Talking about the synergies of the combined entity, V Vaidyanathan, Chairman & MD, Capital First said they would be carrying capabilities of creating retail asset.
Discussions between RBI officials and company members have taken place but cannot say that there has been assurance from RBI with respect to the IDFC merger, said R Thyagarajan, Chairman, Shriram Group.
IDFC Ltd is the parent company of IDFC Bank and is the one which is going to drive IDFC-Shriram merger forward. In an interview to CNBC-TV18, Vinod Rai, Non-Executive Chairman of IDFC spoke about the same.
In an interview to CNBC-TV18's Nisha Poddar, R Thyagarajan, Founder Chairman of Shriram Group, Rajiv Lall, Founder MD & CEO of IDFC Bank and Ajay Piramal, Chairman of Shriram Capital spoke at length about the merger.
IDFC chief Vikram Limaye was on Wednesday appointed as the Chief Executive and Managing Director of the National Stock Exchange. Listing out his priorities once his appointment get SEBI nod, Limaye said NSE IPO will figure in his near-term priorities.
NIIF-RDIF will invest in 20 projects in the next 3-4 years, says Kirill Dmitriev, Chief Executive Officer of RDIF on the sidelines of the Brics summit event in Goa. The NIIF-RDIF joint fund worth USD 1 billion will lead to USD 10 billion worth of investments in India.
Nidesh Jain of Investec Capital Services spoke about the reverse merger among other things. He said Bajaj Finance & Bajaj Finserv are big beneficiaries among NBFCs.
In addition to Bharat Financial's Non-executive Chairman, Digant Haria of Antique Broking also spoke and he said the size of the company will matter when an NBFC wants to become a bank.
Speaking to CNBC-TV18 after Yes Bank reported its quarterly earnings, MD and CEO Rana Kapoor says sectors like agri, renewable energy and small and medium enterprises (SME) are witnessing good credit growth.
Vikram Limaye, MD & CEO of IDFC is bullish on IDF being able to finance all infra projects in the country and says it has a potential of becoming a large NBFC.
Indranil Pan estimates GDP growth for this fiscal at close to 7.3-7.4 percent and says the growth momentum for FY17 could face challenges unless corporate balance sheets imporve and global growth picks up
IDFC had to make a provision of Rs 2500 crore and reverse Rs 139 crore of interest income, towards stressed assets during the September quarter. Kakar says the provisions were not mandated by regulations, but were made as a prudent measure.
IDFC's MD & CEO Vikram Limaye says India should make use of the current turmoil in the global markets to attract more flows.
Speaking to CNBC-TV18, Kishor Kumar Mohanty, MD, Gammon Infrastructure says the company benefited from fall in interest costs due to repayment of IDFC loan.
The reason why we are creating incremental Rs 2,500 crore provision is because as we transition to a bank, we want to make sure that the bank‘s balance sheet is completely protected against known risks, said Vikram Limaye, MD & CEO, IDFC.
Finance company IDFC‘s shareholders have approved the demerger of its financial undertaking into IDFC Bank. With this approval most of IDFC to IDFC Bank conversion process will be completed.
In an interview to CNBC-TV18, Girish Nadkarni, Partner, IDFC Alternatives, said there has been a pick up in private equity investments in the past 6 months with a push for renewable sector in the last 8-9 months. He expects lower capital costs, interest rates to help pick-up in activity.
Vikram Limaye of IDFC says it just has to make sure that its balance sheet transition in terms of size of balance sheet that it has when it becomes a bank is also managed in a way that it is regulatory compliant.
Suruchi Jain of Morningstar is not surprised and says all banks should be subjected to the same rules. Hence, the exemption is 30 percent of the eligible loans for the first year, which is the same for all the banks, the following years it will be taken up to 50 percent and 60 percent of loans.
Vikram Limaye said most institutions and banks have a good handle on the “problem assets†and that there has been no new increase in them.
Discussing the results, Vikram Limaye, MD & CEO of IDFC, said they will continue to build provisions till the bank starts operation.
IDFC's third quarter consolidated profit grew by 10 percent to Rs 500.68 crore.
Speaking to CNBC-TV18, Vikram Limaye, managing director and chief executive officer, IDFC, says though the government has taken some steps in the right direction, it will take atleast 18 months before investments pick up in new projects.
"We could have actually attracted all the capital that we needed to build out the country, whether it is from an infrastructure perspective, whether it is from a manufacturing perspective. We could have been in a completely different zone today," he told CNBC-TV18.
the company is doing its best to grow in a prudent way by focusing on low-risk ways of growing, which could be operating assets or financing high quality corporates, says Vikram Limaye, MD & CEO, IDFC.