03:59 PM 11 Mar
03:59 PM 11 Mar
The acquisition is subject to the receipt of requisite approvals from governmental and regulatory authorities, consent from all lenders, release of all encumbrances on the said assets and other conditions precedent.In a separate filing, Reliance Communications also said the validity of the agreements signed in December last year has been extended.The deal involves Reliance Communications selling its telecom towers, spectrum, optic fibre network and media convergence nodes to Reliance Jio.
India 's second biggest software services exporter, whose Finacle software powers the core functions of the majority of Indian lenders, is in talks to sign up more domestic and foreign banks to the network, senior company executives told Reuters on Wednesday. Blockchain technology allows all stages of transactions to be securely shared between network members, as opposed to each bank working independently which is more expensive and increases the chance of error.
Facebook owned messaging company WhatsApp has recently launched peer to peer digital payments beta service in India. The entry of the messaging app, which has more than 200 million monthly active users, is expected to disrupt the unified payments interface (UPI) based digital payments landscape in India, currently dominated by Paytm, says leading data and analytics company GlobalData.Reportedly, Facebook is working with top lenders, including State Bank of India, ICICI Bank, Axis Bank and HDFC Bank, to integrate the UPI based payments solution.
”We wish to inform you that the company has filed an appeal before the Bombay High Court to protect the interests of secured lenders, ” Reliance Communications (RCom) said in a BSE filing.An arbitration tribunal in an interim order has restrained the debt ridden company from sale, transfer or mortgaging of assets.
According to The Economic Times, the JSW Group has emerged as the highest bidder for the company with an offer of Rs 9,914 crore. According to sources cited by the daily, there were five others in the race, including the Adani group, Jieyang Zhonguci, a real estate firm from China and Deutsche Bank. "JSW has given the best offer to lenders," said a source, adding that the evaluation process on the eligibility criteria is still on. Another official explained that "even as JSW is offering to pay the entire dues of the lenders, there will still be an element of haircut since lenders will have to enter into settlements with other claimants like home buyers and farmers and account for regulatory penalties". This could reportedly amount to around Rs 1,500 2000 crore.
The MoneyTaker group broke into 20 systems, which includes 15 U.S. lenders, targeting ATMs with "mules " and Russia's interbank money transfer system, Group IB said in a report provided to Bloomberg. The hackers, who also breached a U.K. software and service provider, are now probing institutions in Latin America and may be trying to compromise the Swift international bank messaging service, according to the privately held security firm, whose clients range from Russia's biggest lender Sberbank PJSC to Raiffeisen Bank International AG. Group IB last month signed an agreement with Interpol to share data on threat intelligence and the latest cyber criminal activities.
Taipei, Oct. 9 (CNA) The Criminal Investigation Bureau (CIB) said Monday that one Sri Lankan accused of helping hackers to steal about US$60 million from a Taiwanese bank has been arrested in the South Asian country.The Financial Supervisory Commission (FSC), Taiwan's top financial regulator, said that day that while most of the lost funds have been recovered, about US$500,000 remains unaccounted for.Chiu Shao chou ( ), a CIB section chief, told the press that the suspect was captured by Sri Lankan police when he tried to withdraw about US$26,000 after the money was wired to his account from Taiwan Oct. 6.Chiu said that after raiding the suspect's residence, Sri Lankan police found some other people, but whether they are accomplices requires further verification.Sri Lankan media cited international wire reports as saying that the man is an executive of a Sri Lankan state owned enterprise and has a bank account in the name of J.C. Nammuni.On Friday, Far Eastern International Bank ( ), one of Taiwan's medium sized lenders, said it reported to the FSC and the CIB that the bank found that its computer system had been infected with malware, which affected some of its PCs and servers, as well as the Society for Worldwide Interbank Financial Telecommunication's (SWIFT) network.SWIFT is a member only organization that provides safe and secure financial transactions for its members via a standardized proprietary communication platform that can facilitate the transmission of information about financial transactions.According to Far Eastern Bank, the malware allowed the hackers to wire about US$60 million from the accounts of the bank's clients to foreign destinations such as Sri Lanka, Cambodia and the United States.The CIB is planning to send a team, including IT experts of Far Eastern Bank, to Sri Lanka in the coming days to gain a better understanding of the case and provide assistance to police there.The CIB told CNA that the bureau needs time to prepare for the probe in Sri Lanka, as the two countries have no diplomatic ties and no Taiwanese official representatives are stationed there.Chiu said that after the CIB received the report from Far Eastern Bank, the bureau pinned down some servers located in the U.S. and the Netherlands that were used by the hackers to wire funds from the bank to overseas.He said the CIB has provided information about the case to police in the U.S. and Europe after asking for assistance.It is the first case of a Taiwanese bank suffering from such a serious hacking incident.FSC Banking Bureau Deputy Director Chuang Hsiu yuan ( ) said Far Eastern Bank has recovered US$57 million wired to Cambodia, US$1 million to the U.S. and US$1.6 million to Sri Lanka.Chuang said that the FSC has asked Far Eastern Bank to submit a report in one week to detail the hacking incident before determining whether the bank will face a fine for negligence. (By Liu Chien pang, Liao Yi yang and Frances Huang) Enditem JRatings
Four major lenders, including SBI and HDFC Bank, today voiced concerns over "stress" in the telecom sector and flagged possibility of defaults by debt laden operators at a meeting with an inter ministerial group.
"We are in the process of talking to all our lenders," a Reliance Communications spokesperson told CNNMoney, adding that the company plans to repay its creditors $3.9 billion by the end of September.
In a stock exchange release, PARD announced that subsidiaries China Fishery Group and China Fisheries International Limited (CFIL) have entered into a deed of undertaking with HSBC which has been pushing for the company s winding up as well as Bank of America and all its other club lenders, on Jan. 20.However, KPMG, acting as the joint provisional liquidators (JPLs) of China Fishery and CFIL, is refusing to play along, until $3.1 million in costs are paid upfront, said PARD.