Page 648 - Finance News

How India's millennial credit card boom is running into Ambani's ambitions

India's richest man, Mukesh Ambani, wants to connect 30 million small retailers with common inventory-management, billing and tax platforms as well as low-cost payment terminals

RBL Bank to raise Rs 826 cr via preferential allotment to five investors

Board agrees to allot 24.24 mn shares at Rs 340.70 apiece; RBL had already told shareholders at AGM that it would raise equity capital up to Rs 3,500 cr

Kerala govt set to get its own bank as HC allows merger of co-op lenders

Chief Minister Pinarayi Vijayan also tweeted that the state's own bank would commence soon.

Yes Bank invoked 6.5 mn shares of Reliance Infra between November 25-28

With this, the holding of Reliance Project Ventures and Management Ltd in Reliance Infra has come down from 30.05 per cent to 27.58 per cent, as per the filing.

It will need more than a rate cut to salvage India's sputtering economy

It wasn't too long ago that economic aspirations for India echoed China's. Now this young country of 1.4 billion people is looking more like Indonesia, Malaysia or the Philippines

Banks gave about Rs 72,136 crore to NBFCs from April to October 2019

Banks are supporting finance companies also by buying the high retail loan pools and SME

YES Bank expands equity offer to $2 billion; board to meet on December 10

Board of directors held marathon meeting which lasted over eight hours

In a first, RBI moves NCLT seeking insolvency proceeding against DHFL

An interim moratorium on the assets of the beleaguered company has also commenced following the RBI's application, and will continue till it is accepted or rejected by the NCLT

Liquidity pressures faced by NBFCs, HFCs, to continue: Fitch Ratings

Increasing competition to offset lower growth may weigh on profitability and test risk appetite

Bank recapitalisation should be done through cash, not bonds: Rangarajan

According to him, the mode of recapitalisation that is being done now is through the issue of bond

Crisis-hit Yes Bank poised to reveal crucial fund-raising details

Yes Bank Ltd. is expected to name the investors and the amount of money they will contribute after its board signs off on the plan at a meeting on Friday

India's banks wrote off Rs 2 trillion worth of bad loans in 2018-19

Even as banks have written off more loans than before, recovery of bad loans has also improved substantially in the past couple of years

Loans sanctioned by NBFC sector drops 34% in Q2, personal loans see uptick

Housing, commercial vehicle and term loans fall 23-85% in the September quarter; gold loan reports growth

ADB extends $451 million loan for Chennai-Kanyakumari Industrial Corridor

The Chennai-Kanyakumari Industrial Corridor is part of the East Coast Economic Corridor in Tamil Nadu

Muthoot Fincorp expects 15-17% growth in assets management in current FY

Presently, Muthoot Fincorp has over 3,600 branches in India, with seventy percent in southern markets

Edelweiss Housing, Bank of Baroda tie up for for co-lending on home loans

Under the pact, EHFL and BoB will share risks and rewards in creating a conducive lending ecosystem for home loan seekers

Bank of Baroda raises Rs 1,650 crore via Basel-III compliant bonds

The issue, which opened on Tuesday and closed the same day, saw a total of 21 allottees through private placement of bonds

MFI sector growth falters and defaults rise with Assam protests, slowdown

Natural calamities, over-lending and liquidity issues with NBFCs add to the sector's woes

Sitharaman seeks Parliament nod for additional spending of Rs 21,246.16 cr

This includes over Rs 8,820 crore for the newly formed union territories of Jammu and Kashmir and Ladakh

PE funds bet big on crisis-hit NBFCs even as other investors balk

The funds have invested about $2 billion this year in the country's non-bank financing sector, which is worth some $40 billion.