Fedbank Financial Services IPO consists fresh equity issue worth Rs 600 crore along with an offer for sale (OFS) comprising 35,161,723 equity shares. Under the OFS, 1.64 crore equity shares will be offloaded by Federal Bank and 5.38 crore shares by True North Fund VI LLP.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.