Banks lost Rs 2.85 lakh cr due to loan default of 13 firms; UFBU calls for bank strike on December 16, 17
According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 4,86,800 crore and it was resolved at Rs 1,61,820 crore resulting in a loss of Rs 2,84,980 crore.
Shriram Group likely to announce merger of two lending subsidiaries under Shriram CapitalShriram City Union Finance, the consumer finance arm of the group will be merged with Shriram Transport Finance, the larger commercial vehicle finance company of the group. The creation of a single lending entity is the second step for the group after it announced the creation of a management board to oversee the group's functioning late last month.
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