The venture, on the lines of Kishore Biyani's Future Ventures India, will focus its investments in the information technology sector, said a source familiar with the development.
The company is in talks with a few private banks and has signed on Citibank as one of the bankers to raise these funds, said sources. HCL Technologies and Citibank declined to comment saying that 'they do not comment on market speculation'.
Home loan borrowers perpetually worry about the consequences of defaulting. And whether they wish it or not, there could be situations where they are forced to do so. For instance, after the Mumbai bomb blasts on July 11 2006, a large number of affected families found themselves in deep financial trouble leading to difficulties in servicing their home loans
Plans another $1-billion fund, wants to expand core team in India.
With the telecom industry aiming to increase its rural subscribers base and the central bank asking banks and financial firms to cater to the rural sector, businesses will have to find ways of servicing customers, say analysts. Most of the rural BPOs have a seating capacity of below 100 per centre, as they are situated in remote areas.
A slowdown in the global economy and sub-prime crisis in the banking, financial and insurance services sector, its major revenue earners, force the domestic IT industry to take a relook at its hiring strategy.
The figure is expected to rise to over Rs 4,600 crore (Rs 46 billion) by 2010 - a compounded annual growth rate of 44 per cent. Retail has been one of the largest growth sectors for all the top IT firms. For instance, Tata Consultancy Services, Infosys Technologies, Wipro Technologies and Satyam Computer Services saw their retail business grow by 33.6, 45.3, 38.5 and 117 per cent respectively on a year-on-year basis.
Most car buyers, when applying for a loan, grapple with the question of whether they should opt for a fixed or a floating rate option.
"Levi & Korsinsky usually investigates a deal when any of the clients complain about chances of fraud in the transaction. In Aegis's acquisition of PeopleSupport, we received a complaint from a client who is a shareholder of PeopleSupport. After our investigation, if we find any fraud, we will take up the issue before the court. At this point of time, we can not disclose the name of the client," said Juan E Monteverde, associate, Levi & Korsinsky.
While gold index funds have returned almost 10 per cent over the last three months, gold equity funds (investing in mining companies) have not given good returns in the last few months. At present, there are two gold funds, DSPML World Gold Fund and AIG World Gold Fund
Indian IT firms have started mining smaller clients with more fervour given that the revenue accruring from their top clients has been declining due to the US slowdown and the sub-prime crisis. Consider this. Revenue accruing from the top clients of the five leading IT firms by revenue - Tata Consultancy Services, Infosys Technologies, Wipro Technologies, Satyam Computer Services and HCL Technologies - dropped by anywhere between 0.2 per cent and 4 per cent
Stock market investors and potential home buyers may not remember the years 1998 and 2008 too fondly.
Among the many documents that you sign when you take a car loan could also be a 'surrender letter' -- a document that declared you a defaulter even before the loan is sanctioned.
In January this year, the stock market started falling. In the following six months, it has lost over 30 per cent. The data on open-ended equity funds show that only a small cluster has managed to wriggle out with very little loss (See table). From a thematic point of view, only global funds have given returns.
This product was first introduced by ICICI Prudential Mutual Fund (ICICI Prudential FMP Series 33) and Deutsche Mutual Fund in February. Recently, Birla Sun Life Mutual Fund has also floated a similar fund. The Nifty return, multiplied by the participation ratio (that is pre-decided by the fund) is the final returns. In Aviator, the participation ratio is 140-145 per cent, leading to returns of 43.14-44.5 per cent in our given example.
Research firm IDC India estimates the share of virtualised servers in the industry to double from the current 22 per cent to 45 per cent by the year-end.
Consider this. Leading broadcaster Star India's mobile interactive division, Star Mobile Entertainment -- which made some serious headway in the space by launching a service whereby mobile users could opt to view soaps from across Star India's network -- recently reviewed its operational strategy.
Mark-to-market losses due to the unexpected fall of the rupee against the US dollar, euro and pound; the impact of wage increases in the first quarter; a stagnant global economy; and margin pressure owing to inflation are expected to impact the rupee-term fortunes of Indian IT firms that will declare their quarterly results for the April-June 30 quarter beginning this week.
With rising interest rates and inflation taking a toll on home loan customers, banks are beginning to encourage them to partly prepay their loans. Many of them are doing so without charging them prepayment penalty.
Welcome to the world of Vishing or voice phishing, wherein hackers are using a combination of voice over internet protocol, SMSs and the internet to fool and redirect users into dialling a phone number and collect critical information for financial gain. In Kolaskar's case, both mobile spam and vishing were used.
