May 18, 2016 - SBI merger: India may soon have a global Top 50 bank

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              from India Finance






Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
India just doesn't seem to be in the mood to receive charity from Silicon Valley. First, it was the TRAI ruling against Facebook's Free Basics (beautifully covered in this Guardian piece). Then, Apple's proposal to sell refurbished phones in India was rejected by the government. We may be poor, but we have our pride. We are a market of the future (10 years behind China says Tim Cook), and we also have our human capital (especially engineering talent), which is an even more urgent reason for the chiefs of Microsoft and Google (both Indian origin) and now Apple to engage with India.

Goldman Sachs Agrees To Largest Penalty Ever Of $2.9 Billion In 1MDB Scandal

Global financial titan Goldman Sachs agreed to pay $2.9 billion in penalties to settle criminal charges in the 1MDB Malaysian bribery scandal, the largest US fine ever in a corruption case, the Justice Department announced Thursday.



Today's TradeBriefs Cartoon

Inside HDFC Bank’s old-new playbook

Incoming CEO Sashidhar Jagdishan inherits a bank in fine fettle. Where will he take it from here?

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India Has Set Aside $7 Billion to Vaccinate the World’s Second Biggest Population

The Indian government has set aside about Rs 50,000 crore in the current financial year to vaccinate its population.

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Wall Street banks see rare payday bonanza in India despite pandemic

Goldman Sachs said India was an important and growing market for the bank. U.S. and European banks received 41.9 per cent of the total investment banking fees earned in India in the first nine months of 2020.

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The Benefits Of Listing On SME Exchange

In our previous article (Tapping the bourses: The procedure for filing for an IPO with SME exchanges) we discussed the listing requirements for SMEs on the SME Exchanges and also highlighted the importance of ...

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Rise in payment failures puts focus on banking infra overhaul

Instances of failed payment attempts due to network issues on bank’s and NPCI’s servers have been increasing

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India’s smartphone market hits record 50 mn units in Q3 on the back of Chinese brands, suggests new report

This is, however, slightly lower than the June 2020 quarter, when Chinese companies had around 80 per cent cumulative share.

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Reserve Bank bars payment system operators from launching new QR codes

A committee led by Professor Deepak Phatak suggested various measures for moving towards interoperable QR Codes in the next two years.The two interoperable QR codes in existence – UPI QR and Bharat QR – shall continue, the committee advised

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RBI revises rules for housing finance companies

The central bank has prescribed a glide path whereby HFs should constitute atleast 50% of total assets towards housing finance and 40% of total assets towards housing finance for individuals by March 2022.The revision in rules are based on the recommendations made in July this year

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Xander nets 2x returns in exit from Rustomjee projects

Xander’s private equity arm had invested around ₹370 crore in 2014 through non-convertible debentures in Rustomjee-owned Kapstone Constructions Pvt. Ltd, which is building a 127-acre residential township in suburban Thane and another in Juhu

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Exclusive: Cashfree in talks to raise $25 Mn at around $150 Mn valuation

Payment gateway startup Cashfree is in advanced talks to raise a $20-25 million in a fresh round from new and existing backers

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GMM Pfaudler Aims Rs 2,000-Crore Revenue On Group Level In FY21

The guided Ebitda for FY21 is 13% of the top line, says Managing Director Tarak Patel.

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Manufacturing growth puts India among top three emerging economies

Revival in exports and festive cheer have taken India to the third position in the latest update of Mint’s Emerging Markets Tracker

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14 ways to India's economic Big Bang: Arvind Virmani

Virmani lists out 14 major reforms carried out by the Modi government, while also mentioning that six more were pending to be implemented in the current financial year

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Why this analyst has 'sell' rating on HDFC Bank for six years?

HDFC Bank posted profit for the September-ended quarter that beat the average analyst estimate by 17%. Its gross bad-loan ratio narrowed, but that was thanks to regulatory exemptions that make it difficult to read asset quality trends, Pankaj Agarwal said.

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Pricey haircuts seen messing up India’s retail inflation outlook

Services inflation surged to 4.8% in September from a year ago, compared with 4.4% in February before the coronavirus outbreak, according to estimates by Citigroup Inc.

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The lesson South Africa is taking from India to get the economy back on track: Ramaphosa

South Africa’s challenge is not only to recover to pre-pandemic levels of economic activity, but to lift it out of an economic decline that has been several years in the making, says president Cyril Ramaphosa.

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Economy will not revive smartly unless govt puts money in the hands of bottom half of families in India: Chidambaram

Taking a dig at the RBI governor, Sebi chief and DEA secretary who spoke on economic revival, Chidambaram said he wishes economy was a circus lion that responds to ringmaster's stick.

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