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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The public sector lender appears to have—among other things—issued cards to customers who never asked for them, an internal audit reveals.
Bengaluru-based Canara Bank wants to start a credit card subsidiary. With a base of 923,000 outstanding credit cards—second only to the State Bank of India among public sector lenders—it is well placed to do so.
The launch of a separate unit to handle the credit card business would be the cherry on the cake for the bank’s CEO and managing director, Lingam Venkat Prabhakar, whose term ends in December. After all, it was under him that Canara Bank, in April 2020, took on the operations of Syndicate Bank—making it the fourth largest public sector bank in the country.
While the …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The newly listed insurer commands a premium valuation, but its latest ambition, if not done right, may prove to be a drag.
