BUSINESS
Tech must drive cost efficiency in banking, moving beyond subsidies, says Sukand Ramachandran of BCG
In an exclusive interview to Moneyconytrol, Sukand Ramachandran, Managing Director and Senior Partner, BCG explains why payments need to be self-sustaining business not dependent on incentives.
BUSINESS
News Analysis | India may rightly be going the China way on P2P lending
In 2018, when the Chinese regulator clamped down on the P2P model, many businesses shut shop in a matter of months. Industry observers say norms introduced by the RBI recently may result in a similar situation in India.
BUSINESS
Former Axis Bank executive Sumit Bali joins Yes Bank as Head of Retail Assets
Bali had on June 13 this year had stepped down from his position of group executive of retail lending at Axis Bank after a stint of four years.
BUSINESS
MC Exclusive| RBI asks a few large private banks to hike risk weights on MFI loans
Sources said that the regulator may require more banks to raise their risk weights on microloans, currently at 75 percent, to 125 percent if problems in the microlending category persist
BUSINESS
RBI MPC Analysis | Eyes still fixed on inflation, but who is bearing the cost?
June quarter results of banks indicated asset quality strains in isolated pockets and this, coupled with the scramble for deposits is weighing on their financials. A reduction in repo rates could be a breather, but it seems more like wishful thinking for now.
BUSINESS
Premji Invest, other private equity investors may seek exit from payment firm FSS
Investors are considering several exit strategies, including a potential listing on stock exchanges
BUSINESS
MC Exclusive: Tata Capital may see a delay in IPO
Tata Capital said that it has not sought an extension of the listing deadline from RBI and is prepared to meet the stipulated timeline.
BUSINESS
Omkara ARC, NARCL are frontrunners in SASF’s Rs 6,151 crore NPA sale
On July 13, SASF invited expressions of interest to sell 239 non-performing loan accounts worth Rs 6,151.16 crore. The company set a reserve price of Rs 642 crore, as per release.
BUSINESS
Tata Sons may have found a way around RBI’s mandatory listing requirement
The conglomerate is said to have agreed to refrain from borrowing on behalf of its group companies and has set aside Rs 9,000 crore to cut debt
BUSINESS
Yes Bank stake sale hinges on bidders agreeing to local banking norms
Two of the critical requests put forth by interested investors vying for a controlling stake in Yes Bank may have been rejected by the regulator
BUSINESS
Bank of Baroda to focus on IndiaFirst Life Insurance, Nainital Bank for divestment
Stake sale plans for BOB Cards seem have been put on hold
BUSINESS
Fairfax likely frontrunner for IDBI Bank stake acquisition
The central bank is said to have cleared the names of potential investors for IDBI Bank, with Fairfax India Holdings possibly emerging as the frontrunner to acquire a 60.7% stake. The fate of the other two bidders is unclear.
BUSINESS
ADIA may buy 10% of HDFC Credila from EQT Baring
South Korea’s Shinhan Bank picked up a 10% stake in Credila through a fresh issue of capital in May
BUSINESS
Blackstone readies Rs 40,000 crore bid to acquire 51% stake in Haldiram’s
A Blackstone spokesperson said that the firm had not placed a new bid for Haldiram's following their initial proposal in May 2024, noting that discussions had earlier halted due to a disagreement on valuation.
BUSINESS
MC Exclusive | NPCI's Praveena Rai emerges as frontrunner for MCX CEO position
Vedanta’s Ajit Sahu is also a strong contender for the top role at the commodities exchange, with two other candidates under consideration for the position.
BUSINESS
Kotak veteran Diwanji to step down, consumer banking division to be revamped
Post Diwanji's exit, the bank's consumer banking business is set for a major revamp. Ambuj Chandna, Pranav Mishra and Rohit Bhasin have been identified as leaders to head retail business verticals
BUSINESS
Divestment estimates for FY25 at 8-year low of Rs 50,000 crore
While this is higher by 8.6 percent compared to FY23’s actual miscellaneous capital receipts of 46,035 crore, at Rs 50,000 crore of budgeted divestment receipts, the government seems to have toned down its estimates on this front by a huge margin.
BUSINESS
Can the vision and strategy document make financial sector future-ready?
Experts say this was in the making for many years and with the interconnect in the financial services sector increasing, having a unified strategy would help
BUSINESS
Nine out 12 accounts referred by RBI for IBC-led resolution yield 54% of claims admitted
According to the Economic Survey 31,394 corporate debtors involving a value of Rs 13.9 lakh crore have been disposed of from 2016 to March 2024.
BUSINESS
Fresh deposit rate repricing overtakes repricing of lending rates: Eco Survey
Bankers say the mismatch between deposit rate hikes and increase in lending rates may be attributed to the stiff liquidity conditions and steep competition in the market.
BUSINESS
Torrent may be frontrunner to acquire Gujarat Titans IPL team from CVC
The decision to exit the IPL team stems from an internal restructuring process at CVC. The French fund is looking at monetizing a few portfolios in India
BUSINESS
Why change in banking regulations is important for Yes Bank to find a buyer
Going by news reports, a foreign bank is seen as preferred suitor for Yes Bank. However, the present laws don’t permit a foreign bank to take controlling stake in an Indian bank.
BUSINESS
MFs expected to do the heavy lifting in upcoming QIPs of public sector banks
With Rs 28,000 crore of secondary market share sale lined up by five public sector banks, sources say domestic mutual fund houses may be the key participants in the capital raise plans
BUSINESS
M&M, JSW in talks with Skoda Auto for potential partnership
One of the two Indian conglomerates may acquire a 15-20% stake in Skoda Auto Volkswagen’s Indian operations. The partnership is expected to boost Skoda’s distribution network and production capabilities in India
