Author John le Carré thrived on espionage, in every sense of the word. MUMBAI : The Reserve Bank of India (RBI) has not cleared a proposal by Muthoot Finance Ltd to buy IDBI Asset Management Ltd and IDBI MF Trustee … Watch the full interview with George Alexander Muthoot, MD, Muthoot Finance on The Market here. Experience cleaner site with zero ads and faster load times. The RBI said Muthoot Fincorp had been collecting deposits for Muthoot Estate Investments, a group company, via its branches, from which Muthoot Fincorp has now been barred. Despite RBI rejecting the deal, Muthoot Finance’s shares were marginally up 0.61% on the BSE on Wednesday at Rs 1145 at of 10 20am. Image Source : FILE RBI imposes penalty on Muthoot Finance, Manappuram Finance The RBI on Thursday stated it has imposed a penalty of Rs 10 lakh on Muthoot Finance, Ernakulam, for non-compliance with instructions on keeping up mortgage to worth ratio in gold loans and on acquiring a duplicate of the PAN card of the […] Amitabh Bachchan's 'nimbu mirchi' on 2021 post is exactly what's on our mind, 17 per cent of BMW bikes worldwide produced at TVS Chennai plant, Amazon Christmas sale 2020 begins: Offers on OnePlus 8T, Redmi Note 9 Pro, Opinion | Farmers’ agitation: Leftists agenda is to denigrate Modi, J&K govt ropes in filmmaker Imtiaz Ali to promote local art and culture, Coolie No 1 Song Mummy Kassam out: Varun Dhawan, Sara Ali Khan will leave you tapping your feet, Suresh Raina set to return to competitive cricket, shares photos from training session. The RBI has turned down the proposal of Muthoot Finance to acquire IDBI Bank’s mutual fund business, saying sponsoring a mutual fund is not under the activity of an operating NBFC. The Reserve Bank of India (RBI) has imposed a penalty of ₹ 10 lakh on Muthoot Finance Ltd, Ernakulam, and ₹ 5 lakh on Manappuram Finance Ltd, … (339 kb) Date : Nov 20, 2020 Reserve Bank of India imposes monetary penalty on (1) Sodexo SVC India Private Limited, (2) Muthoot Vehicle & Asset Finance Limited, (3) QwikCilver Solutions Private Limited, (4) Phonepe Private Limited, (5) Delhi Metro Rail Corporation Limited and (6) Punjab National Bank Mumbai, Nov 24 (IANS) The Reserve Bank of India (RBI) has rejected the proposed acqusition of IDBI Mutual Fund by Muthoot Finance. Muthoot Finance Ltd, the largest gold financing company in India in terms of loan portfolio, declared a net profit of Rs.171crs in the second quarter of FY15 and Rs.351crs for the half year ended FY15. Muthoot Finance Ltd. is an Indian financial corporation and the largest gold loan NBFC in the country. RBI vetoes Muthoot’s plan to buy IDBI MF - Times of Ind.. India Business News: TNN Mumbai: Kerala-headquartered NBFC major Muthoot Finance on Tuesday said that the RBI has declined permission for it.. Covid-19 has triggered a consumer shift towards branded products as ... Big Story | Behavioural biases to be wary of in a bull market. The non-bank financier said in a regulatory filing on Tuesday that the central bank has conveyed to them that “the activity of sponsoring a mutual fund or owning an … According to a regulatory filing by IDBI Bank on Tuesday, a share purchase agreement with regard to sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019. Depression rates tripled during Covid-19 pandemic: Study. Board may consider applying for banking license after RBI guidelines are out: George Alexander Muthoot George Alexander Muthoot, Managing Director, Muthoot Finance, talks about rejection of the proposal to acquire IDBI Mutual Fund, RBI’s working committee recommendations and gold loan demand among others during a candid chat with Swati Khandelwal, Zee Business Mumbai, Nov 19 (IANS): The Reserve Bank of India (RBI) on Thursday imposed penalties of Rs 10 lakh and Rs 5 lakh on Muthoot Finance and Manappuram Finance respectively for norm violations. ... for industry, '' said George Alexander Muthoot, MD, Muthoot Finance 's proposal to acquire MF. Been honoured with many prestigious awards George Alexander Muthoot, MD, Muthoot Finance has said Reserve Bank India. 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