BUSINESS
Strategic decisions to be taken when SMBC comes board: Prashant Kumar, MD & CEO, Yes Bank
On the retail front, while the RDIF book should shrink by Rs 7,000–8,000 crore this year, concerns pertaining to weak asset quality have to do with the quick flip in the retail credit cycle, Kumar said
BANKING
SBI eyes spot among top 10 global banks by market cap in 5 years: Chairman CS Setty
Setty says investor response to SBI’s QIP was beyond expectations
BUSINESS
Committed to providing $1billion in financing to female entrepreneurs by 2028, says Standard Chartered's Xie Wen
Green loans is another area of interest for the global head of SME Banking at the London-based bank. India is one of the top 3 markets, with climate investment potential of $543 billion, says Xie Wen
BUSINESS
RBI said to have asked IndusInd Bank’s board to expand CEO search
The board of IndusInd Bank, which furnished some names for the CEO's position in mid-June, has been informally told by the RBI to look at more candidates, sources say
BUSINESS
Vault Matters: Why RBI should play a more proactive role as a supervisor
Senior supervisory managers upping their engagement with banks has instilled disciple and brought about some moral responsibility in dealing with matters that are not clear-cut. But can supervision be made proactive? How about involving SSMs as observers in critical board meetings, such as the Audit Committee Board (ACB) for a start?
BUSINESS
IPOs of SME lenders Veritas Finance & SK Finance likely in August
According to sources, both companies are in the process of roadshows and are likely to roll out their IPOs by early next month.
BUSINESS
Businesses that are national champions must go public: Gopal Jain, Gaja Capital
Speaking exclusively to Moneycontrol, Jain laid out why India is becoming a hit destination for global PE investors, and how the development of a good exit option through IPOs will be a magnet to attract more foreign money.
BUSINESS
Aggrieved Credit Suisse AT-1 bondholder approaches EOW against HDFC Bank officials
They allege mis-selling by HDFC Bank They were sold AT-1 bonds of Credit Suisse in May 2021. These bonds were written down to zero in March 2023 when Credit Suisse was merged with UBS. AT-1 holders had to take a complete write-off.
BUSINESS
Vault Matters | Bank or NBFC, the valuation dilemma
Remaining an NBFC has merit, but converting to a bank offers long-term funding advantages. The dilemma lies in the cost and valuations involved in the transition
BUSINESS
Karnataka Bank likely to elevate new COO Raghavendra Bhat as interim CEO
Managing director and CEO Srikrishnan Hari Hara Sarma resigned on June 29 and the resignation takes effect from July 15
BUSINESS
Blackstone, Advent, EQT and Kedaara show interest in Axis Finance
Sources say major private equity funds have shown interest in picking up a significant minority interest in the company to begin with. They may make a bid to take controlling interest after three years from the date of initial investment.
BUSINESS
Vault Matters | ‘True and Fair’ or ‘True and Correct’: What should be the objective of a statutory audit?
Given the complexity of business and accounting practices, and the growing list of interested stakeholders, it is critical that we reset the objective of statutory audit. It should rise above the customary tick mark with a lilac pen and a documents compilation process
BUSINESS
Tata Capital rights issue at nearly one-third the unlisted price
The funds are likely to be utilised for absorbing incremental credit costs owing to the merger of Tata Motors Finance with Tata Capital.
BANKING
Karnataka Bank CEO Sarma steps down due to differences with board
Sources say the board refused to ratify certain consultancy payments incurred by the bank, which resulted in differences between the CEO, another senior official, and the board
BUSINESS
Vault Matters | HDB Financial’s IPO is a much needed reality check
A host of issues has gone against the company. However, the key takeaway is that being a part of a big house alone is not enough to sell a story to investors
BUSINESS
Citigroup, HSBC, Morgan Stanley, Kotak and I-Sec to lead SBI's Rs 25,000-crore QIP
The state-run lender's QIP likely to be rolled out in August or September
BUSINESS
IndusInd Bank’s MFI, unsecured loans under scanner for possible flouting of lending norms
The bank may have extended loans to husbands of some MFI borrowers to ensure that the loans didn’t turn bad, The practice, flagged during an audit, has since been stopped
BUSINESS
Vault Matters | The sudden rush of action in financial services sector
Development in the financial services space is a mix of good, bad and ugly. Nonetheless, the current happenings and its impact, expected to unravel in the next 12 - 18 months, will be critical in shaping the medium-term outlook for the financial services sector
BUSINESS
HDB Financial's MD & CEO explains discounted valuation for the IPO
HDB Financial to raise Rs 12,500 crore through IPO for which bidding will take place between June 25 and June 27
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.
