HDFC Bank had opened multiple demand accounts which were used for manipulation of the IPO allotment process in the last few years, but those were not held in benami names.
Industrial Development Bank of India Ltd on Monday said it will enter into a memorandum of understanding with Netherlands-based Fortis Insurance International NV for setting up a joint venture company. \n
Industrial Development Bank of India and Life Insurance Corporation of India have forged an alliance to fund about Rs 35,000 crore (Rs 350 billion) worth of long gestation projects, including infrastructure.
The World Bank has approved a $120 million loan to support the development of India's small and medium enterprises sector.
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
Interest rates are seen remaining stable in the short term. Chairmen of State Bank of India, the country's largest bank, and Industrial Development Bank of India said they saw no pressure to raise interest rates for now.
Industrial Development Bank of India will hire about 1,000 finance professionals over the next few months to meet business expansion needs and also bridge the skills and experience gaps resulting from attrition.
Industrial Development Bank of India is looking to expand its presence overseas, including through opening branches in Singapore and Bahrain, a top bank official said.
The finance ministry is believed to have finalised the merger of Kolkata-based Industrial Investment Bank of India with Industrial Development Bank of India
The employees associations of Industrial Finance Corporation of India have requested the government to merge it with a strong bank or financial institution.
The Industrial Development Bank of India-led consortium will meet the foreign lenders in London on Wednesday for taking over their outstanding dues in the troubled Dabhol Power project.
Industrial Development Bank of India has posted a net profit of Rs 621.30 million (Rs 62.1 crore) for the quarter ended December 31, 2004 whereas the same was Rs 465.50 million (Rs 46.5 crore) for the quarter ended December 31, 2003.
Parliament on Monday approved the Industrial Development Bank of India Repeal Bill to enable its conversion into a universal bank
Chairman of Industrial Development Bank of India, V P Shetty, was on Friday arrested for allegedly making casteist remarks against IDBI General Manager B W Ramteke.
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