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Uday Kotak sole Indian financier in Forbes' most powerful list
Uday Kotak sole Indian financier in Forbes' most powerful list - Business Standard
Kotak Mahindra Bank Chief Uday Kotak, who has a net worth of about USD 7.1 billion, is the sole Indian in Forbes' list of 40 of the most powerful people in the financial world who control the flow of trillions of dollars around the global


RBI may allow you to be a lender
RBI may allow you to be a lender - Economic Times
The RBI's move to regulate the peer-to-peer (P2P) lending business has evoked good response with most participants saying that it could provide greater confidence to lenders and borrowers, as also to venture capitalists.


India's bad loan worth may be bigger than New Zealand's $170-bn economy
India's bad loan worth may be bigger than New Zealand's $170-bn economy - Economic Times
Government has vowed to restore health of its state-owned banks amid warnings that mountain of debt is threat to India


FCNR maturities may force banks to delay interest rate cuts
FCNR maturities may force banks to delay interest rate cuts - Economic Times
The Reserve Bank of India may face serious challenge from the softer interest rate regime when it comes to managing cash or liquidity in the system.


Exercise caution while giving loans to discoms: RBI to banks
Exercise caution while giving loans to discoms: RBI to banks - Economic Times
RBI has also directed banks to categorise existing loans to discoms as non-performing assets, or bad loans, which attract provisioning.


Fresh capital to PSU banks to be linked to performance: Finance ministry
Fresh capital to PSU banks to be linked to performance: Finance ministry - Economic Times
Fresh capital to PSU banks will be linked to their performance

Zenify raises Rs6 crore from high networth individuals
Zenify raises Rs6 crore from high networth individuals - Livemint
Zenify will use the funds to expand its range of services across major cities in India and strengthen its team


Credibility low as bankers have cried wolf too often: Raghuram Rajan
Credibility low as bankers have cried wolf too often: Raghuram Rajan - The Indian Express
Rajan, who has also served as Chief Economist at the IMF, said the greater demand on banks to hold capital in the post-financial crisis scenario has come at a cost.




Paytm to launch vehicle financing and insurance
Paytm to launch vehicle financing and insurance - Economic Times
Paytm sold over 1000 bikes in the month of April this year, contributing to 5% of Hero Electrics pan India total monthly sales.



Any merger initiative has to come from board of banks: Jayant Sinha
Any merger initiative has to come from board of banks: Jayant Sinha - Economic Times
The role of the government or the Reserve Bank of India in the merger of banks would be that of a facilitator, Minister of State for Finance said.


Blackmoney: Govt unearths indirect tax evasion of Rs 50000 crore in two years
Blackmoney: Govt unearths indirect tax evasion of Rs 50000 crore in two years - The Indian Express
Finance Ministry said the crackdown on black money has led to seizing of Rs 3,963 crore of smuggled goods in two years.


Just ahead of IPO, Saudi Aramco looks to tap India
Just ahead of IPO, Saudi Aramco looks to tap India - Economic Times
A presentation by the company showed the complex would create 80K jobs and allow Saudi Arabia to reduce its imports by $12 bln and increase GDP by $17 bln.


From Anshu Jain to Jaspal Bindra, top finance executives turn to Indian NBFCs
From Anshu Jain to Jaspal Bindra, top finance executives turn to Indian NBFCs - Livemint
Well respected Indians in the global financial world continue to come back to their home turf, lured by the growth rate of India and also to tap a market which is familiar and vast enough to accommodate more. After Citibank's Vikram Pandit, Standard


Why Raghuram Rajan is right on helicopter money
Why Raghuram Rajan is right on helicopter money - Livemint
If governments get a licence to expand spending, it may be difficult to stop them which can have damaging consequences in the long run


Kotak Mahindra announces rise in earnings, becomes 2nd most valued private bank
Kotak Mahindra announces rise in earnings, becomes 2nd most valued private bank - Economic Times
The private lender which recently toppled ICICI Bank to emerge as Indias 2nd most valued private bank reported a 32% rise in its net profit for the quarter ended March 2016.


Raghuram Rajan's bank headache seen lingering as ICICI sparks debt angst
Raghuram Rajan's bank headache seen lingering as ICICI sparks debt angst - Livemint
Retail lending was hardly a focus for Indian banks until a few years ago, except for some private lenders, but fiscal 2016 was different.


Finance min rubs it in after Ramesh calls Swamy 'outstanding economist'
Finance min rubs it in after Ramesh calls Swamy 'outstanding economist' - Hindustan Times
Congress leader Jairam Ramesh scored a self-goal in the Rajya Sabha on Wednesday when he sought to take a dig at finance minister Arun Jaitley over GDP figures, advising him to consult


Brexit could open up opportunities for India: SBI report
Brexit could open up opportunities for India: SBI report - Economic Times
Britains exit from the European Union may upset equations within the Eurozone, but at the same time, it could throw up a lot of opportunities for India.


PEs, VCs may eye new tax havens like Sweden and Cyprus as government tweaks Mauritius pact
PEs, VCs may eye new tax havens like Sweden and Cyprus as government tweaks Mauritius pact - Economic Times
They may take a close look at the special purpose vehicles that carry the investments as there are fears that all such tax treaties may be amended.


What the India-Mauritius deal means for private equity
What the India-Mauritius deal means for private equity - Livemint
With the new tax pact with Mauritius that will also apply to Singapore, the number of private market exits could see a sharp fall for private equity funds after March 2017 when it comes into effect.


Policy making easy, political acceptance tougher part: Raghuram Rajan
Policy making easy, political acceptance tougher part: Raghuram Rajan - The Indian Express
Raghuram Rajan has said complexities arise when ensuring its political acceptance and one needs to be "a little more clever" for that.


What it means to be financially literate
What it means to be financially literate - Livemint
Conservatism, realism, control. These are things

Soon, large companies may have to pay more for borrowing
Soon, large companies may have to pay more for borrowing - Livemint
RBI proposes that banks make additional provisions, put aside extra capital when companies borrow more than a certain amount


The Reserve Bank India allows foreign banks to invest up to 10% in local private lenders
The Reserve Bank India allows foreign banks to invest up to 10% in local private lenders - Economic Times
RBI allowed foreign banks to invest up to 10% in local private lenders and supranational institutions such as Life Insurance Corporation of India to take this to as much as 40%.


Capital Float raises $25 million from Creation Investments, others
Capital Float raises $25 million from Creation Investments, others - Economic Times
The Series B financing also saw "significant participation" from existing investors like SAIF Partners, Sequoia India and Aspada, Capital Float said in a statement.


Unacademy raises $500,000 from Blume Ventures, others
Unacademy raises $500,000 from Blume Ventures, others - Livemint
Unacademy, a start-up that offers free video courses, raised $500,000 to develop its product


Nissan buys $2.2 billion stake in Mitsubishi Motors
Nissan buys $2.2 billion stake in Mitsubishi Motors - Livemint
Mitsubishi Motors will sell about

Bankruptcy code in place, but two related laws yet to be amended
Bankruptcy code in place, but two related laws yet to be amended - Livemint
DRT, Sarfaesi tweaks put on hold; these, along with bankruptcy code, were expected to ease concern over non-performing assets


Singapore's DBS offers 7% rate on digital bank accounts
Singapore's DBS offers 7% rate on digital bank accounts - Economic Times
The reason why DBS is going full steam in India even as other multinationals are being cautious on retail is that DBS is primarily an Asian bank.


Axis Bank elevates executives to board; chairman no longer SUUTI nominated
Axis Bank elevates executives to board; chairman no longer SUUTI nominated - Economic Times
Rajesh Dahiya, group executive and head of the banks corporate centre will now join the board as executive director, corporate centre.


For some companies, every drop is starting to matter
For some companies, every drop is starting to matter - Livemint
Given the business risk water depletion poses to them, corporate entities have begun acting to save water


Do Reserve Bank governors need a longer term?
Do Reserve Bank governors need a longer term? - Livemint
What can you really achieve in three years in a country like India where it takes time to get things done?


Beef ban hurting India's economy, says industrialist Adi Godrej
Beef ban hurting India's economy, says industrialist Adi Godrej - Deccan Chronicle
Clever democratic leaders make sure disadvantages are minimised, advantages maximised, says Godrej chairman.


Rising corporate loan defaults force banks like ICICI Bank and Axis Bank to step up retail lending
Rising corporate loan defaults force banks like ICICI Bank and Axis Bank to step up retail lending - Economic Times
Retail lending was hardly a focus for Indian banks until a few years ago, except for some private lenders, but fiscal 2016 was different.


Financial inclusion gets a boost with Jan Dhan Yojana
Financial inclusion gets a boost with Jan Dhan Yojana - Economic Times
One of the successful initiatives of the NDA government is its financial inclusion initiative through its Prime Ministers Jan Dhan Yojana, or PMJDY.


Curbing black money: Government plans to promote cashless economy
Curbing black money: Government plans to promote cashless economy - Livemint
The government is looking at a slew of measures to promote cashless economy, including creating an ecosystem to incentivise cashless transactions.


Banking: where angels fear to tread
Banking: where angels fear to tread - Livemint
While many stocks are trading below their book value and appear ripe for the picking, a prudent investor should consider the following things


Wallet companies like Citrus Pay,PayWorld launches new products
Wallet companies like Citrus Pay,PayWorld launches new products - Economic Times
Lazy Pay is yet another payments option which goes beyond cards, wallets and net banking for select Citrus wallet customers.


Before you start investing, understand your risk profile
Before you start investing, understand your risk profile - Livemint
Risk appetite is more about understanding your actions in times of adverse situation


Why China is prone to bubbles
Why China is prone to bubbles - Livemint
The issue is surplus liquidity

Finance Ministry seeks access to big borrowers' database, RBI denies permission
Finance Ministry seeks access to big borrowers' database, RBI denies permission - Economic Times
If RBI agrees to FinMins request, the government will get details of all loans taken by large borrowers across banks as well as their credit rating.


Centre plans indemnity for bankers to tackle bad loan menace
Centre plans indemnity for bankers to tackle bad loan menace - The Indian Express
FinMin seeks views on setting up external committee to approve one-time NPA settlement applications of PSBs.


Former Deutsche Bank co-chief Anshu Jain, ex-colleague Bhupinder Singh to launch NBFC in India
Former Deutsche Bank co-chief Anshu Jain, ex-colleague Bhupinder Singh to launch NBFC in India - Economic Times
The NBFC will lend to individuals, SMEs and entrepreneurs, and may be modelled on San Francisco-based fintech startup SoFi to which Jain is an adviser.


Stressed asset specialists queue up for RBI licences to start ARCs
Stressed asset specialists queue up for RBI licences to start ARCs - Livemint
PE firm JC Flowers, IIFL Holdings among a dozen entities who have applied for an ARC licence


Sebi plans to ease funding, listing norms for start-ups
Sebi plans to ease funding, listing norms for start-ups - Livemint
A revamp of the listing, fundraising norms on the anvil; Sebi to also expand definition of high-tech start-ups


United payments system to make mobile wallets redundant: Report
United payments system to make mobile wallets redundant: Report - Economic Times
UPI does not require a specific bank account unlike existing players which offer the product to only those who have an account with them.


SBI-led banks in search of Rs 20,000 crore borrowed by Alok Industries
SBI-led banks in search of Rs 20,000 crore borrowed by Alok Industries - Economic Times
A forensic audit could not only reveal if there were any instances of fund diversion by the company but also bring out possible lapses, if any, of past audits.


Too much regulation may lead to danger of shadow banking: Raghuram Rajan
Too much regulation may lead to danger of shadow banking: Raghuram Rajan - Economic Times
Rajan said one of the concerns of aggressive monetary policy is that it might encourage depreciation of the exchange rate.


Sebi expands probe into financial dealings of Vijay Mallya firms
Sebi expands probe into financial dealings of Vijay Mallya firms - Livemint
The Securities and Exchange Board of India is looking into violation of securities market regulations including strict disclosure requirements


RBI to make list of wilful defaulters public, says Raghuram Rajan
RBI to make list of wilful defaulters public, says Raghuram Rajan - Livemint
Raghuram Rajan says RBI is creating a structure for an out of court settlement of the disputes relating to bad debts


Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Smart money is not looking so smart right now. Hedge funds in the US have lost 0.4% in the past quarter, while the S&P 500 has returned 1.4%. Even the gold standard of Wall Street, Goldman Sachs, has returned 6.4% on equity, as opposed to the 30% average it delivered before the financial crisis. Debt-fueled risk-taking is being controlled through regulation and hefty asset management fees are being questioned when returns are so low. Outsized fees and wages associated with finance, in turn, could be one of the reasons why overly large financial sectors seem to have a deleterious effect on economic growth. Some theorize that when nosebleed pay packages are the norm in the financial world, it starts to siphon off talented workers who otherwise would have contributed to real economic productivity somewhere else. - Comment

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
While business leaders like Richard Branson and Elon Musk have taken to social media like a duck takes to water, others have not been so successful. Many CEOs still consider it a waste of time, others just don't feel comfortable being themselves online. This article argues that one of the best uses of social media for business leaders is when managing a reputation crisis. People love hearing directly from the CEO, but it should be often and in a way that seems natural, not like a press release. A credible social media voice from the top can also attract talent and customers. And today, we launch our very own social network, focused on news and knowledge - taggit! It's the home for the freshest stories from around the world. Check it out here. Let us know what you think, by emailing us at info@tradebriefs.com - Comment

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
There's a song by Wu Tang Clan called Method Man where one of the methods of torture they talk about is, 'I'm gonna sew your rectum shut and keep feeding you', that's what it's like today to be an LP (the investor class that VCs raise money from). That's not too surprising a take of the current state of the technology market. There have been a fraction of a fraction of the number of technology IPOs the US market typically sees in the first part of the year. That means that liquidity for venture investors - and, in turn, LPs, has started to stall, and that means that LPs might start looking at alternative asset classes - Comment

Knowlarity Communications acquires customer engagement start-up Smartwards
Knowlarity Communications acquires customer engagement start-up Smartwards - Livemint
The founders of Smartwards, Shantanu Mathur and Dhanraj Singh Bisht, will now lead the India operations for Knowlarity


On-tap bank licence: Tough conditions may lead to a lukewarm response
On-tap bank licence: Tough conditions may lead to a lukewarm response - The Indian Express
Reserve Bank of India guidelines for the new on-tap bank licences, experts opine, isn


Yes Bank plans to raise Rs16,500 crore
Yes Bank plans to raise Rs16,500 crore - Livemint
Yes Bank seeks approval for borrowing or raising funds by issue of debt securities up to `10,000 crore to eligible investors on private placement basis


7 NBFCs surrender licence; RBI cancels licence of 4 others
7 NBFCs surrender licence; RBI cancels licence of 4 others - Livemint
Out of the seven firms that returned their licences, six are based in Mumbai and one in Pune


Gold sinks below Rs 30,000 mark, silver down by Rs600
Gold sinks below Rs 30,000 mark, silver down by Rs600 - Livemint
Gold of 99.9 and 99.5% purity tumbled by Rs250 each to Rs29,850 and Rs29,700 per ten grams, respectively


Who benefits the most from tax exemption on long-term capital gains?
Who benefits the most from tax exemption on long-term capital gains? - Livemint
The zero tax on long-term capital gains benefits primarily the very rich


Bank lending to industry at seven-year low
Bank lending to industry at seven-year low - Livemint
While all the incremental bank credit to industry in 2015-16 went to large industries, there was a contraction in credit to micro and small- and medium-sized industries


Enterprising lot: How ex-bankers set up startups like CreditMantri
Enterprising lot: How ex-bankers set up startups like CreditMantri - Economic Times
Some of the bankers are stepping out of the regulated world of banking to challenge, even unsettle, businesses they, as bankers, had once helped to grow.


SBI-led banks in search of Rs 20000 crore borrowed by Alok Industries
SBI-led banks in search of Rs 20000 crore borrowed by Alok Industries - Economic Times
A forensic audit could not only reveal if there were any instances of fund diversion by the company but also bring out possible lapses, if any, of past audits.


Blockchain knocks on doors of Indian banks
Blockchain knocks on doors of Indian banks - Livemint
The decentralised ledger system that blockchain offers can be a faster, cheaper and safer way to transact


RBI fixes foreign holding limits at 49% in Ujjivan Financial Services
RBI fixes foreign holding limits at 49% in Ujjivan Financial Services - Economic Times
The microfinance company recently witnessed robust demand for its recently-concluded IPO. The shares of the company will be listed on the bourses tomorrow.


Fund raising via BSE's SME platform crosses Rs 1,000-crore mark
Fund raising via BSE's SME platform crosses Rs 1,000-crore mark - Economic Times
Out of 136 firms, 18 firms have migrated to the main board platform and currently, there are 118 companies listed on the BSE's SME platform.


Sebi asks Asurre Agrowtech, its directors to refund investors
Sebi asks Asurre Agrowtech, its directors to refund investors - Economic Times
The entities will have to provide a detailed inventory of all their assets and details of all their bank and demat accounts, among others.


NBFCs expand working capital loan business as banks retreat
NBFCs expand working capital loan business as banks retreat - Livemint
Risk-averse banks are declining to offer such loans due to the lack of adequate capital and a rise in bad loans



GMR sells 30% stake in GMR Energy for $300 mn to Tenaga Nasional
GMR sells 30% stake in GMR Energy for $300 mn to Tenaga Nasional - Livemint
Move will lead to a reduction in GMR Infrastructure consolidated corporate debt and result in a stronger balancesheet




Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Imagine a bank heist where the robber takes out a gun, asks the bank staff to put money into a bag, only to be told that they do not have any cash. When the robber looks confused, he is directed to a poster on the wall that proclaims this a "cash-free" location. "It's true," the manager tells him. "Sorry." Well, this is what happened on April 22, 2013 at Stockholm's Ostermalmstorg branch of Skandinaviska Enskilda Banken. Crime is the single most important consideration in the global transition to cashless. The criminal economy depends on the anonymous, untraceable nature of cash. Indeed, much of the cash in the world, maybe most of it, is simply unaccounted for. The World Bank estimates that about a third of the cash in most countries circulates underground, in black markets and through illegal employment. Take it away and thieves have no foolproof way to sell their stolen goods, drug dealers no way to hide their deals. Atleast till a new sophisticated cyber-criminal emerges! - Comment

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