BUSINESS
Shriram Finance poised for massive re-rating with MUFG entry after $4-bn fresh infusion
Sources said the stake acquisition will be executed through a combination of preferential allotment and warrants.
BUSINESS
Aiming to increase wealth AUM to Rs 15 lakh cr by 2030: SBI Chairman
Currently, the bank has Rs 4 trillion of wealth assets, mostly in the form of deposits
BUSINESS
A bank’s biggest expense is mobilising resources, not operations, says SBI chairman CS Setty
Banks is India rely heavily on deposits for liabilities, as against market borrowings in the US but it may change in 10 years, Setty tells Moneycontrol
BANKING
SBI converging all payments system under one umbrella, says chairman CS Setty
YONO as a property is inseparable from SBI. The bank has identified 10,000 branches, predominantly those with high footfall, and deployed floor managers to assist customers with YONO, Setty tells Moneycontrol
BANKING
Will acquire 1% more market share annually to hit 25% GDP target, says SBI chief Setty
SBI has done very well in terms of business, protecting the margins despite moderation in policy rates, chairman CS Setty tells Moneycontrol
BUSINESS
An emotional townhall, tag-along option and more: Finer details of the Avendus - Mizuho deal
Alongside KKR’s stake sale, the private equity firm has also made an offer to acquire the shares held by Ranu Vora, one of Avendus’ co-founders.
BUSINESS
MUFG likely to infuse $3.5-4 billion for 20% stake in Shriram Finance; board meet likely this week
The proposed transaction will not trigger an open offer, as the stake acquisition will be entirely through a primary issuance of shares.
BANKING
Deutsche Bank’s India retail sale faces valuation hurdles due to wealth biz run down
The sale process may involve divestment of items on its core balance sheet. RBL Bank likely to join the bid process
BUSINESS
DBS enhancing products for affluent segment, investing in tech and people: DBS India CEO Rajat Verma
Confident of doubling the wealth assets in the coming years, Verma shares insight into his plans for wealth business and more in an exclusive interview with Moneycontrol
BUSINESS
Warburg backed TruHome Finance kick starts Rs 3000 crore IPO process
JM Financial, IIFL Capital, Kotak and Jefferies have been appointed as bankers to the IPO
BUSINESS
Mizuho to close in on Avendus deal in a week
The Board of Avendus Capital is set to convene next week to evaluate the deal proposal from Mizuho to buyout stakes held by KKR and other investors including a few founder promoters.
BUSINESS
Yes Bank board opts against retail head’s continuance, no clarity on CEO’s term
SMBC may exercise its say in CEO appointment at the bank; likely to recommend a person from within the group.
BUSINESS
Open to strategic investor at right price, will help fast forward growth, says DCB CEO Praveen Kutty
With capital buffers strong, MD & CEO Praveen tells Moneycontrol that focus is on operational efficiency while keeping the door open for strategic investors but at the right valuation
BUSINESS
RBI MPC Analysis: Forget Rupee, focus on growth - the straight message from RBI Governor
Loans are set to get cheaper once again, which signals that banks are expected to play a pivotal role in lifting domestic growth, just like they did post pandemic. Is the market dynamics in favour of a quality credit growth; that’s the challenge ahead.
BUSINESS
RBI approves Vikram Sahu’s appointment as India CEO of Bank of America
Kaku Nakhate, who held the position for 15 years, transitions to the new role of chair–India
BUSINESS
RBI consolidates 3,809 circulars into master directions, scraps 5,673 obsolete norms, to improve ease of compliance, says DG Murmu
Murmu furher said that any circular issued midway during the year will now be added as an amendment to the concerned master direction, and all master circulars will be updated within a period of one year.
BUSINESS
Jefferies to rope in veteran financier Keki Mistry for its AMC arm
The company has applied to Sebi for an asset management license and in the process of putting together a top management team.
BUSINESS
IndusInd Bank said to have kick started $1 billion equity raise plans
The bank is likely in talks with large sovereign funds such as GIC for a capital raise, expected to be rolled in a month or two, depending on investors’ feedback. Rajiv Anand, MD & CEO, said to be in Singapore currently on roadshows ahead of fund raise.
BUSINESS
Barclays Bank India to remain a wholesale-focused lender, says CEO Pramod Kumar
Barclays Bank India CEO Pramod Kumar said he is hopeful that the government will address the adverse tax treatment that foreign banks are subjected to, when they choose to operate as a branch in India.
BUSINESS
India will continue to see more inbound and domestic interest: Pramod Kumar, CEO Barclays Bank PLC, India
Kumar says he is clear that while investment banking may be core to what Barclays does in the country, corporate banking is getting built as a pillar of strength for the bank
BANKING
How a Rs 1,00,000 crore fat finger error at Karnataka Bank is drawing RBI’s attention
While the incident occurred on August 8, 2023, it was escalated to the bank’s board much later and has caught the regulator’s attention in the current year’s annual inspection.
BANKING
HDFC Bank’s MFI chief K Venkatesh set to join Spandana Sphoorty as CEO
In April this year, Shalabh Saxena quit the company and stepped down as MD & CEO with immediate effect. Ashish Damani, the then CFO, was elevated as interim CEO.
BANKING
Credit guarantee scheme worth Rs 20,000 crore soon for NBFC-MFIs to ease liquidity crunch
Expected to be announced in the coming weeks, the relief package for NBC-MFIs is aimed at providing liquidity support to the sector.
BUSINESS
Piramal Finance on track to 3% RoA, MD Jairam Sridharan says, as stock begins trading
The MD and CEO of Piramal Finance said the NBFC would start its new innings on the stock exchanges on a clean slate, and is all set to meet the 3 percent RoA target in the coming years.
