IndusInd Bank on Saturday confirmed its acquisition of microfinance institution Bharat Financial Inclusion after over a month of exclusive merger arrangement. CNBC-TV18's Kevin Lee caught up with Bharat Financial's MD & CEO, MR Rao.
The agreement provides for a mutually agreed exclusivity period for due diligence and discussions to evaluate a potential strategic combination between the two companies.
After Maharashtra and Uttar Pradesh, Punjab waives off loans. In an interview to CNBC-TV18, MR Rao, MD & CEO of Bharat Financial Inclusion spoke about the share of loans in UP, Maharashtra and Punjab.
In an interview to CNBC-TV18, Romesh Sobti, MD & CEO of IndusInd Bank shared his expectations for FY18.
Even if BJP wins in UP, life for investors will not change much, says Samir Arora, Founder & Fund Manager at Helios Capital. On the other hand, if BJP disappoints then it would have mattered only for few days.
Speaking to CNBC-TV18, Uday Kotak said that the world could see a mega trend which is protectionism and in changing global narrative there will be some slowdown in trade.
In an interview with CNBC-TV18, Suresh Ganapathy of Macquarie Capital Securities said that unsecured loans and consumer durables are likely to see higher non-performing assets (NPAs) in the NBFC sector.
Terming the Essar Oil-Rosneft deal as a positive development for banks with large exposure, Shyamsunder Bhat of Exide Life said that there are several other positives such as size of the foreign direct investment in India that that can be taken from the deal.
â€œUnderlying mechanism to resolve (NPA) issue is not that great,â€ says Gautam Trivedi, MD & CEO of Religare Capital Markets.
In addition to Bharat Financial's Non-executive Chairman, Digant Haria of Antique Broking also spoke and he said the size of the company will matter when an NBFC wants to become a bank.
The government on Tuesday relaxed Foreign Direct Investment (FDI) norms in various sectors to boost investments in the country.
The ED has arrested one Manish Jain under the Prevention of Money Laundering Scam. Jain transferred more than Rs 500 crore through 70 fake bank accounts
Due to this transition towards marginal cost of funding, Romesh Sobti, MD and CEO, IndusInd Bank says there will be a transitory compression of margins, but not a permanent one.
General Atlantic has nine companies in its portfolios and is likely to exit three by next year. It is open to exiting NSE via initial public offering (IPO) whenever promoters want to list it.
In an interview to CNBC-TV18, Romesh Sobti, MD and CEO of IndusInd Bank said there has been marginal improvement in CV disbursements.
Speaking to CNBC-TV18‘s Latha Venkatesh, VR Iyer CMD, Bank of India said the improvement in infrastructure sector can been seen only after the general elections.
The drop in the bond yields will not only boost trading income from huge excess SLR portfolio at over Rs 4 lakh crore but also improve the mark-to-market of HTM category. Banks will cut lending rates only when the operating policy rate shifts from repo to reverse repo, says Moses Harding, head of asset liability committee at IndusInd Bank.
IndusInd Bank has seen a slowdown in loan growth for commercial vehicles (CVs), says Romesh Sobti, MD and CEO of the Bank. However, Sobti expects an uptrend in the loan growth for medium and heavy commercial vehicle (MHCV) cycle from September onwards.
Ananda Bhoumik of India Ratings & Research however, does not feel that there is a likelihood of a ratings downgrade of banks at this stage. He acknowledges the fact that asset quality problems mainly persist with mid-sized public sector banks and believes Canara Bank is going through a turbulent phase at the moment.
Private sector lender IndusInd Bank expects to grow its business in the range of 25-30%. However, its core focus remains on basic banking of lending and deposits. According to Romesh Sobti, MD & CEO of the bank, it does not face any threat of asset quality. Both the corporate and retail loan books are not causing any worry.
The Forbes India Show introduces you to Gunit Chadha who recently moved from Mumbai to Singapore to take over as co-CEO of Deutsche Bank‘s Asia-Pacific division. He has also moved to the group executive Committee of Deutsche Bank.
Romesh Sobti, managing director and chief executive officer of IndusInd Bank said, "Saving bank customer is important to us from cross sell point of view. Also, in the short run there is some opportunity to move saving bank balances which are above say Rs 50 lakh."
Instead of jumping into the rate hike war, Kerala-based Federal Bank is in no hurry to increase its savings deposit rates. Rather, they may be planning to improve customers' service. This is despite the fact that its peer banks already upped savings deposit rates by 150-200 basis points.
MV Nair, CMD, Union Bank says credit growth is falling but deposit rates are still very high. He expects to pass on the rate increases by the second half of FY12. Romesh Sobti, MD and CEO of IndusInd Bank says they have already passed on a 25 bps rate hike to their customers.