Finance news

Last week, PNB reported a fraud worth Rs 3,805.15 crore by the bankrupt steel company by misappropriating funds and manipulating its books of accounts.

For their part, PSBs are choosing to wait for further guidelines from the regulator before zeroing in on prospective loan pools.

Days after Punjab National Bank (PNB) announced the detection of the Rs 3,805 crore fraud by Bhushan Power & Steel Ltd (BPSL), another public sector lender Allahabad Bank has reported misappropriation of funds by the private firm.

Shubhalakshmi Finance aims nearly three-fold jump in loan disbursement  Business StandardShubhalakshmi Finance, a non-banking finance company (NBFC), aims to nearly triple its loan book size to Rs 400 crore during the current financial year.

South Africa confirms plans to block extradition of ex-Mozambique finance minister  ReutersJOHANNESBURG (Reuters) - South Africa's new justice minister confirmed on Saturday he would he ask the courts to reverse his predecessor's decision to ...

South Africa Halts Extradition of Ex-Mozambique Finance Minister  BloombergSouth Africa's new justice minister, Ronald Lamola, put the extradition of former Mozambique Finance Minister Manuel Chang back to his home country on hold ...

L&T Finance arm becomes first NBFC to get $100 million loan from AIIB  Business TodayThe Asian Infrastructure Investment Bank (AIIB), a multilateral development bank headquartered in Beijing, has provided a $100-million loan to L&T ...

Suryoday Small Finance plans upto Rs 1,000-cr IPO by mid-2020  BusinessLineSuryoday Small Finance Bank (SFB) announced its plans to raise upto Rs 1000 crore through initial public offer (IPO) by mid-2020.The company would raise ...

How Decentralized Finance is Making Investing Universally Accessible  Visual CapitalistInvesting has historically been expensive, cumbersome, and inaccessible for most people. Decentralized finance and Abra aims to change that for everyone.

Personal finance wrap: Tax filing season; Is your bank the best MF advisor?  Moneycontrol.comFind all the other major personal finance stories of the week here.