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
COMPANIES
Binding bids for KKR-backed Avendus Capital likely soon
Efforts for a management buyout led by one of the promoters seems to have hit a wall, according to sources
BUSINESS
India will be economically important for the rest of the world, says KV Kamath
China plus one strategy, the outcome of the US presidential election to a possible return of private capex — veteran banker KV Kamath speaks exclusively to Moneycontrol
BUSINESS
Kamath defends RBI's strict actions on banks, NBFCs: 'Better to clamp down now'
Regulator has to take action when it sees that practices are not appropriate or are lax, Kamath said.
BUSINESS
MC Exclusive | The case for divestment is now getting a little grey: KV Kamath
According to Kamath, if PSU banks are self-sufficient on capital, the need for divestment is not clear
BUSINESS
Older players will have to learn from fintechs to drive innovation, says KV Kamath
Speaking exclusively to Moneycontrol, Kamath has said while innovation cannot happen without being on the edge, it is important for companies to play within the boundary lines
BUSINESS
Fresh capital from IPO will be channelled to adding distribution and expanding bank presence: Niva Bupa CEO
Niva Bupa's Rs 2,200-crore IPO is set to open on Thursday and will be partly a new share sale and part offer for sale.
BANKING
RBI asks microlenders to halt the practice of ‘netting off’ loans
The intent behind clamping down on this industry practice, say sources, is to ascertain how many borrowers remain standard should a loan not be rolled over by the lender
BUSINESS
MC Exclusive | Don't want to chase banned NBFCs down when their chips are down: V. Vaidyanathan, MD & CEO, IDFC First Bank
Though the bank has disbursed up to Rs 40,000 crore of corporate loans during this period, there is not a single NPA from these credits, according to V. Vaidyanathan, MD & CEO, IDFC First Bank.
