BUSINESS
Vault Matters | How I would remember Shaktikanta Das
If former Prime Minister Narasimha Rao would be remembered for quietly reforming the country in 1991, Das will be remembered as RBI’s very own Narasimha Rao. He brought about certain critical changes in the way banks and NBFCs operated and ensured that everyone towed the line
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
Vault matters: Generalist or a specialist - lenders’ dilemma
Until three years ago, being a specialist like a microfinance lender or catering exclusively to affordable housing or consumer loans helped, especially in raking premium valuations. Today, being a jack of all trades is helping lenders position themselves better amidst concerns emerging in various pockets of the financial services sector
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
Vault matters: Government should give a free hand to RBI on rate setting
The debate over optimal borrowing rates for India Inc. persists, with differing views between the government and the RBI. While rate cuts are popular, the stress in retail lending and bank profitability make them less feasible, with the RBI ultimately having the final say
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
Vault Matters: Government-RBI tussle over interest rate begins. Will it prolong?
With the base case for a rate cut not yet crystallising, the tug of war between RBI and the government on this front would be interesting to note. Goyal, has just as kick-started the war of words
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
Vault Matters: The partial stand on usurious pricing
It’s time RBI calls out the rates charged by banks on credit cards as usurious. Singapore is a step ahead on this. Timely action is critical because the repercussions of increasing delinquencies among middle class borrowers can be far more scathing than what’s playing out in the low income category. The latter somehow or other gets support from the government. The middle class is left on its own
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
