Nov 14, 2016 - HDFC Life, Max Financial Services group's mega insurance merger plan hits IRDAI's roadblock

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from India Finance

Sree Vijaykumar

From the Editor's Desk
Most American blue-collar workers have little direct contact with the rich outside of Lifestyles of the Rich and Famous. But professionals order them around every day. The dream is not to become upper-middle-class, with its different food, family, and friendship patterns; the dream is to live in your own class milieu, where you feel comfortable - just with more money. "The main thing is to be independent and give your own orders and not have to take them from anybody else," a machine operator told Lamont. Owning one's own business - that's the goal. That's another part of Trump's appeal. Hillary Clinton, by contrast, epitomizes the dorky arrogance and smugness of the professional elite. The dorkiness: the pantsuits. The arrogance: the email server. The smugness: the basket of deplorables. Worse, her mere presence rubs it in that even women from her class can treat working-class men with disrespect. Look at how she condescends to Trump as unfit to hold the office of the presidency and dismisses his supporters as racist, sexist, homophobic, or xenophobic. More here

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Govt Plans To Float $2 Bn Alternative Investment Fund For Startups

The move is aimed to provide more domestic funding options for the startup community reducing their dependence on foreign private equity players.

One WhatsApp mistake can empty your bank account; SBI makes important announcement

One WhatsApp mistake can empty your bank account; SBI makes important announcement - In order to make customers aware of the banking frauds, India's largest lenderÂ State Bank of IndiaÂ (SBI) took to microblogging site Twitter to highlight a few points to exercise caution and stay vigilant at all times.

Modi govt mustn’t hesitate to make Covid vaccine free for Indians. It only costs Rs 80,000 cr

Serum Institute CEO Adar Poonawalla asked if the government is willing to pay Rs 80,000 crore to vaccinate all Indians. The money isn’t such a big deal.

Global private equity firms scout for mispriced commercial assets in India

As the effects of Covid-19 become clearer and the economic impact more certain, experts believe investors mindsets will shift to exploiting market mispricing opportunistically and positioning for later market cycles in line with global megatrends.

Some developments in Dhanlaxmi Bank warrant immediate corrective steps: AIBOC to RBI

In a letter written to RBI Governor Shaktikanta Das, All India Bank Officers' Confederation (AIBOC) said it is a well-known fact in the banking industry that misplaced priorities and supervisory laxities had wreaked havoc on Dhanlaxmi Bank a decade ago.

Borrowers seeking loan moratoriums rose after June; will be judicious on loan recasts: Axis Bank

"The 9.7 (per cent) was the number as of June 30. Obviously over a period of time some more customers do ask for moratorium, so I can definitely say that the number has gone up a little bit rather than coming down, which has happened for everyone," Chaudhry told in an interview

VG Mathew of South Indian Bank to demit office on September 30

He had led the bank for 6 years

Good news for SMEs! Yes Bank joins hands with BSE to empower small business companies

Yes Bank has signed an Memorandum of Understanding (MoU) with BSE — India’s premier exchange and the world’s fastest Stock Exchange to empower the SME segment.

VG Mathew to retire as MD and CEO of South Indian Bank, Murali Ramakrishnan to succeed

VG Mathew, MD and CEO of South Indian Bank is demitting from the office on September 30 due to his retirement.

India metals tycoon Anil Agarwal seeks $5 bn for turnaround fund: Report

The billionaire is working with London-based Centricus Asset Management Ltd on the fund, which will have a 10-year life span and use a private equity-type strategy

The new bizarro world of SPACs

Private equity firms are creating SPACs — to take private companies public.

Courtesy lending to women aspirants, Avanse raises USD 15 mln

Exclusive: PharmEasy changes internal legal structure, consolidates units for better valuation

The change in legal structure means that API Holdings will also own Ascent Health and Wellness Solutions Pvt.Ltd - a separate pharma supply chain and credit platform, which also acts as a business-to-business (B2B) distribution entity for PharmEasy.

An urbanisation master plan: how to crank up India’s economic engine and improve quality of life

Urbanisation is key to Indias economic growth. While large cities must be centres of innovation, mid-sized cities should specialise in manufacturing and services. This will increase productivity and improve the standard of living. But to achieve this, the country needs a vibrant municipal-bond market, which will help optimise infrastructure investment and empower local administration.

How have Indian businesses been impacted during and after the lockdown?

Covid created various operational and financial challenges for Indian businesses. During the lockdown, approximately 71.31% of the businesses dealt with reduced cash flows with the manufacturing sector being the worst hit. Additionally, delay and cancellation of projects have also been a major cause of concern, especially in the tertiary sectors.

India among worst performing economies in world; stimulus inadequate: Abhijit Banerjee

Abhijit Banerjee, currently a professor at Massachusetts Institute of Technology (MIT), said he does not think that India's economic stimulus was adequate. "India's economic stimulus was limited. It was a bank bailout. I think we could have done more," he said.

India’s ‘shambolic’ central bank delay holds back recovery

The RBI deferred its three-day interest-rate meeting due to start Tuesday, without giving any reasons or a new date for its policy decision.In India, appointments to key positions by the government -- from heads of state-run banks to deputy governors at the RBI -- can be a lengthy process fraught with delays

Bandhan Bank strengthens leadership team, ropes in ex-Bajaj Capital CEO as digital head

It has appointed former Bajaj Capital chief executive Rahul Parikh as the bank's digital head as the bank broadens its digital presence to improve customer services. Earlier in the month, the bank hired ICICI Bank veteran Kumar Ashish as head for “emerging entrepreneurs business" vertical.

From a venture debt fund to a tech-driven financial solutions firm – the journey of Trifecta Capital

Being a venture debt fund for the last five years, Trifecta Capital is now opening its tech expertise to help the startup ecosystem with finance management tools.

Centre’s fiscal deficit may skyrocket to 9% of GDP this year; these twin issues weigh on govt’s coffers

While the budgeted fiscal deficit in the year was Rs 8 lakh crore, an additional deficit of Rs 9.8 lakh crore is projected due to various shortfalls and expenditure.

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