Bank of Baroda’s South African unit is in the process of closing accounts held by Gupta-linked companies, according to Bloomberg.
The Mumbai-based bank – India’s second largest – is cutting ties to the Gupta family to ensure compliance with banking rules.
Last year, South Africa’s four biggest banks closed accounts linked to the Guptas.
Earlier this year the Bank of China – fifth largest in the world and third largest in China – cut ties with a Gupta-linked manufacturer of steel products.
The Money Show’s Bruce Whitfield interviews EWN’s Stephen Grootes.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
Nobody is willing to talk about his.— Stephen Grootes, EWN
The Guptas' lawyer Gert van der Merwe says he doesn’t know about it. Bloomberg, however, says it has three sources.— Stephen Grootes, EWN
Life is getting harder for the Gupta family and their operations.— Stephen Grootes, EWN
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
VAT is on the rise… Petrol levies are up… Bruce Whitfield asks small business guru Pavlo Phitidis to give advice.
Not convinced? The Money Show's Bruce Whitfield asks Personal Financial Advisor Warren Ingram for tips to budget well.
The Money Show’s Bruce Whitfield interviews Old Mutual Group Chief Executive Bruce Hemphill.
If this is the only business content you consume all week; you’re all right.
The Bank of China – owned by the Chinese government – has closed the accounts of steel maker VR Laser due to "perceived political risk".
Can a bank pull the plug on a client for reputational risk? The Bredenkamp vs Standard Bank case suggests it can.
NPA boss Shaun Abrahams announced on Friday that the state will reinstate fraud and corruption charges against Jacob Zuma.
The former principal of the school in Pinelands in Cape Town allegedly used the money for a holiday and golf membership.
A caller to The Eusebius McKaiser Show wanted to set the record straight about attacks on white farmers in SA.
Premier Helen Zille talks about the Western Cape government's work on land reform and how far along it is.
The Recyclers remember Ian McPherson, who was stabbed to death in Fish Hoek on Tuesday.
Home Affairs Minister Malusi Gigaba responds to a viral video of employee on her phone when she should be working.
The Money Show’s Bruce Whitfield interviews Dr Adrian Saville, Professor at Gordon Institute of Business Science.