RBI found a range of compliance violations by banks from misclassifying fraud cases, failure to report fraud cases, breaching recovery agent guidelines, neglecting due diligence on project viability, and exceeding intra-group exposure limits.
LTIMindtree, the sixth-largest IT services firm, reported a sequential rise of less than 1% in its net profit to Rs 1,162 crore for the second quarter, mainly due to a muted revenue growth and the impact of wage hikes carried out during the quarter. "Although we anticipate above-average furloughs in Q3, we are confident that our robust order inflow and a healthy deal pipeline will help us deliver a stronger H2FY24, setting a promising stage for FY25," said Debashis Chatterjee, CEO and MD, in conversation with Business Today TV's Sakshi Batra.
Retail loan demand has boomed after Covid-19, thanks to fintech firms that can serve consumers remotely. Banks and NBFCs haven't been far behind in the digital shift. However, the surge in unsecured loans poses the risk of over-leveraging, and pressure is mounting.
PVR INOX saw its highest-ever box office collection of Rs 1,335.8 crore during July-September, up 106% compared to Rs 648 crore collection in the year-ago quarter.
Royal Ranthambore BT Golf is back. Join Royal Ranthambore BT Golf across 7 of the finest Golf courses in India. Over the years, Business Today Golf has witnessed the cream of corporate India grace some of the country's best courses as India's longest-running such event. It now returns in a bigger and better avatar with the first leg in Delhi.
Adani Ports saw FPIs selling 6.83 crore shares or 3.16 stake in the company in the September quarter. At the end of the quarter, FPIs held 13.82 per cent stake in Adani Ports against 16.98 per cent at the end of June quarter.
MMTC share price: The stock dived 10 per cent to settle at a lower price band of Rs 70.55 over its previous close of Rs 78.38. It has tanked 18.98 in just two sessions. Despite the said fall, the counter has given multibagger returns in the last six months and rallied 141.94 per cent.
During Google's annual Google for India event in New Delhi, the company said it will offer sachet loans for merchants and consumers in India, which can be availed on the Gpay app.
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