BUSINESS
ICICI Bank says no salary or ESOPs paid to Sebi chief Buch since 2017
ICICI Bank or its group companies have not paid any salary or granted any ESOPs to Madhabi Puri Buch after her retirement, other than her retiral benefits. It may be noted that she had opted for superannuation with effect from October 31, 2013, the bank said it a statement to media
BUSINESS
MC Exclusive: Stake sale talks at CreditAccess Grameen hit valuation speed bump
Several suitors, including non-banks and private equity firms, have explored acquiring CreditAccess Grameen, but there has been a valuation mismatch.
BUSINESS
Co-branded cards have advantage in activation over traditional ones: RV Ramanathan
The co-Founder and CEO of Hyperface says as regulations for co-branded cards evolve and customer needs become more sharply defined, the segment will witness faster growth.
BUSINESS
The man who helped tame SBI's bad loan problem takes charge as Chairman; bets on MSMEs
Challa Srinivasalu Setty, SBI's newly appointed Chairman, speaking exclusively to Moneycontrol said he is set to make MSMEs his top priority in his tenure at the corner office and ensure the bank's culture of equal opportunities for all is upheld
BUSINESS
MC Exclusive: Role of banks may diminish in all economies given heightened regulatory pressure: Saurabh Tripathi of BCG
In an exclusive conversation with Moneycontrol, the global leader, financial institutions, at the consultancy cautions that with regulatory oversight increasing across the globe and in India, it might lead to an existential crisis for the banking industry.
BUSINESS
Will look at IPO when we touch Rs 50,000 cr of AUM: Manish Shah, MD & CEO, Godrej Capital
Manish Shah, MD & CEO, spoke exclusively to Moneycontrol. He says being a part of a big conglomerate is a big right to win in an already crowded space.
BUSINESS
MC Exclusive | Alphabet-backed Aye Finance appoints bankers for Rs 2,000-crore IPO
Targeting listing in the next 9–12 months, the company has appointed Axis Capital, JM Financial. Nuvama and IIFL Securities to manage the public issue
BUSINESS
Tech must drive cost efficiency in banking, moving beyond subsidies, says Sukand Ramachandran of BCG
In an exclusive interview to Moneyconytrol, Sukand Ramachandran, Managing Director and Senior Partner, BCG explains why payments need to be self-sustaining business not dependent on incentives.
BUSINESS
News Analysis | India may rightly be going the China way on P2P lending
In 2018, when the Chinese regulator clamped down on the P2P model, many businesses shut shop in a matter of months. Industry observers say norms introduced by the RBI recently may result in a similar situation in India.
BUSINESS
Former Axis Bank executive Sumit Bali joins Yes Bank as Head of Retail Assets
Bali had on June 13 this year had stepped down from his position of group executive of retail lending at Axis Bank after a stint of four years.
BUSINESS
MC Exclusive| RBI asks a few large private banks to hike risk weights on MFI loans
Sources said that the regulator may require more banks to raise their risk weights on microloans, currently at 75 percent, to 125 percent if problems in the microlending category persist
BUSINESS
RBI MPC Analysis | Eyes still fixed on inflation, but who is bearing the cost?
June quarter results of banks indicated asset quality strains in isolated pockets and this, coupled with the scramble for deposits is weighing on their financials. A reduction in repo rates could be a breather, but it seems more like wishful thinking for now.
BUSINESS
Premji Invest, other private equity investors may seek exit from payment firm FSS
Investors are considering several exit strategies, including a potential listing on stock exchanges
BUSINESS
MC Exclusive: Tata Capital may see a delay in IPO
Tata Capital said that it has not sought an extension of the listing deadline from RBI and is prepared to meet the stipulated timeline.
BUSINESS
Omkara ARC, NARCL are frontrunners in SASF’s Rs 6,151 crore NPA sale
On July 13, SASF invited expressions of interest to sell 239 non-performing loan accounts worth Rs 6,151.16 crore. The company set a reserve price of Rs 642 crore, as per release.
BUSINESS
Tata Sons may have found a way around RBI’s mandatory listing requirement
The conglomerate is said to have agreed to refrain from borrowing on behalf of its group companies and has set aside Rs 9,000 crore to cut debt
BUSINESS
Yes Bank stake sale hinges on bidders agreeing to local banking norms
Two of the critical requests put forth by interested investors vying for a controlling stake in Yes Bank may have been rejected by the regulator
BUSINESS
Bank of Baroda to focus on IndiaFirst Life Insurance, Nainital Bank for divestment
Stake sale plans for BOB Cards seem have been put on hold
BUSINESS
Fairfax likely frontrunner for IDBI Bank stake acquisition
The central bank is said to have cleared the names of potential investors for IDBI Bank, with Fairfax India Holdings possibly emerging as the frontrunner to acquire a 60.7% stake. The fate of the other two bidders is unclear.
BUSINESS
ADIA may buy 10% of HDFC Credila from EQT Baring
South Korea’s Shinhan Bank picked up a 10% stake in Credila through a fresh issue of capital in May
BUSINESS
Blackstone readies Rs 40,000 crore bid to acquire 51% stake in Haldiram’s
A Blackstone spokesperson said that the firm had not placed a new bid for Haldiram's following their initial proposal in May 2024, noting that discussions had earlier halted due to a disagreement on valuation.
BUSINESS
MC Exclusive | NPCI's Praveena Rai emerges as frontrunner for MCX CEO position
Vedanta’s Ajit Sahu is also a strong contender for the top role at the commodities exchange, with two other candidates under consideration for the position.
BUSINESS
Kotak veteran Diwanji to step down, consumer banking division to be revamped
Post Diwanji's exit, the bank's consumer banking business is set for a major revamp. Ambuj Chandna, Pranav Mishra and Rohit Bhasin have been identified as leaders to head retail business verticals
BUSINESS
Divestment estimates for FY25 at 8-year low of Rs 50,000 crore
While this is higher by 8.6 percent compared to FY23’s actual miscellaneous capital receipts of 46,035 crore, at Rs 50,000 crore of budgeted divestment receipts, the government seems to have toned down its estimates on this front by a huge margin.
