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"Third-party products and services, including those of promoter groups or bank group entities, shall not be displayed on banks' digital banking channels except as specifically permitted by the Reserve Bank from time to time," the RBI stated in its draft Digital Banking Channels Authorisation Directions, which is open for public feedback until August 11. The RBI has also stated that banks should not make it mandatory for the customer to opt for any digital banking channel to avail any other facility like debit cards.
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News and Media
Milky Mist Dairy Food has filed for a 2,035 crore IPO, including a 1,785 crore fresh issue. Funds will be used for debt repayment, capacity expansion, and distribution network enhancement. The company focuses exclusively on value-added dairy products.
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News and Media
State Bank of India (SBI) on Monday said it has raised Rs 25,000 crore through Qualified Institutional Placement (QIP) to fund business growth.
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News and Media
LIC increased its stake in SBI from 9.21% to 9.49% through participation in SBIs record Rs 25,000 crore QIP. The offering saw overwhelming interest, receiving bids worth Rs 1.10 lakh crore from 120 institutional investors globally.
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News and Media
Rajesh Bhosale of Angel One suggests a bullish outlook on ICICI and HDFC Bank, anticipating ICICI Bank to lead the momentum. Nifty and Bank Nifty have bounced back from their 50 EMA, with Nifty expected to trade between 24,900 and 25,250. However, Reliance Industries is showing weakness, potentially retesting levels of 1400, advising investors to wait before buying.
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News and Media
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