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
BUSINESS
HDFC Bank in talks with credit funds to sell 20% of HDB Financial
Five funds are in talks to each acquire a 4-7 percent stake. The discussions are in the preliminary stages, and valuation is a crucial factor for their success
BUSINESS
MC Exclusive | Fintech Convergence Council may get licence to be self-regulatory organisation
Fintech Association for Consumer Empowerment (FACE) which is represented by a more heterogeneous set of players to apply for the SRO – Fintech licence and seen as favourable contender
BUSINESS
RBI asks microfinance lenders to go slow in Bihar, UP
Bihar and UP account for 25.3% of total MFI loans, and visible signs of overheating have emerged in the two states
BUSINESS
Chandra Shekhar Ghosh may step down from Bandhan Bank board
When CS Ghosh steps down as MD & CEO of Bandhan Bank on July 9, he would give up his board position at the bank also
BUSINESS
Bandhan Bank appoints Ratan Kumar Kesh as interim MD & CEO with effect from July 10
With the initial search for the top job not yielding the desired results, the bank decided to appoint an interim MD & CEO.
