Brookfield-backed IndoStar Capital plans to bring down its corporate book to zero by March 2023, and is betting big on retail. Co-existence of banks and NBFCs, its top executive believes, is necessary as banks have liability strength and NBFCs have asset-side strength.
The company's net revenues from operations, however, fell 16 per cent to Rs 157 crore as against Rs 186 crore in Q3 FY20
Sridhar, who has worked with the Sriram Group since 1985, will be taking over from Vimal Bhandari who led the firm since 2011. Bhandari will remain on the board of IndoStar and stay as a shareholder, a company release said.
In a panel discussion on CNBC-TV18, representatives from India Inc listed their views and concerns on the likely impact the new tax regime brings on their business and industry.
If rising costs are shrinking profits, here's how you can turn less into more
Hindustan Unilever, the largest fast moving consumer goods company in India, beat street estimates on Monday as net profit rose 15 percent year-on-year to Rs 787 crore, helped by lower cost of key raw materials.
Hindustan Unilever, India's largest consumer goods maker, posted a 21%growth in its quarterly profit helped by price hikes and better-than-expected volume growth, pushing its shares up nearly 8% to its lifetime high on Monday.
The much-touted RBI’s draft guidelines on new banking license are finally out! No doubt, it will pave the way for banking operations in India. However, clauses like financial inclusion and listing norms, mentioned in the draft may drive new entrants to tread cautiously before they apply for a license.
Shares of non-banking finance companies are back in the limelight after the Reserve Bank of India (RBI) gave clarification on securitized loans to priority sector.
Violent farmer protests over land acquisitions in Uttar Pradesh have forced the central government to aim at tabling the land acquisition bill in the upcoming monsoon session. However, land acquisition for industrialization in south India’s Tamil Nadu has so far been peaceful, reports CNBC-TV18’s Swathi Narayanan.
The Reserve Bank of India’s move to remove priority sector status for bank loans to non-banking finance companies had investors rushing to dump shares of NBFCs on Thursday.
In an interview with CNBC-TV18, R Sridhar, managing director, Shriram Transport Finance Company, spoke about the company’s results and the road ahead.
Non-banking finance companies that accept deposits will now have to maintain a capital adequacy ratio of 15%, up from 12% currently, the Reserve Bank of India (RBI) notified on Thursday.