HDFC plans second series of masala bonds

MUMBAI: Housing Development Finance Corp. (HDFC) has developed a taste for masala bonds. Weeks after India's largest mortgage lender sold out its first issuance of rupee-denominated debt to overseas buyers, it's planning to raise another Rs 2,000 crore through the same route, underscoring a trend that's gaining momentum. HDFC's masala bond sale last month was the first by an Indian company. The home loan

SBI board approves merger of 5 associate banks, BMB with itself

The State Bank of India’s (SBI’s) board of directors has approved merger of its five associate banks and Bharatiya Mahila Bank (BMB) with itself. These five subsidiaries are State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore and Bharatiya Mahila Bank. Key Facts The board  has finalised the share swap ratio for three of the listed subsidiaries and BMB. It also

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Steps being taken to prevent forex violations, says government

NEW DELHI: Government today said the Reserve Bank has taken various steps, including constitution of a working group to devise import data monitoring and processing system, to prevent instances of foreign exchange violations. Minister of State for Corporate Affairs Arjun Ram Meghwal today said RBI has informed that recently a case of foreign exchange violation at Bank of Baroda's Ashok Vihar branch in the

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