The financial sector witnessed tax demands, executive changes, and credit rating updates.
Key Highlights
- Indian Overseas Bank: Received a ₹699.5 crore GST demand, which the bank intends to challenge (Negative).
- Yes Bank: Approved the appointment of Manish Jain as Executive Director for a three-year term (Neutral).
- Equitas Small Finance Bank: Received an Ind A1+ rating for commercial papers worth ₹250 crore (Neutral).
- Ujjivan Small Finance Bank: Completed the sale of a stressed loan portfolio worth ₹364.51 crore to an ARC for ₹34.26 crore (Neutral).
- Prince Pipes: Received a GST demand order of ₹14.46 crore from the Central GST Commissionerate, Dehradun (Neutral).
Regulatory challenges persist for Indian Overseas Bank, while Yes Bank and Equitas SFB reported neutral developments.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Please consult with a financial expert before making any investment decisions.
