Page 649 - Finance News

Ujjivan SFB's Rs 750-cr IPO priced at 3x its book value; issue opens Dec 2

The shareholders of Ujjivan Financial Services will get shares at a discount of Rs 2 per share to the final issue price.

SBI's credit card arm files offer document; aims to raise Rs 9,500 cr

The issue will comprise fresh fund raising worth Rs 500 crore, which will be used to augment the capital base to meet future business requirements

PMC scam: Court approves sale of two jets, yacht owned by HDIL's Wadhawans

Over 70% of the bank's advances went to HDIL group, which led to a huge crisis when the realty group defaulted on repayment

Irdai slaps Rs 2-cr fine on India Infoline Insurance for violating norms

The regulator has penalised the broker with a fine of Rs 1 crore each for violating norms on related party transactions and not having its own office infrastructure

Electoral bonds: FinMin knew serial number could reveal donor's identity

Ministry was reluctant to assign serial numbers initially, but relented after SBI raised concerns about internal control and reconciliation

ICICI Bank crosses 1 mn FASTags milestone, puts e-toll in fast lane

ICICI, however, seems to have a lion's share of the market

ICICI Bank aims to double number of FASTags to 4 million in six months

The bank said in September, it witnessed 15.4 million transactions totaling Rs 395 crore being undertaken by its 2 million customers

RBI red flags rising Mudra bad loans, asks banks to 'monitor closely'

The Mudra loan scheme was launched by Prime Minister Narendra Modi in 2015 to help the highly under-funded small and medium industries with cheap bank loans

Oman India Joint Investment Fund II buys 9.9% in Capital SFB for Rs 84 cr

The current round of fundraising will help the bank deepen its penetration in Punjab and expand into Haryana, Rajasthan and NCT of Delhi, with a significant focus on MSME loans

Karvy ban shows India must get rid of dodgy brokers to back healthy equity

India is hardly immune to the global trend of sliding fees and trading commissions.

IL&FS case: NCLT turns heat on CEOs of Axis, Standard Chartered Bank

Bankers, NCLT said, failed to appear in the case relating to the IL&FS fraud despite repeated notices from the ministry of corporate affairs

Microfinance industry's gross loan portfolio jumps 48% to Rs 2 trn in Q2

The top 10 states constitute 82.7 per cent in terms of GLP

DHFL lenders to make provisions from Dec quarter as auditor checks company

Banks have an exposure of Rs 38,000 crore in DHFL, which owes Rs 84,000 crore to mutual funds, retail depositors, and others

Maharashtra cooperative mills seek release of pledged sugar held with PSBs

Indian mills expect sudden spike in global sugar prices to persist due to drought in Brazil, giving India a fair chance to achieve 5 million tonnes of sugar export quota this year

IBC rules for NBFC resolution credit positive for banks, says Moody's

The provisions in the IBC provide for the orderly resolution of a stressed company. Until now, the only resolution framework for NBFIs was through liquidation

Lenders likely to opt for IBC for debt resolution of big accounts

May resort to debt recovery tribunals or Sarfaesi Act for the smaller ones

Yes Bank sells over 1.3 million shares of Reliance Capital via open market

However, the buyer of the shares could not be ascertained

RBI mulls new rules on corporate governance; wants banks to 'disclose more'

Speaking to an audience comprising of all the top bankers, RBI deputy governor said the new guidelines will be put in public domain and the RBI will be seeking comments before finalising any rules

PMC bank scam: ED consents to disposal of 2 planes, yacht of HDIL group

The EOW has already given its consent to dispose of these properties earlier

SBI raises Rs 3,814 crore from perpetual bonds to fund business growth

Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments