Apr 29, 2016 - Govt invites merchant bankers for stake sale in OIL, NFL, RCF

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              from India Finance






Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
It costs a bank Rs 48 to handle a bank premise-based transaction, Rs 18 to handle an ATM transaction and Rs 1 to handle a mobile-based transaction. Banks clearly have an incentive to get people to transact on the mobile phone. Mobile wallet startups like PayTM, given their technology advantage, lack of legacy, and wide network of merchants and consumers, are well positioned to overtake traditional banks when it comes to mobile transactions. RBI's Unified Payment Interface (UPI) promises to make it easier for consumers to use their mobile phone to transact with merchants. Add in the PM's Jan Dhan Yojana and India has an opportunity to get the 200 million plus unbanked into the banking system - through the mobile phone! How quickly we move to a cashless economy will depend on ease of use (still some work to be done here) and marketing and communication that informs and builds trust - Comment

JPMorgan’s Kalpana Morparia set to retire, Leo Puri to take over

Kalpana Morparia will stay on with the bank till the end of Q1FY21 and oversee her succession.Leo Puri, who was the managing director and chief executive of UTI Mutual Fund, will take charge as the new chairman of South and Southeast Asia of JPMorgan

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Amidst liquidity crunch due to Covid, businesses face risk of frauds, round tripping and evergreening of loans: PwC report

Unstable cashflows and low reserves, coupled with a restricted ability to seek additional debt or equity financing, can create immense pressure on businesses to divert funds between entities for non-permissible or surreptitious purposes, said the PwC report titled ‘Rethinking Fraud and Economic Crime.

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India steps on the gas to set up World Solar Bank, may take up 30% equity

Setting up the WSB may require a total equity of $10 billion with a paid-up capital of $2 billion.International Solar Alliance's goal includes mobilizing $1 trillion and reducing the cost of finance and technology

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NCLT approves IL FS stake sale in GIFTCL to Gujarat government

The order said that IL&FS had sought that an amount of Rs 61.84 lakh is excluded as resolution process costs incurred for meeting various expenditures, other applicable taxes from the sale proceeds of the applicant's shareholding in GIFTCL to the Gujarat government.

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10-15% moderation in salaries not to impact lending practice: HDFC Bank

A pent-up demand for vehicles and social distancing needs, coupled with the introduction of digital inputs to manage customer journey by banks will lead to a faster uptick in auto sales, which were sagging before the lockdown and came to a standstill in the last two months, the bank's country head for retail lending Arvind Kapil said.

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Kotak Bank launches its Rs 7,500 crore QIP

India Business News: Kotak Mahindra Bank on Tuesday launched its qualified institutional placement (QIP) plan to raise about Rs 7,600 crore at a floor price of Rs 1,148 pe

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SBI to automatically extend moratorium by another three months

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Falling promoter equity may throw a spanner in loan recast of companies

Fitch Ratings says where banks have to take both the capital and credit risk, they will not be as motivated to lend compared to guaranteed loans where both risks are transferred to the guarantor.Analysts believe that the ability of the Indian financial system has been curtailed

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Indian gaming industry attracted $350M VC investments between 2014-2020: report

The report titled 'Gaming India Story' said the Indian gaming industry, over the next four years, is expected to hit a valuation of $3.75 billion. It's currently valued at $930 million.

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Indian Turbine Maker Suzlon Seeks Looser Terms on Debt Deal

The firm is asking its lenders to accept new convertible debt in place of interest payments due this quarter on its loans.

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U GRO Capital partners with GVCP to enhance impact financing for small businesses

The partnership between U GRO Capital and GVCP is expected to create a strong financial platform for small and medium businesses in the country.

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India: Co-working space operator Awfis raises $5.3m in fresh funding

Before the COVID-19 pandemic, the company had indicated its plans to set up centres in smaller cities.

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Axis Bank ends 13% higher on reports of $1 bln capital raising plan

The ET on Wednesday reported that private equity major Carlyle is in talks with Axis Bank to pump in around a billion dollars in the lender

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BofA Securities Sees Covid-19 Setting Off These Structural Changes In India

Covid-19 crisis could lead to consolidation of firms, formalisation of jobs and local manufacturing in India, BofA Securities said

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Combating economic downturn post Covid-19 pandemic: Sync trade and FDI policies

Revise the existing institutional mechanisms for trade and investment policymaking to make policies more coherent and inclusive

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What does a GDP contraction in FY 2020-21 entail for India?

Statistically speaking, it means that the 2020-21 GDP will be less than what it was in 2019-20. This does not tell us much about its real-life implications which depend on the sector-wise and distributive impact of the contraction.

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Ola Financial gets Rs 205 crore from Falcon Edge, Matrix Partners

Apoletto Managers, and Arun Sarin's family office also participated in the round. This deal closed at a valuation of $250 million, according to two people directly aware of the matter.

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India's GDP growth may rebound to 5 pc in FY22, says Duvvuri Subbarao

Indian economy may expand by around 5% in the next financial year,ex-RBI guv Duvvuri Subbarao said.

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India initiates anti-dumping probe into imports of polyester yarn from 4 countries

The probe was launched following a complaint by eight domestic manufacturers, including Suryalakshmi Cotton Mills and Suryalata Spinning Mills.

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