BUSINESS
MC Exclusive | M&M Finance in the process of restructuring its housing arm
The new leadership at the parent company is clear that the mortgage business has to move out of the affordable homes segment in order to pare its bad loans book.
BUSINESS
MC Exclusive | Third term as Axis Bank chief will be about continuing our journey: Amitabh Chaudhry
Axis Bank MD and CEO speaks exclusively to Moneycontrol as he takes charge for the third term, shares his insight into the House of GPS and the road ahead
INDIA
Vault Matters | Should the regulator have the final word or the only word?
About nine intermediaries, including Kotak Mahindra Bank, India’s fourth largest private bank, faced the ire of the Reserve Bank of India in 2024. A few that faced bans have resumed business while others are yet to get their names cleared. Yet, it is far from business-as-usual for most of them. Should there be recourse for businesses to get a better grip on the core problem before stringent regulatory action?
BUSINESS
Mizuho makes a binding bid for Avendus Capital
On December 18, Moneycontrol reported that Nomura has placed its final bid for the homegrown investment banking firm. Bid from Carlyle is expected around the first week of January 2025
BUSINESS
MC Exclusive | We're on course to be small finance bank, talks on with RBI: Fino Payments Bank chief Rishi Gupta
Would prefer to convert to a small finance bank, even if permitted to lend as payments bank, says Rishi Gupta, MD and CEO, Fino Payments Bank
BUSINESS
Axis Bank MD & CEO says not looking to acquire Yes Bank or IDBI Bank
While the bank has plans for inorganic growth options, Amitabh Chaudhry ruled out the possibility of making a move for IDBI Bank or Yes Bank.
BUSINESS
Interest rate cut won’t spur capex: Amitabh Chaudhry, MD & CEO, Axis Bank
Chaudhry believes that while there is pressure building to cut interest rates, that itself may not help improve capex.
BUSINESS
MC Exclusive | We aim to maintain our NIM at 3.8% in long run: Axis Bank chief Amitabh Chaudhry
Amitabh Chaudhry, MD & CEO, Axis Bank speaks exclusively to Moneycontrol on what lies ahead for the bank.
BUSINESS
Final binding bids for Avendus Capital come through
Nomura has bid for complete acquisition of Avendus Capital, while bids from Mizuho and other interested investors expected later this week, sources have told Moneycontrol
BUSINESS
HDFC Bank reopens stake talks with MUFG for HDB Financial
Ahead of possible changes to the holding norms proposed by the central bank, HDFC Bank is keen to onboard a large investor in HDB Financial before it goes public
BUSINESS
How Sachin Bansal's Navi Finserv reversed RBI lending ban in quick time
Navi’s move to reduce the peak interest rates could also mean that it will naturally reduce its exposure to customers with higher risk profiles and is likely to help the company reduce its NPA during FY 25
BUSINESS
MC Analysis | Sanjay Malhotra, who succeeds Shaktikanta Das as new RBI Governor, has a tougher task
Markets usually anticipate the incoming Governor to slash interest rates. This time around, with inflation being where it is, it needs to be seen whether there is adequate headroom to tinker with rates just yet. Malhotra’s decision on certain critical banking-related issues and the divestment of IDBI Bank will be interesting to note.
COMPANIES
Bain’s deal with Manappuram may face delays due to differences over terms
According to sources, promoters of Manappuram Finance and Bain Capital were not in agreement on structure of the deal
BUSINESS
MC Exclusive | Bajaj Finance to halt co-branded credit cards business
According to sources, Bajaj Finance is keen to launch its own credit card business if regulatory approvals come through rather than pursing co-branded cards with banks.
BUSINESS
MFI loan disbursements likely to be muted in November
This would be the third straight month of weak disbursements for the sector. Industry leaders warn that prolonged shrinkage in monthly disbursements could significantly hamper access to bank funding for NBFC-MFIs in the near term.
BUSINESS
Japanese lenders MUFG, SMBC may have walked off from Yes Bank deal
Unfavourable norms on control-related issues and apprehensions about how Yes Bank would contribute to consolidated financials of the Japanese lenders are said to be among the reasons for the breakdown of deal talks
BANKING
RBI Governor Shaktikanta Das may secure third term
Sources say his tenure may extended by up to two years. The final decision will be made by the Appointments Committee of the Cabinet (ACC), and an official communication from the government is expected soon
BUSINESS
MC Exclusive | Fundamental building blocks won’t change: DCB Bank chief Praveen Kutty
For inorganic options, either the geography, or the segment, or the product has to be different. We ensure that we avoid a situation whereby our partners feel that their toes are getting stepped upon, said the MD and CEO
BUSINESS
Being South-based helped us manage asset quality issues better: Sadaf Sayeed, MD & CEO, Muthoot Microfin
Kerala, Tamil Nadu, Karnataka contribute almost 49 per cent of the loan book. We have just entered Andhra and Telangana, which is also contributing to further growth. In these areas, the collection efficiency is much higher.
BANKING
IIFL Finance to reorient its gold loan business
From a pure retail product, the lender is in the process of transitioning it into a SME-lending product
BUSINESS
Govt's rate cut clamour grows as RBI governor's term nears end
Speaking at SBI’s Economic Conclave on Monday, Finance Minister Nirmala Sitharaman made a case for a rate cut by the Reserve Bank of India. Earlier last week, Commerce minister Piyush Goyal at CNBC TV18’s event also pitched for a reduction in the repo rate.
COMPANIES
Deloitte draws attention to Fusion Finance’s ability to continue as a going concern
According to its limited review report for September FY25 quarter, the company has breached various financial covenants resulting in some borrowings becoming repayable on demand
BUSINESS
Home-grown companies understand Indian consumers better than foreign players: HDFC Life MD Vibha Padalkar
In an exclusive interview to Moneycontrol, Padalkar says HDFC Life may not expand into health insurance at this juncture
BUSINESS
Would be nirvana to have all regulatory changes at start of the year: HDFC Life MD & CEO
Vibha Padalkar says she's confident that HDFC Life’s margins, In the medium-term, should stabilise and further expand
