Vijay Mallya, chairman of United Breweries Holdings Limited, approached the Delhi Court on Friday for a legal representation before a panel of State Bank of India (SBI) members, where they would argue their case against being declared as willful defaulters.
Breaking News
With Reserve Bank of India (RBI) licensing 11 companies to commence banking operations as 'Payment Banks,' Indian banking system is poised for a major revolution in the days to come.
India's Public Sector Undertaking (PSU) banks initiated a process to offload their shares in credit ratings agency CARE Ratings, according to sources knowledgeable on the situation.
The State Bank of India announced that it had expected to receive a total of INR4 billion in recapitalization from the government.
SBI chairman Pratin Chaudhuri said that the State Bank of India needed Rs3000 crore to merge with one of its associates banks.
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