BUSINESS
UGRO Capital to acquire Profectus Capital in Rs 1,400-crore all-cash deal to boost MSME lending
Sources say the transaction which has concluded at 1.07 times Profectus’ projected FY26 net worth, is being funded by UGRO through proceeds from its recently completed equity raise and internal accruals.
BUSINESS
Pine Labs IPO: Differences seen on valuations
While the company is aiming for $4-5 billion valuations through the IPO, sources say based on the initial feedback from roadshows, the interest received for Pine Labs in the ball park of $2.5–3 billion.
BUSINESS
Vault Matters | Is it miscommunication, misunderstanding or the fear of missing targets that’s the root cause of mis-selling?
Mis-selling of financial products is at least a two-decade old problem and a solution is nowhere in sight. Maybe finding a solution is still many years away, but it would be worth trying to find the root cause of the problem
BUSINESS
MC Explainer | Economy, banks, and us: How the latest RBI rate cut impacts all
A 100 bps rate cut since February 2025 is seen as a positive step to boost demand for loans or consumption. However, the flip side is that deposit rates - especially for retail - are set to trend lower at a time when the overall savings rate itself is trending down.
BUSINESS
MPC Analysis | RBI Governor Sanjay Malhotra unpacks all the goodies in one go to spur growth
We have done what we can, it’s now your turn to deliver, seems to be the messaging from the RBI Governor Sanjay Malhotra to the banking sector, India Inc and the government on the growth front.
BUSINESS
Vault Matters | Why Japanese and Middle East investors should be welcomed into the Indian banking sector
After the early wave of bank licenses rolled out in the 1990s, there has been a dearth of innovation, ideation, creation of fresh talent, and more importantly, capital into the Indian banking landscape has thinned in the recent years. This may change if India embraces serious foreign interest flowing into the banking sector
BUSINESS
Infusing fresh capital in IndusInd Bank may come with riders for Hinduja Group
Sources say RBI has asked the promoters of IndusInd Bank to nominate directors on the bank’s board and reverse the pledge created on promoter holdings as preconditions for further capital infusion
BUSINESS
Market likely to give high-single digit CAGR return over medium term, says BofA Securities' Amish Shah
India will continue to command a valuation premium over emerging markets because of its superior growth, improving corporate governance, visibility for structural growth and government policies, BofA Securities’ head of research tells Moneycontrol
BUSINESS
Vault Matters | The curious case of IndusInd Bank share price
Strangely enough, barring the single day fall on March 11 by over 20 percent, IndusInd Bank’s stock price has held up quite steady despite a barrage of bad news hitting the counter, denying the underlying negative sentiments around the stock. The logic defying price movement certainly warrants Sebi’s attention
BUSINESS
Emirates NBD likely top contender for IDBI Bank stake, DIPAM said to have explored valuations with potential bidders
Dubai-headquartered bank Emirates NBD is willing to shell out $6-7 billion in an all-cash deal for a 61 percent stake in IDBI Bank, Moneycontrol has learnt. This emerged after an informal conversation between DIPAM and potential bidders over valuation for IDBI Bank’s divestment.
BUSINESS
MC Exclusive: Forensic audit believed to be underway at Spandana Sphoorty to assess cash position
RBI’s inspection found irregularities in branch cash accounting, triggering a forensic audit. Disbursements were paused across most branches since mid-December, with limited operations now resuming.
BUSINESS
India vital to BofA’s strategy; plans to expand its GPS business in the country
India's rapid evolution of payments infrastructure — a combination of scale, digitisation and regulatory maturity — makes it one of the most sophisticated markets globally, Winnie Chen, head of Asia Pacific Global Payments Solutions at BofA, tells Moneycontrol
BUSINESS
Vault Matters | What kind of a cop should RBI be?
Many things are now digitised and automated, and information is available on a real time basis. Yet, the happenings at IndusInd Bank highlight the need for more scrutiny on the process followed by RBI’s supervision. That it’s happening within five years of the Yes Bank debacle compounds the issue
BUSINESS
For IndusInd Bank, MFI issues are larger than derivative woes
March quarter financials take a hit of Rs 4,975 crore, which includes accounting adjustments and reversals on account of derivative instruments as well as rectifying lapses in the bank’s microfinance portfolio. Auditors say incorrect accounting of derivatives started as back as FY16.
BUSINESS
RBL Bank evaluating opportunities in wealth management, says CEO
In an exclusive conversation, R Subramaniakumar, MD & CEO of RBL Bank said the bank’s interest in wealth management stems from its shift towards a customer-centric rather than a product-centric approach.
BUSINESS
RBL Bank's MD and CEO sees balance sheet risk reducing, plans to leverage scale across products
Whether microfinance, credit cards, mortgages or other secured loans, Kumar is clear that all segments will continue to remain relevant for the bank and contribute amply to the bottom line.
BUSINESS
TransUnion CIBIL's Bhavesh Jain makes a case for daily submissions of borrowers' credit records
TransUnion CIBIL said the credit growth has been significant and the portfolio qualities too have remained stable because of the credit infrastructure, availability of information and objective underwriting. The CIC does not see unsecured delinquency transmitting to secured loans.
BUSINESS
Sebi may delay Hinduja’s Invesco acquisition amid IndusInd Bank fiasco
While the capital market regulator has given a preliminary go ahead to the deal, the nod for sponsor approval, due by April 2025, is still pending and may be withheld till there is finality in IndusInd Bank investigations
BUSINESS
RBI mulls describing IndusInd Bank’s forex lapses as fraud
According to sources, the regulator is in conversation with the forensic auditor, Grant Thornton, on this matter and is evaluating whether lapses identified in treasury operations should be classified as case of fraud.
BUSINESS
Vault matters | Can banks handle a third successive rate cut?
Despite strong macro signals for a repo rate cut, banks face financial strain and tightening credit risk. A cautious approach to further rate reductions is advisable to safeguard financial stability
BUSINESS
Yes Bank's board initiates search for new chief executive
According to sources, the bank’s board has roped in Egon Zehnder to shortlist candidates for CEO position
BUSINESS
SMBC to meet RBI this week for Yes Bank stake purchase
The Japanese financial major is expected to file an application with the Reserve Bank of India to acquire a controlling stake in Yes Bank this week. After acquiring 20 percent from SBI and other banks, SMBC will increase its stake by another 31 percent in two more tranches, sources indicate.
BUSINESS
Bank of Baroda plans to scale up all subsidiaries before listing, says MD and CEO
Bank of Baroda holds 64.98 percent stake in the IndiaFirst Life Insurance and has a shareholding of over 98 percent in Nainital Bank.
BUSINESS
BoB World app's new version coming this fiscal, says MD and CEO, as the lender steps up on digital banking
There are 3.27 crore users on the BoB World mobile application as on March 31, 2025, an increase of seven percent from FY24.
