AGP Executive Report
Last update: 8 hours agoCBI Probe: India’s CBI Mumbai unit has opened an investigation into an alleged ₹69 crore loss to Bank of Baroda tied to an Ahmedabad edible-oils firm, with claims of fund diversion, falsified accounts and undisclosed related-party transactions. Institutional Banking: Anchorage Digital says it has expanded institutional services by integrating U.S. dollar accounts and 24/7 SWIFT wire access via Standard Chartered, using named virtual accounts for settlement through its Atlas network. Bank Ratings: India Ratings upgraded Indian Overseas Bank’s long-term rating to ‘IND AA+’ (stable) and assigned ‘IND AA-/stable’ to Tamilnad Mercantile Bank, while Fitch gave Punjab & Sind Bank a first-time ‘BBB-’ issuer default rating (stable). Bank Performance: Axis Bank reported strong Q2 FY27 growth in advances and deposits, while IndusInd Bank posted net advances of ₹3,62,393 crore and deposit growth in its Q2 update. Corporate Finance: Regency Fincorp’s board approved a ₹65 crore NCD private placement at a 12% monthly coupon, and BGR Energy Systems signed a master restructuring with NARCL to tackle ₹3,736 crore debt. Trade Finance (Kenya): AfDB and Family Bank signed a $10m trade facility to boost foreign-currency lending for SMEs and women-led businesses.
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