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
Venezuela – once as rich as Norway – is suffering an apocalyptic collapse without precedent.
The Money Show’s Bruce Whitfield interviews Fairtree Capital Portfolio Manager Jean-Pierre Verster.
The Money Show’s Bruce Whitfield interviews Lonmin CEO Ben Magara.
Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.
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.
Member of the SASOP, Dr Eugene Allers chats about the causes behind addiction to over the counter medication.
Managing jealousy has become increasingly important, particularly with the evolving structure of modern relationships says Dr Eve.
Swartz says he would have done anything to get the R1 million prize money.
Former police minister Adriaan Vlok has rejected accusations that former minister Malan was at the centre of a paedophile ring.