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The bank recorded a net profit of Rs 567 crore for the year ended 31 March 2024, showing a 4 per cent increase from the previous year's net profit of Rs 547 crore
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The company attributed this impressive performance to its diverse product portfolio, extensive distribution network, brand recognition and effective cost optimisation strategies
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However, the Department of Tourism Bhutan announced the revocation of this requirement, effective immediately, in a statement dated 23 April 2024
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Introduced in November 2022, this filing route grants a longer validity period of 18 months from SEBI's observations on the confidential draft prospectus
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While the move was anticipated, it comes after Tokyo reported lower-than-expected inflation in April, with the core inflation rate at 1.6 per cent compared to Reuters' projection of 2.2 per cent
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Payments within these limits won't incur extra fees, but amounts exceeding them will be subject to a 1 per cent fee plus 18 per cent GST
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The RBI invoked its authority under Section 35A of the Banking Regulation Act, 1949
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The company has achieved this feat by doubling its AUM from Rs 50,000 crore in August 2021 to Rs 1,00,000 crore in less than three years
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