To prevent such incidents in future, the bank has set up necessary corrective actions to strengthen its internal control mechanisms.
At around 9:20 AM, IDBI Bank was trading apiece down from its previous closing of Rs47.50 on the BSE.
The B K Goenka-led Welspun Corp has started seeking buyers for the land it got as part of the ABG Shipyard deal, people aware of the development told Moneycontrol. Welspun acquired the ABG Shipyard in 2022 through a liquidation process under the Insolvency and Bankruptcy Code. The shipyard located at Dahej, Gujarat, is spread over 165 acres and has a 1,000-metre waterfront.
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Indian banks’ plan to increase their technology spending to around 10% of their operating expenses to keep up with the surge in digital transactions as the central bank intensifies scrutiny on frequent outages, more than half a dozen bankers said. Banks were earlier spending between 6%-8% of total operating expenditure on technology, sharply below the global average of 10%-12%.
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Hero MotoCorp shares continued to gain on Wednesday after the company posted its earnings for the quarter ended March. What Happened: The company’s revenue from operations for the quarter stood at ₹9,519 crore, up 15% from the ₹8,307 crore posted in the same quarter last year. The auto major’s net profit for the quarter was at ₹1,016 crore, reflecting a growth of 18%.
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