BUSINESS
Mizuho leads race for acquiring Avendus, but other options remain in play
Avendus Capital co-founder Gaurav Deepak is putting together a counteroffer to challenge Mizuho and Nomura’s preliminary bids, but valuation differences and unclear exit paths for potential investors may hinder his efforts.
BUSINESS
RBI MPC Analysis: Don’t read too much between the change in stance
From ‘withdrawal of accommodation’, RBI Monetary Policy Committee has altered its stand to ‘neutral’ in the gone by October policy. But this shouldn’t tempt one to think that a rate cut is around the corner because the animal called inflation may have changed its form from an elephant to a horse, but still remains to be quite a lethal one.
BUSINESS
Follow ‘compliance first’ culture: RBI governor Shaktikanta Das sends out a stern message to NBFCs
The governor elaborated that a few NBFCs may be aggressively chasing growth without building sustainable business practises and risk management frameworks commensurate scale, and complexities of their portfolios.
BUSINESS
Three reasons why October RBI MPC is crucial
This is the first policy after the US Federal Reserve slashed its benchmark rate by 50 basis points
BUSINESS
MC Exclusive | Search for the next Sebi chief may have started, say sources
Sources say the search process has been started so that a replacement is in place if incumbent Madhavi Puri Buch does not get an extension after her three-year tenure ends on February 28, 2025
BUSINESS
MC Exclusive | RBI ban is like baptism by fire, cannot let a crisis go wasted: Ashok Vaswani, MD & CEO, Kotak Mahindra Bank
Stating that resolving the issue around digital onboarding of customers through the bank’s mobile app is not just about satisfying the RBI, but about building the backbone to take the bank to the next level, Vaswani, told Moneycontrol that working on lifting the ban is his top priority.
BUSINESS
MC Exclusive | Reserve Bank ban ‘lit a fire under us’: Ashok Vaswani
I don’t feel different or like an outsider: MD & CEO, Kotak Mahindra Bank
BUSINESS
MC Exclusive | Uday Kotak is my greatest strategic asset, says Ashok Vaswani, MD, Kotak Mahindra Bank
Talking about the relationship with Uday Kotak, the bank's founder and non-executive director, Vaswani said that while he didn't know him previously, Kotak deserved credit for stepping away from something he had built.
BUSINESS
MC Exclusive | Will look at every inorganic opportunity: Ashok Vaswani, MD & CEO, Kotak Mahindra Bank
When asked if the bank would be interested in picking up a majority stake in IDBI Bank, Vaswani said the bank would evaluate all inorganic growth options
BUSINESS
Yes Bank’s return on assets to rise by 10 bps in FY25: CEO Prashant Kumar
The bank is exploring acquisitions in the microfinance sector as part of its plan to focus on higher-yielding products
BUSINESS
MC Exclusive: Our deposit growth will always be higher than loan growth: Prashant Kumar, MD and CEO, Yes Bank
Speaking exclusively to Moneycontrol, Prashant Kumar, MD & CEO, Yes Bank explains why he is confident about the turnaround experienced by the bank from March 2020 to now. In this interview, he addresses an array of topics concerning the bank, starting from the deposit strategy to the ongoing stake by SBI.
BANKING
MC Exclusive: Manappuram’s MFI arm Asirvad Micro Finance defers listing plans
Unfavouable market conditions and differences in valuation expectations seen as key reasons for Asirvad Micro Finance to postpone its listing plans. The company was supposed to roll out its IPO by September 30.
BANKING
IIFL Finance board to evaluate listing of mortgage, microfinance units: Nirmal Jain
Move is critical to mitigating possible business risks, Jain says, adding 360 One WAM and IIFL Securities did not face any issues when the RBI barred IIFL Finance from taking on new customers for gold loan business
BUSINESS
The system has stood the trial by fire, and confidence has increased: Nirmal Jain of IIFL Finance
There are small loans rated by CARE and the company is immediately repaying those loans so that the CARE rating can be withdrawn, says Jain
BUSINESS
TVS Credit, Baring EQT, Kedaara Capital in race to acquire Indostar Home Finance
Proceeds from stake sale of the housing unit is expected to be utilised by Indostar Capital Finance to meet growth requirements
BANKING
Lenders expect little relief from RBI on project finance norms
According to sources, the central bank may not budge on the demand by the industry to relax the 5 percent provisioning requirement. A few lenders are, however, hopeful that some leeway may come through on existing project loans.
BUSINESS
Northern Arc Capital open to inorganic growth options, says CEO Ashish Mehrotra
Small and medium business is of keen interest to Northern Arc and so is the secured lending segment.
BUSINESS
Swarup Kumar Saha of Punjab & Sind Bank leads race for Bandhan Bank's top job
Saha, Managing Director and CEO of Punjab & Sind Bank, was previously Executive Director at Punjab National Bank
BUSINESS
NaBFID is not looking for equity investment; we are adequately capitalised, says MD Rajkiran Rai
Rai said the company plans to borrow Rs 53,000 crore through bonds in the domestic market this financial year and has already raised Rs 9,000 crore.
BANKING
MC Exclusive: Payments Council, banks to seek RBI okay for entry into small-ticket loans biz
While a similar request was made a year ago, people in the know say this time around the regulator may be more amenable to trying out small-ticket lending through payments banks, as most posted net profits in FY24. Payments banks also seek a wider berth to deploy their liabilities.
BUSINESS
NaBFID's loan sanctions to rise to Rs 3.2 lakh crore by end of FY25, says MD Rajkiran Rai
On the equity investment front, Rai said that the company is not looking for it, but did not ruled out the possibility going ahead.
BUSINESS
Yes Bank's stake sale stuck as RBI concerned with majority ownership by foreign bank
On August 1, Moneycontrol citing sources reported that RBI has asked investors seeking a controlling stake in Yes Bank to reconsider their demands, including acquiring and retaining a majority stake, potentially prolonging the deal process
BUSINESS
TN Govt reaches out to Ford Motor on the fate of Chennai plant
Located in Maraimalar Nagar, following Ford’s decision to exit Indian market in September 2021, the manufacturing plant has been inoperative since June 2022
BANKING
HDB Financial aiming for $9–10 billion listing latest by March
HDFC Bank may offload about 10–15 percent stake through the IPO, which will likely be a combination of secondary sale and fresh capital. Bankers for the process are expected to be shortlisted by the end of September
