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RBS confirms exit of retail banking branches in India
RBS confirms exit of retail banking branches in India - Economic Times
The bank added that it will support its customers and employees through the transition and ensure least possible disruptions.


'Brexit' can open up opportunities for India: Report
'Brexit' can open up opportunities for India: Report - Economic Times
According to the report, Brexit may actually strengthen India's position as a truncated EU may have to rework its negotiation strategy to gain market access.


LIC's Gulf arm tops overseas chart, chips in with 80% income
LIC's Gulf arm tops overseas chart, chips in with 80% income - Economic Times
The Bahrain-headquartered LIC International is present in five Gulf Cooperation Council (GCC) countries of Bahrain, Dubai, Kuwait, Oman and Qatar.


Haldiram's in talks with PEs to sell stake, may raise $200m
Haldiram's in talks with PEs to sell stake, may raise $200m - Times of India
In what may be one of the most anticipated investment deals in the Indian consumer market, snack-food manufacturer Haldiram

What Bankruptcy Bill is all about?
What Bankruptcy Bill is all about? - Economic Times
A few weeks ago, the Parliament passed the Bill paving its enactment. This is particularly useful when lenders struggle to recover their loan dues.


SBI puts its 5% stake in NSE up for sale
SBI puts its 5% stake in NSE up for sale - Livemint
Stake sale, seen as part of a strategy to exit non-core businesses, could fetch the bank around Rs900 crore


LIC hikes stake in Tata Motors to over 7%
LIC hikes stake in Tata Motors to over 7% - Livemint
LIC increased its shareholding in Tata Motors from 4.91% to 7.01% via purchase of shares between January 2013 and May 2016


Kotak Mahindra Prime to raise Rs400 crore via NCDs
Kotak Mahindra Prime to raise Rs400 crore via NCDs - Livemint
Kotak Mahindra Prime says it intends to issue secured, non-convertible debentures of the face value of Rs10,00,000 each


Hewlett Packard Enterprise makes a $100 million bet on startups
Hewlett Packard Enterprise makes a $100 million bet on startups - Livemint
The company might invest $5 million to $10 million in an expansion-stage round

PurpleHealth raises $100,000 from Katabole Technology Venture
PurpleHealth raises $100,000 from Katabole Technology Venture - Livemint
Firm will use the funding to further build on the PurpleHealth.com product road map and strengthen the team


Government to ask UCO Bank and two other public sector banks to merge with bigger peers
Government to ask UCO Bank and two other public sector banks to merge with bigger peers - Economic Times
The merger decision is exploratory at this stage and there is no certainty about the completion of the acquisitions, SBI said in a filing to the stock exchanges.


Srei Infrastructure Finance plans to sell non-core ventures
Srei Infrastructure Finance plans to sell non-core ventures - Livemint
Srei is looking to sell its stake in at least two ventures, Bharat Road Network, and Sahaj e-Village


Equity market brokers continue to feel the revenue pinch
Equity market brokers continue to feel the revenue pinch - Economic Times
Local credit ratings firm ICRA estimates that broking revenue has declined 7-8 per cent in the year ended March 31, 2016


Small-ticket investments by private equity firms gaining traction
Small-ticket investments by private equity firms gaining traction - Hindu Business Line
Several PE firms are making small ticket investments anywhere between ?10 crore and ?60 crore using structures such as mezzanine funds and even non-convertible debentures


SBI associates staff oppose merger, threaten strike
SBI associates staff oppose merger, threaten strike - Times of India
SBI, associates begin talks for a merger which would create an entity with a balance sheet of Rs37 trillion


Anand Mahindra sees Narendra Modi sparking potential in India economy
Anand Mahindra sees Narendra Modi sparking potential in India economy - Livemint
Anand Mahindra, chairman of Mahindra Group, says that India, long

Ajay Piramal, Shriram Group plan to combine finance businesses
Ajay Piramal, Shriram Group plan to combine finance businesses - Economic Times
A merger will create one of the biggest financial services companies in India, with a presence in both institutional and retail business, apart from insurance and mutual funds.


Why SBI's mega merger with associate banks might be very bad idea
Why SBI's mega merger with associate banks might be very bad idea - Economic Times
"Merger is not going to solve anything at all. They had merged two of their associates banks in 2008 and 2010. They clearly did not see too much of a benefit from it."


PNB tops list of worst losses in Indian banking history
PNB tops list of worst losses in Indian banking history - Livemint
Punjab National Bank (PNB) reported a loss of Rs5,367 crore, the largest-ever loss reported by an Indian lender based on available data


As lure of foreign investment banks decline, banking executives move to India
As lure of foreign investment banks decline, banking executives move to India - Economic Times
Jaspal Bindra gave up his job as Standard Chartereds Asia head to join Mumbai-based financial services firm Centrum as its executive chairman.


You can avail tax benefit on home loan for second property
You can avail tax benefit on home loan for second property - Livemint
With respect to interest on the loan, the quantum of deduction would depend upon whether the second residential property against which the home loan would be availed would be considered as a self occupied property (SOP) or let out property (LOP) or deemed to be let out (DLOP)


How the presumptive tax scheme helps you
How the presumptive tax scheme helps you - Livemint
Professionals now have to spend less effort to estimate the year

LIC eyes to double policy sales at 4 crore; intends to hire 2 lakh agents
LIC eyes to double policy sales at 4 crore; intends to hire 2 lakh agents - Economic Times
Fiscal 2014-15 to show positive results, on that basis LIC has shown 24.74 per cent growth in first year premium and 1.86 per cent growth in policies.


Ujjivan to invest Rs 300 crore in IT for proposed small finance bank
Ujjivan to invest Rs 300 crore in IT for proposed small finance bank - Economic Times
Ujjivan has appointed Wipro as the Systems Integrators to implement different Banking Technology Systems for its proposed banking operations.




Syndicate Bank to raise Rs 4,300 crore this fiscal
Syndicate Bank to raise Rs 4,300 crore this fiscal - Economic Times
Additionally, Rs 1,600 crore will also be raised by issuing tier-II bonds at an appropriate time during the financial year 2016-17, it added.


Restricting lending limits for large borrowers "laudable": SBI
Restricting lending limits for large borrowers
Restricting lending limits for large borrowers will clearly help the banks to reduce their NPA levels going forward, an SBI research report has said.


Allianz may end tie-up with Bajaj Finserv over stake row
Allianz may end tie-up with Bajaj Finserv over stake row - Economic Times
"Bajaj has had a meeting with IRDA (Insurance Regulatory and Development Authority) on the differences with Allianz," said an IRDA official.


BP sells an 11.5% stake in Castrol India
BP sells an 11.5% stake in Castrol India - Livemint
Home Page>CastrolBP BP sold 56.8 million Castrol India shares at an average price of Rs365, valuing the deal at Rs2,075 crore


The risks of creating giant banks
The risks of creating giant banks - Livemint
The merger of SBI with its associate banks runs counter to 2008

Strong business model, financials help NBCC emerge a winner
Strong business model, financials help NBCC emerge a winner - Economic Times
Co plans to increase its revenue share from redevelopment segment; Public Works Organisation status keeps the co debt-free & cash-rich.


Indian banking's Houdini act
Indian banking's Houdini act - Livemint
Of the 29 banks which have reported their earnings, public sector banks have seen a 73% increase in gross NPAs over these two quarters, while private sector banks have seen a 45% increase


What start-ups can learn from the Fintech meltdown
What start-ups can learn from the Fintech meltdown - Livemint
Smart entrepreneurs will do well to understand the depth of the recent issues in the Fintech space



Paytm says it has enough funds for five years
Paytm says it has enough funds for five years - Livemint
We have enough money in the bank to last 21 quarters if we keep spending at the same rate as last year, says Vijay Shekhar Sharma, CEO of One97 that owns Paytm


US fund Proterra Investment in talks to sell Dodla Dairy stake
US fund Proterra Investment in talks to sell Dodla Dairy stake - Livemint
Proterra eyes valuation of Rs250-300 crore; firm

Sebi asks RattanIndia to revise open offer price
Sebi asks RattanIndia to revise open offer price - Economic Times
The company has been further informed that the Honble SAT vide its order dated May 11, 2016, has granted the acquirers relief.


SBI consolidation is Centre's policy, need global-sized institutions: FM Jaitley
SBI consolidation is Centre's policy, need global-sized institutions: FM Jaitley - Economic Times
According to SBI Chairman Arundhati Bhattacharya, with the merger, the balance-sheet size of the bank will soar to Rs 37 lakh crore, from Rs 28 lakh crore currently.


Oil rises to seven-month high as supply losses tame surplus
Oil rises to seven-month high as supply losses tame surplus - Livemint
Oil prices have advanced more than 80% from a 12-year low earlier this year on signs the global glut will ease as US production declines


HSBC to close nearly half its India branches, focus on digital banking
HSBC to close nearly half its India branches, focus on digital banking - Livemint
About 300 employees might be hit by closure of 24 branches




Capital gains for equity MFs held for over a year tax exempt
Capital gains for equity MFs held for over a year tax exempt - Livemint
For Indian citizens, 60 days is extended to 182 days in the FY if the person is a crew member of an Indian ship, or leaving India for the purpose of employment outside India


India's growing consumer market may steal China's thunder: Beijing media
India's growing consumer market may steal China's thunder: Beijing media - Economic Times
Before this much-anticipated tour of India by Tim Cook, some major Apple suppliers such as Foxconn had also announced plans to expand their business in India.


Evergreening by private sector banks
Evergreening by private sector banks - Livemint
The banks have a potential incentive to evergreen assets so that provisions do not dent profitability


Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
This article is an eye-opener on extreme poverty in the US. There are over a million American families that earn less than $2 a day. They have little to no cash income and survive on food stamps, private charity and plasma sales (which leaves them physically debilitated). They are not on drugs or mentally challenged, just families where members have been left out of the capitalist success that many others enjoy. Many are uneducated and are at the back of the low-wage job queue, some jobs that render them unfit through physical hardship, creating a vicious cycle of sorts - Comment

Time to think of policy on dealing with bank failures: Uday Kotak
Time to think of policy on dealing with bank failures: Uday Kotak
The comments from Uday Kotak come at a time when 20 new payments banks and small finance banks are on their way to enter the system.


India Post goes high-tech, geo-tags post offices on Bhuvan
India Post goes high-tech, geo-tags post offices on Bhuvan - Economic Times
Bhuvan, developed by Indian Space Research Organisation (ISRO), is providing visualisation services and earth observation data to users in public domain.


IndoStar Capital Finance to focus on SME lending, eyes Rs 1,200-crore loan book
IndoStar Capital Finance to focus on SME lending, eyes Rs 1,200-crore loan book - Economic Times
The company entered SME sector in April 2015, with a focus on lending to businessmen and professionals like lawyers, architects, doctors and CAs.


Sebi planning to tighten listing norms
Sebi planning to tighten listing norms - Livemint
Sebi plans to attach bank accounts and properties of promoters who repeatedly flout listing and disclosure norms and fail to take corrective steps


Have enough minefields to deal with: Raghuram Rajan
Have enough minefields to deal with: Raghuram Rajan - Livemint
Reserve Bank of India governor Raghuram Rajan says a large number of experts are talking about Brexit and they will be able to reach a decision


Arun Jaitley says investors making money must pay taxes
Arun Jaitley says investors making money must pay taxes - Livemint
Finance minister says a tax-incentivized route is no longer needed to attract FDI to a

IL FS Transportation: is there a silver lining to the cloud of debt?
IL FS Transportation: is there a silver lining to the cloud of debt? - Livemint
What will work in favour of IL&FS Transportation is strong revenue traction as projects are due to get commissioned, easing cash flows over next 12 months


Sebi readies dividend distribution policy for top 500 firms
Sebi readies dividend distribution policy for top 500 firms - Economic Times
The new regulatory framework will be applicable to the top 500 listed companies based on their market valuation initially and would be later expanded to others.


Amid digital focus, HDFC Bank, Yes Bank and others may add 1,500 branches
Amid digital focus, HDFC Bank, Yes Bank and others may add 1,500 branches - Economic Times
Four large private lenders may add about 1,500 branches between them, growing their physical presence by a tenth this fiscal.


CCI clears Sanlam's stake buy in Shriram Group's insurance firms
CCI clears Sanlam's stake buy in Shriram Group's insurance firms - Economic Times
Clearing the deal, CCI said "the proposed combination is not likely to have an appreciable adverse effect on competition in India".


Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Some students at Georgia Tech nominated Jill Watson as 'Outstanding Teaching Assistant' this spring, which was music to the ears of computer science professor, Ashok Goel. The students weren't aware, but Jill was an artificial intelligence bot. Now Goel is forming a business to bring the chatbot to the wider world of education. While he doesn't foresee the chatbot replacing teaching assistants or professors, he expects the chatbot's question-answering abilities to be an invaluable asset for massive online open courses, where students often drop out and generally don't receive the chance to engage with a human instructor. With more human-like interaction, Goel expects online learning could become more appealing to students and lead to better educational outcomes

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.

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
More data is often not the answer. You are already measuring what can be measured. How do you separate the signal from the noise (and there's a lot of noise)? The answer to that question might get you the real insights. More importantly, as Seth Godin says here, data does not get you different. Data gives you the lazy way to get what's next. Real long-term change means rising above the data.

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
I had to read this news (related to student suicides in Kota) a couple of times to see if I was missing something - The IIT entrance examination is tough, and requires more than just proficiency with the Class XII syllabus. That prompts students to take up coaching classes, Irani explained. To address that, "for the first time, the government, in conjunction with the IIT Council, will ensure that the question papers (of JEE) conform to Standard XII syllabus". "If degree-level questions are asked, we cannot expect a school student to answer," the minister added. She said the present system was encouraging students of various school boards to go to places such as Kota "to get that knowledge". So, the minister believes making an entrance examination dumber (one of the few that actually works well) is the solution to student suicides! Wow!

How to kill a bank in India
How to kill a bank in India - Livemint
The story of IDBI Bank: from struggles to become a bank and competition from public-turned-private peers to calls for privatization and an identity crisis today


A lot of midcap companies have surprised on earnings growth: Big Bull Jhunjhunwala
A lot of midcap companies have surprised on earnings growth: Big Bull Jhunjhunwala - Economic Times
"Once Indian cos get volume, you will be surprised at the growth in earnings . Wherever there is volume growth, there is a disproportionate growth in profits."


As funding slows, start-ups turn to investment banks
As funding slows, start-ups turn to investment banks - Livemint
Most of the aggressive investors have either gone slow or have exited the market, prompting start-ups to reach a wider network of investors through bankers


Narendra Modi govt eases red tape but foreign firms still struggle
Narendra Modi govt eases red tape but foreign firms still struggle - Livemint
Despite statements made by PM Modi and other senior Indian officials there has been limited progress in many key areas that make it challenging to do business in India, an industry group says


Major foreign investors like JPMorgan, HSBC, Goldman okay with Sebi proposal for tightening P-Note rules
Major foreign investors like JPMorgan, HSBC, Goldman okay with Sebi proposal for tightening P-Note rules - Economic Times
As part of an analysis conducted by Sebi Cayman Islands is followed by Mauritius as the second-biggest location for end-beneficial owners of ODIs.


RBI's relaxation of rules may broaden shareholder base for private banks
RBI's relaxation of rules may broaden shareholder base for private banks - Economic Times
Foreign institutions that hold 5% or less in private sector lenders have already started thinking about raising their stakes, said two executives with knowledge of the matter.


Exceptional income will be used for provisioning: PS Jayakumar, Bank of Baroda
Exceptional income will be used for provisioning: PS Jayakumar, Bank of Baroda - Economic Times
"When we re-evaluated the situation we felt that additional provisions were necessary. Analysts reports that have come subsequent to Q3 have talked of adjusted book value."


RBI seeks market feedback on allowing FPIs in unlisted corp bonds
RBI seeks market feedback on allowing FPIs in unlisted corp bonds - Economic Times
Relaxation should come with a caveat as borrowing companies cannot use such bond proceeds for real estate activities, purchase of land, investing in capital market or on-lending to others.


Paytm hires 2 Citi executives for its payments bank
Paytm hires 2 Citi executives for its payments bank - Times of India
The payments bank first appointed CEO Shinjini Kumar from research and consultancy firm PricewaterhouseCoopers (PwC) in February, followed by Vikas Purohit from Amazon.


SBI merger: India may soon have a global Top 50 bank
SBI merger: India may soon have a global Top 50 bank - Livemint
After over five years of hiatus, associate banks of SBI including State Bank of Bikaner and Jaipur have proposed to merger with the parent lender. The respective boards have proposed merger with th


Debt Recovery Tribunal directs JP Morgan not to disburse $40 mn to Vijay Mallya
Debt Recovery Tribunal directs JP Morgan not to disburse $40 mn to Vijay Mallya - Livemint
Bankers asked to take appropriate action to prevent Vijay Mallya from receiving the amount, directed the bank to submit his New York account statements


Payments and settlements in India moving towards electronic mode with more e-payments
Payments and settlements in India moving towards electronic mode with more e-payments - Economic Times
With the spread of banking habits, more and more cash in banks is also being withdrawn as and when required as is evident in the growth of ATM transactions.


Banks seek government's protection to strike deal with Vijay Mallya on loan default
Banks seek government's protection to strike deal with Vijay Mallya on loan default - Economic Times
Mallya had offered to deposit Rs 6,868 crore to the Supreme Court, but the proposal was rejected by lenders as banks demand no less than Rs 9,000 crore.


Manappuram Finance plans co-branded debit card to expand gold loan business
Manappuram Finance plans co-branded debit card to expand gold loan business - Economic Times
The Kerala-based diversified NBFC had reported a net profit of 30 per cent at Rs 353.36 crore for fiscal 2015-16.


Confident of Sebi approval, RBL Bank targets July IPO
Confident of Sebi approval, RBL Bank targets July IPO - Livemint
RBL Bank is currently working under Sebi

Sebi orders impounding Rs 5 crore in SMS-based investment scam
Sebi orders impounding Rs 5 crore in SMS-based investment scam - Economic Times
Markets watchdog Sebi today ordered impounding unlawful gains of over Rs 5 crore from two individuals and their associated firms.


The steady rise of MNCs
The steady rise of MNCs - Livemint
MNCs should plan for a rate of growth over the next 20-25 years higher than that achieved over the past 25 years


No free ride for investing in India through quasi equity investments under India-Mauritius pact
No free ride for investing in India through quasi equity investments under India-Mauritius pact - Economic Times
Those holding such instruments would do well to convert them into shares before April 1, 2017, to enjoy the exemption on capital gains tax.



Private equity fund ASK real estate exits ATS Project in Gurgaon at 25% IRR
Private equity fund ASK real estate exits ATS Project in Gurgaon at 25% IRR - Economic Times
Getamber Anand, managing director of ATS Infrastructures said that in the current market there is demand but the market is in turmoil.



HCC shelves Lavasa IPO plan for third time
HCC shelves Lavasa IPO plan for third time - Livemint
Sebi approval for the IPO of Lavasa lapsed last November and since the market was not conducive HCC did not proceed with it, CFO Praveen Sood said


DBS Bank to set up offshore tech hub in Hyderabad
DBS Bank to set up offshore tech hub in Hyderabad - Economic Times
It has created a wholly-owned subsidiary -- DBS Asia Hub 2 -- for this purpose and according to a filing with the exchanges, the initial and paid-up capital for the same stands at Rs 70.5 crore.


Bandhan Bank sold Rs 3,200 crore priority loans to bigger lenders
Bandhan Bank sold Rs 3,200 crore priority loans to bigger lenders - Economic Times
The Kolkata-based lender said it gross advances was Rs 15,500 crore at the end of March while deposits was Rs 12,088 crore.


PayU India, Paytm get in-principle approvals for consumer bill payment services
PayU India, Paytm get in-principle approvals for consumer bill payment services - Economic Times
Consumers will be able to pay all their bills anytime and anywhere under the Bharat Bill Payment System (BBPS), and the companies will provide platforms to offer these services.


Returns from IPOs on listing day in decline
Returns from IPOs on listing day in decline - Livemint
Investment in any IPO in the last decade and half would have given positive returns on listing day in three out of four cases, but such gains are no longer the norm


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