Equitas Small Finance Bank (SFB) Managing Director and CEO P N Vasudevan stated, "We may end up applying within a year" for a universal banking licence, while also targeting a nearly threefold increase in advances to Rs 1.2 trillion over the next five years.
The Reserve Bank of India's 2024 norms for the voluntary conversion of Small Finance Banks (SFBs) into universal banks, particularly the subjective 'diversified loan portfolio' criterion, are proving to be a significant hurdle, with Ujjivan SFB and Jana SFB having their applications returned.
Fino Payments Bank (Fino) has become the first such entity to get an in-principle approval from the Reserve Bank of India (RBI) to transition into a small finance bank (SFB).
Pushpal Shinde now earns some Rs 50,000 a month.
Federal Bank on Thursday said the Reserve Bank of India has accorded approval to ICICI Prudential Asset Management Company Ltd () for acquiring up to 9.95 per cent stake in the bank. RBI accorded the approval subject to conditions on Thursday, Federal Bank said in a regulatory filing.
Retail investors now own a larger share of smallcap companies than they did a year ago, thanks to their conviction in mutual fund (MF) schemes focused on this segment. Data from Capitaline shows that MFs' average holding in the National Stock Exchange Nifty Smallcap 250 Index stood at 9 per cent at the end of the October-December quarter of 2023-24 (FY24), up from 7.76 per cent in the same quarter of 2022-23.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
Retail investors now own a bigger slice of smallcap companies than at the start of 2023-24 (FY24), underscoring their growing conviction about investing in this red-hot space. Data from Capitaline shows mutual funds' (MFs') average holding in the National Stock Exchange Nifty Smallcap 250 rising to 9.26 per cent from 8.67 per cent during the first six months of FY24, with the number of companies with over 20 per cent MF holdings increasing from 24 to 28. In comparison, MF holdings in Nifty50 companies have gone up only marginally, from 9.67 per cent to 9.75 per cent.
Even as competition to garner deposits is intensifying into a tight liquidity and high credit growth scenario, Bank of Baroda (BoB) has hiked deposit rates for the second time in the current quarter. Also, private lender IDBI Bank has come out with a limited period offer on its term deposits. It is offering 7.6 per cent interest rate for a tenor of 700 days, effective from December 2022.
Public-sector banks, which are the largest employers in the banking space, have seen a drop in clerical staff over the years.
Investors are pushing back more often against companies' resolutions on what is paid out to top executives. In the first four months of financial year 2022-23 (FY23), there have already been five such rejections, according to shareholder voting data from tracker Adrian, a platform maintained by the proxy advisory firm Institutional Investor Advisory Services India (IiAS). Two of these have been at multiplex chain PVR and direct-to-home company Dish TV India.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
More cos could join the likes of Burger King and Antony Waste in giving listing another shot.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Besides, two new entities-- IDFC and Bandhan -- have been given full-fledged banking licence.
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Quick Heal Technologies which got listed in February has taken the steepest hit as its shares have slumped 31 per cent against its IPO price.
FIPB had taken up these three proposals in its meeting in August, but the decision on them was kept in abeyance.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
While Rakesh Jhunjhunwala is up 14.9% during the year to Rs 12,381 cr, Ashish Dhawan is up 68.4% to Rs 810 cr, Ashish Kacholia is down 23.4% to Rs 515 cr, Rajiv and Dolly Khanna are down 74.6% to Rs 116 cr and Vijay Kedia is down 6.2% to Rs 294 cr.
A total of 25 companies raised Rs 28,220 crore during the financial year.
Microfinance portfolio of SFBs saw a muted growth of about 3% last year
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Among the gainers, microfinance player Ujjivan Financial Services which made its stock market debut in May has seen the biggest rally in its share price.
The FIPB rejected two proposals -- Nigeria's Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
For the first time since 2001, promoter stake in BSE 500 decisively below 50%
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries
Eye business expansion, fulfil working capital requirements and making loan repayments
However, despite the reduction, their interest rates would be about 50-100 basis points higher than those of banks
In the 52 newly listed companies since 2014, fund managers have a total investment of a mere 2.5 per cent of their assets under management.
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'An entrepreneur should always remain under pressure or he will die,' Vineet Rai tells Anjuli Bhargava.
The BSE Mid-cap index gained 1.1% while the Small-cap index surged 1.3%, outperforming the benchmark indices
