Vadodara-based Sterling Biotech group is owned by brothers Nitin Sandesara and Chetan Sandesara
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State-owned lender Bank of Baroda will be the first to take Future to the Debt Recovery Tribunal and is expected to file the paperwork this week, the two bankers say
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Last month, the RBI's monetary policy committee maintained its accommodative stance and kept the key lending rate at record lows to help the economy recover from the pits of the pandemic even as inflation has inched up
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The figures are for the last three financial years and up to December 2021 of the current fiscal
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The Cabinet Committee on Economic Affairs had in May last year given in-principle approval for strategic disinvestment and transfer of management control in IDBI Bank
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Minister of State for Finance Bhagwat Karad said Rs 55,895 crore have been recovered in the past six financial years and the current financial year up to December 31, 2021
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The highest amount of net loss was registered in 2017-18 at Rs 85,370 crore, followed by Rs 66,636 crore in 2018-19; Rs 25,941 crore in 2019-20
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On recovery of fraud amounts, the minister said Rs 55,895 crore have been recovered in the past six financial years and the current financial year up to December 31, 2021, he said
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During April-December 2021-22, the number of frauds at Kotak reached 642, Minister of State for Finance Bhagwat Karad said citing data from RBI
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Necessary amendments to the IDBI Bank Act have already been made through the Finance Act 2021, and transaction advisors have been appointed
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