season and avoiding any immediate impact on short-term rates. Overall, the move demonstrates the RBI's focus on using market mechanisms to manage liquidity surpluses.

Cipla South Africa, a wholly-owned subsidiary of Cipla, signed a binding term sheet with Actor Holdings (Pty) to acquire Actor Pharma (Pty) Ltd.

BSE gained for sixth consecutive session and jumped 5.5 percent to end at record closing high of Rs 1,188, forming long bullish candlestick pattern on the daily timeframe

Dish TV's promoter had sought to restrain the lender from exercising its voting rights, interfering in or seeking to participate in the management and affairs of the company, or claiming rights to the shares. "In the present case, the use of the pledged goods will include the exercise of voting rights since the pledged goods are shares," observed Justice RI Chagla while disposing of an application filed by Dish TV promoters.

Two special-purpose vehicles floated by promoter Mayur Suchak's Renaissance Group are undergoing insolvency.

The companies crossing their 200-Day SMAs on September 1, 2023, signal positive market sentiment and a bright outlook for their respective industries.

Kotak, the 64-year-old founder-promoter of Kotak Mahindra Bank, is the richest banker in the country by virtue of owning 26 per cent of the bank which was valued at over Rs 3.5 lakh crore as of Friday's close. The private sector lender he founded is the only one sporting the family name, and till Friday, had a family member at the helm as the managing director and chief executive officer in an industry where professional managers have the strongest currency.

YES Bank has announced that it has launched Unified Payments Interface (UPI) Interoperability on the Reserve Bank of India's Central Bank Digital Currency (CBDC) app. This will allow users to scan any UPI QR code through the YES Bank Digital Rupee app and make transactions seamlessly. This move aims to expand the reach of the Digital Rupee and highlights the bank's commitment to digital innovations.

Seven police personnel have been suspended for providing special treatment to DHFL promoters Kapil and Dheeraj Wadhawan during medical check-ups in Mumbai. The Wadhawan brothers, who are in judicial custody for a bank loan scam, were shown enjoying privileges in government hospitals while in custody.

The Future Group companies on Tuesday moved the Delhi High Court against a debt recovery tribunal's July 31 order that restrained them from alienating their assets in recovery proceedings initiated by lenders. A bench led by Chief Justice Satish Chandra Sharma, while seeking response from the government, Future Group founder Kishore Biyani, Rattan India Finance, RBL Bank, Yes Bank and others refused to stay the DRT order. The matter will be next heard on October 18.

These provisions are ultra vires the Act as they operate to obstruct/delay the recovery of loans by banks and other financial institutions and also “confer drastic and extraordinary powers” upon the tribunal to pass interim exparte order without prima facie satisfying that the conditions required for such restraint orders are met, the petition filed through counsel Pallavi Pratap stated.

The company has received the notices, imposing fines on August 21, 2023, said Dish TV in a regulatory filing on Tuesday adding "it will be making the payment of the fines and shall also be submitting waiver applications with the Stock Exchanges".

The non-compliance in respect to the reduction in the board strength was primarily on account of non-approval of shareholders for the appointment of directors, which was beyond the control of the board or the company, the Direct-to-Home operator added

In one of the largest front-office transactions so far this year, HDFC Bank picked up about 1 lakh sq ft office space spread across two towers of Blackstone Group backed Nucleus Office Parks' commercial complex One International Center in Mumbai's business district Lower Parel through a long-term lease of five years, said persons with direct knowledge of the development.

U GRO Capitals Vice Chairman and Managing Director, Shachindra Nath, has announced that the firm is targeting over INR 25,000 crore ($3.42bn) in the next three to four years, with an immediate goal to reach INR 18,000 crore by 2025. Nath stated that U GRO Capital is on track to meet these goals, with Q3 profits marking the third consecutive quarter of strong performance.

This account helps an NRI to manage their income earned in India. Additionally, moving money between your current NRE and NRO accounts is very simple.

A recurring deposit account allows you to invest a specific amount each month until the end of the tenure, unlike a typical fixed deposit, which requires a single sum investment at one time.

Private banks in India are facing a high rate of attrition, particularly amongst younger entry-level employees due to high demand for loans. Last year, HDFC Bank's turnover rate rose to 34%, Axis Bank was at 35% and Kotak Mahindra Bank recorded a surge in at approximately 50% whilst Yes Bank's attrition hit 43%. The attrition rate is caused by increasing pressure on frontline staff to fulfil the demand for loans.

The case relates to mis-selling of the bank's AT1 (Additional Tier-1) bonds to retail investors by the bank's officials. It was alleged that the bank and certain officials did not inform investors of the risk involved while selling the AT-1 bonds in the secondary market. The sale of AT1 bonds started in 2016 and continued till 2019

A special PMLA court here denied bail to Pune-based businessman Avinash Bhosle in a money laundering case, citing that prima facie it is clear that he had fraudulently obtained more than Rs 71 crore from DHFL "without any genuine business transaction". Denying bail on medical grounds, the court said Bhosle has been receiving quite good treatment in the hospital as per his wish and according to doctors, he is not suffering from any life threatening disease.

​​Its net interest income was up 7.8% from a year ago and stood at Rs 1,999.6 crore.

YES Bank is set to release softer numbers for the first quarter ended June, with weakened underlying business growth. Analysts predict mid single-digit YoY growth in the lender's net interest income, but decline sequentially given weak loan expansion. Kotak Institutional Equities estimates a 6% rise

The Nifty Auto index was trading 0.31 per cent down at 15465.0.

The Nifty IT index closed 1.06 per cent up at 31371.15.

Dheeraj Wadhawan, one of the promoters of DHFL currently in jail in a case pertaining to alleged fraud connected to Yes Bank, was denied medical bail by a special court which observed he had not paid Rs 24 lakh for police escort provided to him during his long hospitalisation. In his order of July 14, the details of which were made available on Monday, the special CBI judge MG Deshpande noted that the police had to knock the doors of the court to recover this amount.

Going ahead, stock specific action will continue with first quarter earnings underway. All eyes will be on HDFC Bank, which will report its results today, a first after the merger. Banking stocks will be in focus as major private lenders including ICICI Bank, YES Bank, Kotak Bank will announce their earnings later in the week.

Going ahead, stock specific action will continue with first quarter earnings underway. All eyes will be on HDFC Bank, which will report its results today, a first after the merger. Banking stocks will be in focus as major private lenders including ICICI Bank, YES Bank, Kotak Bank will announce their earnings later in the week.

Dheeraj Wadhawan, the former promoter of Dewan Housing Finance Corporation Limited (DHFL), has been denied interim bail in the Yes Bank-DHFL scam. However, the Mumbai sessions court has granted his request to receive medical treatment at a private hospital. Wadhawan and his brother Kapil are accused in the alleged fraud of over Rs. 4,000 crore caused to Yes Bank, with cofounder Rana Kapoor also a co-accused.

Dheeraj Wadhawan, founder of Dewan Housing Finance Ltd (DHFL), has been denied medical bail by a special CBI court in relation to a fraud case at Yes Bank. While the court has allowed him to receive treatment at a private hospital for his heart-related condition, he has been asked not to prolong his stay and must bear the cost of prison staff accompanying him.

The Nifty Auto index closed 0.61 per cent down at 15519.7.

The Nifty IT index closed 1.75 per cent up at 29628.2.

The Nifty Realty index was trading 1.56 per cent up at 536.45.

The Nifty IT index was trading 0.47 per cent down at 29185.85.

The Nifty IT index closed 0.45 per cent up at 29324.8.

The Nifty Auto index closed 1.39 per cent up at 15617.45.

Dismissing an appeal, the Securities Appellate Tribunal on Monday refused to grant an interim stay on market regulator SEBI's order against Zee Entertainment's Subhash Chandra and Puneet Goenka.

Adani Capital's management - led by former Lehman Brothers and Macquarie investment banker Gaurav Gupta, who joined the conglomerate in 2016 - owns around 10% of the company. Promoters own nearly 90%, which is up for grabs.

Rare ARC has offered an upfront payment of ₹68 crore for a total loan of ₹110.4 crore, equating to a recovery of 62% for the private lender. The binding offer by Rare ARC has triggered a Swiss challenge auction. Coffee Day Global is a subsidiary of listed Coffee Day Enterprises, promoted by the late VG Siddhartha, who committed suicide in 2019 that shocked many in the business community.

The Securities Appellate Tribunal (SAT) is likely to deliver its order on Essel Group Chairman Subhash Chandra and ZEEL Managing Director and CEO Punit Goenka's petitions challenging Sebi's interim order on Monday, July 10, reported ET NOW. On June 12, the Securities and Exchange Board of India's (Sebi) in an ex-parte interim order restrained Chandra and Zee Entertainment Enterprises Ltd's (ZEEL) Goenka from holding any directorship or key managerial positions in listed entities on account of alleged fund diversion.

"About 25% of our book is retail loans within which there is now a potentially growing book for micro finance loans. In the last three quarters we have acquired about ₹470 crore of micro finance loans where the recovery has been even better than our projections. We expect this pace to continue," Manhas said.

The Nifty IT index closed 0.12 per cent down at 29805.2.

The Nifty Auto index closed 1.12 per cent up at 15453.7.

Sun Pharma Advanced Research Company, Aegis Logistics, and Godfrey Phillips India were among the top performers on July 5, 2023, as their stock prices surpassed the 200-day Simple Moving Average (SMA) mark. Sun Pharma Advanced Research, a pharmaceutical research company, closed at Rs 218.65; Aegis Logistics at Rs 353.05; and Godfrey Phillips.

The Nifty IT index was trading 0.14 per cent down at 29800.05.

“One has to see how Eicher reacts, whether it cuts down prices and tries to compete with them. That is what the market is worried about. Obviously, the volumes are going to get impacted. That is the way the market is cutting at the moment.”

HDFC Bank's total deposits increased 19% to ₹19.13 lakh crore but the bank's CASA deposit growth was much slower at 11%. More importantly, the bank's CASA ratio has fallen to 42.5% in June 2023 from 44.4% in March 2023. Similarly, IndusInd Bank's loan book increased 21% to ₹3.01 lakh crore in June 2023 from ₹2.47 lakh crore a year ago.

The Nifty Pharma index closed 0.71 per cent up at 13772.0.

Yes Bank said its loans and advances stood at Rs 2,00,308 crore for the quarter ended June 30, 2023. Meanwhile, the deposits grew by 13.5% YoY to Rs 2,19,369 crore in the June quarter from Rs 193,241 crore in the same period last year

According to officials, the probe stems from revelations made by International Consortium of Investigative Journalists's Pandora Papers case, which involves disclosure of offshore investments and assets. Ambani's alleged links to some offshore companies based in Jersey, British Virgin Islands and Cyprus are under ED scanner

Tina Ambani, wife of Reliance ADA Group Chairman Anil Ambani, appeared before the Enforcement Directorate (ED) in Mumbai for questioning regarding an investigation related to alleged foreign exchange law violations. Anil Ambani had previously recorded his statement in connection with the case and is expected to appear before the agency again. The investigation focuses on undisclosed assets held abroad and the movement of funds.

The Nifty Pharma index was trading 0.02 per cent down at 13610.9.

Reliance ADA Group Chairman Anil Ambani deposed at the office of the federal agency in the Ballard Estate area to record his statement in the case, registered under various sections of the Foreign Exchange Management Act (FEMA), official sources said.

The Nifty IT index closed 0.47 per cent down at 29424.8.

The Nifty IT index was trading 0.33 per cent down at 29466.15.

The subject for the meeting is 'Cyber security and rising incidence of cyber/white collar crimes.'

The Nifty Pharma index closed 1.06 per cent up at 13767.5.

The Nifty IT index closed 0.15 per cent up at 28843.0.

In his arguments, senior advocate Janak Dwarkadas, representing Goenka, said that by removing two key people from the company, Sebi has infringed upon their fundamental rights to be employed. He argued that while Sebi had issued the interim order against them, no direction had been issued against Yes Bank for appropriating the Rs 200 crore fixed deposit without ZEEL's approval.

"The bank was cheated by wisely hatching criminal conspiracy by accused persons. Money of Yes Bank is the wealth of the Nation. Nation is victim of this offence of cheating and criminal conspiracy," the court said, declining to give relief to Bhosale. The special judge said that the way the fraud was committed, granting bail to the applicant (Bhosale) is not safe and there is every possibility of "spoiling" the case by tampering with the evidence and hampering the trial.

Around 212 stocks of companies with a minimum market capitalisation of Rs 500 crore have eroded investors wealth considerably in the first half of 2023, as per data analysed by ETMarkets. Most of the laggards were midcaps and smallcaps, though the broader markets have outperformed the largecaps in recent months. Adani Group companies dominated the list, with Adani Total Gas falling more than 82% YTD. Infosys was the worst performing stock in the frontline IT pack, and Hindalco Industries was among the severely affected largecap metal companies due to a demand slowdown.

The Nifty IT index closed 0.13 per cent up at 28590.1.

The Nifty IT index was trading 0.15 per cent down at 28512.4.

Moody's expects that Yes Bank's financial performance will remain stable over the next 12-18 months.

Moody's Investors Service on Friday said it has affirmed Yes Bank's ratings on the back of expectation that its financial performance will remain stable over the next 12-18 months. The long-term foreign and local currency bank deposit ratings and foreign currency issuer rating has been affirmed at 'Ba3', with a stable outlook.

Several Nifty 500 stocks including UCO Bank, Uflex, V-Mart Retail, YES Bank, and Zee Entertainment Enterprises (ZEEL) are trading at a significant discount from their 52-week highs, with potential investment opportunities based on placement on the technical charts and current momentum. Despite discounts, the companies include strong players such as accomplished retail chain V-Mart Retail, banking institutions YES Bank and UCO Bank, and leading media and entertainment company ZEE. Before investing, careful analysis and consideration of individual investment goals are recommended.