MUMBAI: Reserve Bank of India‘s (RBI) decision to introduce exclusive domains for banks will make it easier to identify genuine banking websites and avoid phishing scams. Customers can verify a bank’s authenticity by checking if its website has the ‘bank.in’ extension before making transactions.RBI governor Sanjay Malhotra said rising fraud in digital payments is a…
Ashok Piramal Group‘s Morarjee Textiles has received three bids to take over the company in a court monitored bankruptcy process, people familiar with the details said. Morarjee owes creditors, led by Indian Bank, Rs 760 crore. Last month, resolution professional Ravi Sethia received bids from Mumbai-based realtor Dev Land and Housing, Nagpur-based Nirmal Ujjwal Credit…
Mumbai: Ashok Piramal Group‘s Morarjee Textiles has received three bids to take over the company in a court monitored bankruptcy process, people familiar with the details said. Morarjee owes creditors, led by Indian Bank, ₹760 crore. Last month, resolution professional Ravi Sethia received bids from Mumbai-based realtor Dev Land and Housing, Nagpur-based Nirmal Ujjwal Credit…
State Bank of India (SBI) Chairman CS Setty has warned of growing cybersecurity challenges and the need for improved digital literacy in the banking sector. While investments in cybersecurity are on the rise, the availability of professional support for these activities remains limited, posing a significant hurdle for banks as they roll out digital systems.Speaking…
Mumbai: PC Jeweller has reached a one-time settlement (OTS) with a consortium of lenders led by State Bank of India (SBI) to settle its debt by offering banks a mix of cash and equity in the Delhi-based company. The ₹2,250-crore offer represents about a 20% haircut to lenders’ principal amount, estimated at ₹2,900 crore, and…
