1 / 7Punjab National Bank | In a strategic move to bolster its financial strength, the state-run bank on Thursday announced its approval for raising equity capital of up to ₹7,500 crore during the fiscal year 2024-25. The decision was made during the Board of Directors meeting held recently.
2 / 7ICICI Bank | Private sector lender on Thursday said it has received a notice from the Tamil Nadu Goods and Services Tax (GST) Department raising a demand of ₹24.37 crore with a penalty of ₹2.43 crore, according to a stock exchange filing. The order stems from an assessment of tax payment under Section 73 of the Tamil Nadu Goods and Services Tax Act, 2017.
3 / 7Kotak Mahindra Bank | The lender on Thursday said it has received a show cause cum demand order from the assistant commissioner of central goods and service tax (GST) and excise, stationed at Cuttack. The orders levied a cumulative amount of ₹57.20 lakh towards central goods and services tax (CGST), accompanied by applicable interest and a penalty of ₹5.1 lakh.
4 / 7ICICI AMC | The Reserve Bank of India (RBI) on Thursday approved ICICI Prudential Asset Management Company Ltd (ICICI AMC) for the acquisition of up to 9.95% of the paid-up share capital of the Federal Bank Ltd. The formal intimation from RBI, received by the Federal Bank on December 28, 2023, outlines the regulatory nod for ICICI AMC's strategic move.
5 / 7Tata Coffee | Tata Group company on Thursday said it will merge with Tata Consumer Products Ltd (TCPL) and TCPL Beverages & Foods Ltd (TBFL) on Monday (January 1). Following the merger, Tata Coffee Ltd will dissolve without winding up from January 1, 2024, onwards. Further, in another filing, Tata Coffee said it has set January 15, 2024 as the record date.
6 / 7Bank of Baroda | State-owned bank on Thursday announced an upward revision in the interest rates on Domestic Retail Term Deposits, including NRO Term Deposits, from 10 basis points to up to 125 basis points on various maturity buckets with effect from December 29, 2023. These rates are applicable on deposits below ₹2 crore.
7 / 7Tata Steel | The compnay on Thursday said the Uttar Pradesh State Pollution Control Board has imposed an environmental damage compensation of Rs 6.75 lakh on the company in respect of the Sahibabad Plant at Plot no, 23, site IV. The company has paid the environmental damage compensation on December 27, 2023, to the relevant authorities.
