The shareholders and creditors of Airtel had earlier approved the demerger proposal. As part of the scheme of arrangement, Airtel shall transfer its OFC business for a lump sum cash consideration of Rs 4,564.70 crore.
It is strongly expected that the demand environment will gradually improve over the next three quarters, aided by recovery in demand from the construction sector, following release of payments to contractors after elections.
These riders are nothing but additional covers such as term rider, accidental death and disability rider, waiver of premium rider, critical illness rider, etc., offering benefits beyond the conventional insurance policy.
The action, however, is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers, the RBI added.
ED initiated investigation on the basis of an FIR registered by the Central Bureau of Investigation’s (CBI’s) bank security and frauds cell for defrauding Oriental Bank of Commerce on the pretext of financing sugarcane fa