May 31, 2021By: Rounak Jain
The bank has been found violating rules yet again. The RBI has imposed a penalty of ₹10 crore after an investigation into a whistleblower complaint revealed irregularities in the bank’s auto loan segment.
The aviation sector has been added in the scope of the ₹3 lakh crore Emergency Credit Line Guarantee Scheme which should boost the liquidity of airline companies. Minimum fares in the domestic sector have also been hiked by up to 15 percent.
It has an outlay of ₹12,000 crore over the next three years, aimed at launching new products in its commercial and passenger vehicle segments, including investment in electric vehicles.
Aurobindo Pharma, Honeywell Automation, Chemcon Specialty Chemicals, Jamna Auto Industries, Kolte Patil Developers, Magma Fincorp, Vascon Engineers.
It posted a net loss of ₹1,047 crore in the March 2021 quarter against a profit of ₹507 crore a year ago. Net interest income increased by 4.5 percent to ₹7,107 crore, year-on-year.
It will raise up to ₹5,000 crore by issuing debt securities.
It reported a 6 percent rise in its net profit in the March 2021 quarter to ₹234 crore, while revenue increased by 3 percent to ₹2,860 crore, year-on-year.
It has received approval from the USFDA for its Fluphenazine Hydrochloride tablet which is used in certain mental illnesses.
It reported a net profit of ₹62 crore in the March 2021 quarter against a loss of ₹41 crore a year ago. Revenue surged by over 12 percent to ₹1,252 crore, year-on-year.
It has raised ₹4,800 crore capital by issuing 280 crore shares to the Indian government.