Page 25 - Finance

Enter the green age: The financial journey cannot be full of potholes

The details of the transition towards climate-change-related finance will require deft handling

Kotak Mahindra Bank takes corporate digital banking portal 'Kotak fyn' live

Portal will offer services across all products, including trade & services, account services, payments, and collections and make banking seamless for clients

More insurance players required for diverse needs of citizens: Irdai chief

Will look to move to risk-based solvency regime in the next two years, says Debasish Panda; 19 applications to set up shop are in the pipeline at various stages

India, Singapore link systems for real-time cross-border fund transfers

The India-Singapore payment connection is part of the trend in Asia where instantaneous, cross-border fund transfers via mobile phones are happening

HDFC prices its biggest ever rupee bond issuance; to raise Rs 25,000 crore

HDFC is stepping up borrowing from notes because its merger with HDFC Bank Ltd. will make accessing the bond market more difficult

SBI raises MCLR by 10 bps; increases deposit rates in some buckets

Lender announces decision after central bank last week raised the repo rate to 6.50%

US crackdown aims to push crypto industry back to the fringes of finance

The regulators are effectively building a wall between crypto trading and the banking and securities markets to prevent the types of systemic vulnerabilities that led to the 2008 financial crisis

Shriram Finance employs 3,536 people in Q3 hiring drive, to add 1,000 in Q4

Total workforce up 10% so far in FY23; recruitment also driven by merger of group firms

An idea whose time has come: Will NFIR be a game-changer for India?

The proposed financial registry will kill information asymmetry, and change the dynamics for every stakeholder in the economy for the better, reports Raghu Mohan

SBI likely to sell Rs 10,000 crore of AT-1 bonds around February 20

The bonds, which are likely to receive a rating of AA+, may go up for bidding on February 20 with issuance scheduled for the next day

D2C firm Mensa Brands raises Rs 300 crore debt from TradeCred

Direct-to-consumer (D2C) firm Mensa Brands on Tuesday said it has raised Rs 300 crore debt from TradeCred. The funds will be used for new brand acquisitions as well as brand growth, including product development, supply chain integration, and working capital investment, the company said in a statement. "With this additional capital, we will be able to double down on our growth ambition," Mensa Brands Founder & CEO Ananth Narayanan said. At present, Mensa has 25 brands across fashion, home, beauty and FMCG, including Dennis Lingo, Villain, Pebble, and MyFitness. Debt platform TradeCred has over Rs 2,200 crore of assets under management and more than 20,000 active users as of February 2022, the company said. "As part of Mensa's Rs 300 crore financing arrangement, 50 UHNIs (Ultra high-net-worth individuals) collectively participated," it added.

Indian banks' NIM to contract in FY24 as deposit costs rises: Fitch

Lenders should be able to offset impact by gradually passing on policy rate hikes to corporate loans: Agency

Bank credit for services up three-fold in Apr-Dec 22 as economy picks up

Credit to NBFCs and trade (wholesale and retail) showed maximum traction, RBI data showed

CSB Bank Q3 net up 5% to Rs 156 cr on strong growth in deposits and loans

Total income rises to Rs 682 crore from Rs 580 a year ago. Asset quality improves

Alive and kicking: What common thread links the new-age NBFCs?

Using their imagination,new-age shadow banks have shown that their business model can fly

Punjab & Sind Bank upgrades its FY23 guidance for NIMs, credit costs

S K Saha, managing director and chief executive of the bank, said the lender is trying to create an image of a niche bank

Moody's upgrades ratings for PNB, Canara Bank and Bank of Baroda to 'Baa3'

India's improving macros, banks improving credit profile trigger upgrade

Taxmen probe rich Indians for having foreign policies without approval

Foreign Exchange Management Act (Fema) is triggered when life insurance is bought from a foreign company without RBI approval

ING planning return to India by buying controlling stake in IDBI Bank

The government and the Life Insurance Corporation of India together may sell 60.72 per cent of IDBI Bank

RBI's ECL move may hit capital position of smaller private banks

Over the past 5-10 years, the probability of default would have been very high for the banking sector and that's why eventual ECL provisions could be higher