10 entities, including Ujjivan Financial Services and Equitas Holdings, on Wednesday got RBI’s approval to set up Small Finance Banks to provide basic banking services to small farmers and micro indus-tries. Other entities to get the Reserve Bank’s nod are Au Financiers (Jaipur), Capital Lo-cal Area Bank (Jalandhar), Disha Microfin (Ahmedabad), ESAF Microfinance (Chen-nai), Janalakshmi Financial (Bengaluru), RGVN (North East) Microfinance (Guwa-hati), Suryoday Micro Finance (Mumbai) and Utkarsh Micro Finance (Varanasi). The “in-principle” approval will be valid for 18 months to enable these entities comply with the guidelines on Small Finance Banks, RBI said in a statement.
United States
Citi CEO Vikram Pandit Steps Down
NEW YORK (TIP): In a surprise move, Citigroup’s Indian American chief executive Vikram Pandit stepped down Tuesday, October 16, ending his tumultuous five-year reign atop the banking giant that he had nursed to recovery through […]
Business & Economics
Vijay Mallya arrested in London by Scotland Yard
NEW DELHI: Business tycoon Vijay Mallya, the boss of the now defunct Kingfisher Airlines, owes Rs 9,081 crore to a consortium of 17 Indian banks, has been arrested in London and will be produced in […]
India
Indian-origin Healthcare Experts in Queen’s Birthday Honors spotlight
LONDON (TIP): Indian-origin healthcare experts involved in the field of Covid-19 vaccine trials and community support efforts are among those in the spotlight at the Queen’s Birthday Honors List. The Queen’s Birthday Honors List, unveiled […]
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