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.
BUSINESS
MC Exclusive | Confident that PAT will come back by next quarter: V Vaidyanathan, MD & CEO, IDFC First Bank
V. Vaidyanathan, MD & CEO, IDFC First Bank, explains the reason behind exceptions made for loans given to MFIs. He is hopeful that the empathy shown to the MFI customers will pay rich dividends in the long run.
BUSINESS
IndusInd Bank will take 6–9 months for AMC biz to operationalize: CEO Sumant Kathpalia
On August 19, RBI gave its go ahead for the bank to set up its asset management business.
BUSINESS
MC Exclusive | M&M may pick up 50% stake in Škoda Auto’s India business
While the deal structure is being finalised, M&M may hold first right of refusal if Škoda Auto Volkswagen decides to sell a higher stake in the company
BUSINESS
Bajaj Finance not to originate loans from Bajaj Auto
The move follows Bajaj Auto’s decision to create its captive financing unit – Bajaj Auto Credit Limited, which started its operations in March 2024
BUSINESS
MC Exclusive: If private credit becomes $70–80 billion industry in 5–7 years we would have done well: Kanchan Jain of Ascertis Credit
Speaking to Moneycontrol on the sidelines of getting a new identity for the company, Kanchan Jain, Head of Ascertis Credit, formerly BPEA, emphasised that a change in name does not mean a change in investment philosophy.
BUSINESS
HDFC Bank’s FY26 growth to be slightly higher than market growth
In a call with media, while the management refrained from making any forward looking guidance, it indicated that credit deposit ratio may inch back to pre-merger levels in the next two years.
BUSINESS
MC EXclusive | RBI may not budge on 26% voting rights cap for bank promoters
Capping voting rights at 26 percent is unique to India. Most countries permit promoters to enjoy voting rights commensurate to their shareholding
BUSINESS
MC Exclusive | Japan looking to collaborate with India on UPI, says NTT Data Payment’s India head
Takeo Ueno said that India is the lodestar when it comes to online retail payments, and the UPI roll-out is something Japan can learn from and optimise.
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.
