Page 15 - Financial Services

Religare Enterprises is now debt-free, shares up 3% amid new vertical plans

The company said it will enter new sectors such as Asset Reconstruction, Alternate Investment Funds, Insurance Broking, Digital Wealth Management

Bank of India says it can absorb mark-down of recapitalisation bonds

Lender makes statement as central bank expresses concern at the recapitalisation of state-owned lenders through zero-coupon bonds.

Legal merger of Shriram Group firms to happen by Sep, Oct: YS Chakravarti

Demand is definitely coming back, said Chakravarti

Review of 'serious allegations' on, trust the Board: New BharatPe CEO

Meanwhile, reports have claimed that several BharatPe employees are looking for job change amid the saga.

MakeMyTrip to scale up financial services biz as it eyes wider user base

Currently the products are only sold to those buying tickets, hotel accommodation on its site. But now it will be offering insurance products even to those who don't

NBFC sector expected to remain buoyant, says RBI report

The pandemic has tested the resilience of NBFCs, but so far, the sector has emerged stronger: Report

IFSCA sets up panel for creating framework for transfer of stressed loan

The International Financial Services Centres Authority on Friday sets up a committee for creating a framework for transfer of stressed loans from domestic lenders to financial institutions in IFSC.

Processed 1 bn transactions last month, offline payments up 200%: PhonePe

Digital payments major PhonePe on Monday said offline merchant transactions on its platform have shown 200 per cent growth since last year.

"Debt resolution start-up Credgenics believes technology & analytics-led approach, the answer to India's mounting debt challenge"

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Technology will empower a billion Indians: Microsoft India President

On skills, it's estimated that more than half of Indian talent of all types will need reskilling in two years, says Anant Maheshwari

Communication fitness firm vani.coach to skill corp execs, eyes $15 mn ARR

Pune-based firm counts Lupin, L&T, Asian Paints, Reckitt and Cipla among clients; has raised a pre-seed round of $150,000, and is now in talks with some venture capitalists for a seed round

Ola to invest up to Rs 786 crore in Ola Financial Services

Ola Financial Services is expanding its suite of products by launching new lending offerings

Cholamandalam Investment and Finance reports Q2 net at Rs 606.54 cr

The assets under management as of September 30, 2021 stood at Rs 75,063 crore as compared to Rs 74,471 crore as of end September in FY 2021

Google-Equitas Small Finance Bank deposits deal under RBI's watch

Panel on digital lending may focus on marketplace for banking products

PayU aims to provide full-stack financial services to its customers

So far, the company has disbursed about $300 million in credit and it now wants to add new products

Xiaomi to offer full spectrum of financial services in India via partners

Xiaomi is bringing in offerings like gold loans, credit line cards and insurance products as it looks to provide the full spectrum of financial services across payment, lending and insurance in India

Avendus calls first close of Future Leaders Fund II, Rs 584 cr committed

The fund, a category-II AIF registered with Sebi, is targeting to raise Rs 750 crore with a green shoe option of another Rs 500 crore

Reserve Bank of India's FI-Index shows better access to financial services

The RBI had announced the introduction of such an index in its bi-monthly monetary policy statement on April 7

RBI imposes Rs 6 lakh penalty on Hewlett-Packard Financial Services

The RBI on Tuesday said it has imposed a penalty of Rs 6 lakh on Hewlett-Packard Financial Services (India) Private Ltd, Bengaluru for non-compliance with certain directions issued by it.

Razorpay acquires TERA Finlabs; bags third firm in less than 3 years

TERA Finlabs is a Bengaluru-based startup that provides technology, risk and capital solutions.