Private lender RBL Bank announced thursday that it had reached an agreement yesterday with global card provider Visa to issue credit cards activated on the Visa payment network. “RBL Bank Limited announced today the signing of the agreement with Bajaj Finance Limited to extend the co-branded credit card partnership for a period of 5 years until December 2026,” the exchange lender said. . The privileges guaranteeing the loans under the RBL credit agreement will be maintained and will be deemed to be allocated to the managing agent under the exit facility to guarantee the exit facility on the effective date of the plan. Unless otherwise specified in this Plan (including Article VI), the DIP Agent, the RBL Agent and the Note Trustee, together with their respective agents, successors and assigns, will automatically and fully release the DIP Agent, the RBL Agent and the Note Trustee from all their obligations and obligations under the DIP Credit Agreement, the RBL credit agreement and the debenture agreement on the effective date. if need be. RBL Bank announced today that it has extended its co-branded credit card partnership with Bajaj Finance Ltd for five years, until December 2026. By registering with us, you acknowledge that you will not use the Service to accept payments related to the following activities, business activities or business practices, unless you have previously obtained written permission from Stripe. It is prohibited to use the Service for commercial purposes, ordering or selling goods/services directly or indirectly related to jurisdictions that Stripe has classified as high-risk, such as Cuba, Iran, North Korea, the Crimea region and Syria. “The Reserve Bank would like to point out that it is well capitalized and that its financial situation remains satisfactory.
According to the half-year results as at 30 September 2021, the Bank maintained a comfortable capital adequacy ratio of 16.33% and a provision coverage ratio of 76.6%. The bank`s short-term liquidity ratio (LCR) is 153% as of December 24, 2021, against regulatory requirements of 100%,” the RBI said in a statement. Don`t miss a story! Stay connected and up-to-date with Mint. Download our app now!! the obligations (if any) of the noteholders and the lender under the DIP credit agreement and the RBL credit agreement to grant other future loans or financial arrangements to each of the debtors, to one of their respective subsidiaries or to one of their respective successors or assigns under the DIP credit agreement, of the RBL credit agreement and the debenture agreement, as the case may be, : completely terminated and no longer have force or effect at the time of entry into force. Earlier in the day, the Reserve Bank of India (RBI) eased fears after the central bank appointed an additional director to the board, saying RBL Bank was well capitalized and the bank`s financial situation remained satisfactory, and that there was no need for depositors and other stakeholders to respond to speculative reports. Subrata Panda Last updated on July 15, 2021 10:21 AM The following categories of businesses and business practices are excluded from the use of the Stripe Service (“Restricted Companies”). Restricted categories of activity may be imposed by network rules or the requirements of our financial service providers. In some cases, the companies listed below may be authorized for processing with Stripe`s express prior permission.
However, keep in mind that companies that offer illegal products or services are never allowed to use Stripe services. The types of enterprises listed in the right-hand column are representative, but not exhaustive. If you are unsure whether your business is a restricted business, or if you have any questions about how these requirements apply to you, please contact us. The bank plans to start issuing credit cards on the Visa payment network after the technology is integrated, which is expected to take 8 to 10 weeks. Therefore, he indicated that in the meantime, the issue rate of 100,000 new credit cards per month from banks would be affected until the Reserve Bank of India (RBI) clarifies the issuance of new credit cards on the Mastercard or network. Notwithstanding the foregoing, RBL`s claims under the Contest will incur interest (accruing at the default interest rate applicable under the RBL Credit Agreement) payable by debtors in accordance with the treatment specified for Category 3 in the Plan. Shares of RBL Bank fell 25% in trading on Monday, the biggest drop since its IPO in 2016. .
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