Ramesh Vangal and foreign investors backing him have decided to exit the Nadar community-controlled Tamilnad Mercantile Bank (TMB).
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
One should appreciate the sagacity and audacity of JRD and Nani Palkhivala in founding TCS on April 1, 1968. At that time there was no Microsoft or Intel, SAP or Accenture, much less Google.
They needed a person who could build and execute their vision: A frontiersman; a problem solver and an institution builder. It was their and India's good fortune that Faqir Chand Kohli more than measured up to their requirements and indeed laid the foundation to take TCS to unimaginable heights and to the giant success that it is today. Shivanand Kanavi salutes the incomparable F C Kohli, who passed into the ages last week.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
India's biggest life insurer and financial institution has turned to its 'turnaround man' to restore credibility to prime subsidiary LIC Housing Finance (LICHF). Vijay Kumar Sharma, 52, formally took over as its CEO on Wednesday. Sharma comes from Chennai, where over the past one year he turned LIC's south zone into the best performer after a 20-month slowdown.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
Experts said many firms had unbilled assets on their books.
The ripples from November 8 may be seen in next year's state budgets.
The Union home ministry has issued strict guidelines for the enforcement of the 21-day complete nationwide lockdown in the wake of the covid-19 pandemic, invoking the National Disaster Management Act which may result in imprisonment of up to two years for any violation. All government offices, the offices of state and Union territory governments, autonomous institutions, public corporations, commercial, private, industrial establishments shall remain closed, the guidelines issued by the ministry said.
.jpg)
India's share of 2015 emerging market allocations will be driven by FII perceptions on likely growth and reform.
Indian market has been plagued by negative sentiment and triggers
There is no escaping the paperwork while investing in financial products. Be it, opening a new bank account, demat account or buying insurance, filling the Know Your Client (KYC) documents is a mandatory procedure today.
2019 appears a story of two halves for Indian equities - a more difficult first half might precede a stronger second half, said Abhiram Eleswarapu, bottom, left, Head of India Equity Research, BNP Paribas in an interview with Ashley Coutinho.
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
The State Bank of India, ICICI Bank, HDFC Bank, IndusInd Bank, ABN Amro and others are all set to hardsell themselves to pravasis in the Gulf at the two-day 'NRI Money Show 2003' beginning June 27 in Dubai.
In the changed scenario of Indian private equity, where institutions and individuals are busy with fund raising, the fund houses are exploring untapped markets.
A day after global brokerage firm Macquarie painted a rosy picture of the Indian economy and raised its target level for the stock indices for the next 12 months, Goldman Sachs said India is set to overtake China and become the fastest-growing emerging market during 2016-18.
Using buyback as a divestment tool is not new, the amount raised this year is phenomenally high.
If India has more billionaires than before, it is because the Indian economy began to look more attractive to FIIs, notes T N Ninan.
'Prevention plus vaccination is what is going to take us into better territory by September or October.'
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
Commerce and Industry Minister Piyush Goyal urged start-ups to focus on three Ps - product, process, people - for building Aatmnirbhar Bharat.
IHMCL implemented the FASTag electronic tolling of national highways, but due to technical glitches, road ministry is mulling the option of offering this job to a Korean company
An alternative approach has been demonstrated by IIT Bombay, which has been transmitting live, through Edusat and webcast, about 1,000 hours of its own classroom teaching free of cost every semester.
The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both 'the worst of times and the best of times' for the stock market, said analysts. What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures. Markets closed 2020 with remarkable gains of around 16 per cent, but will the winning ways continue in 2021 as well?
Cairn, which is sitting on a cash pile of about $3 billion, in a statement said its board has approved buying 17.09 crore shares or 8.9 per cent of the total shareholding, from open market at no more than Rs 335 apiece.
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
The government has been taking steps to promote cashless or digital transactions to take India towards a less-cash economy
Weakness in the broader markets, along with expensive valuations that these companies had commanded during their IPOs, has led to this fall
In a time of tight credit, the facility will support grants to bank and non-bank institutions for activities to increase access to financial services, such as savings, credit, payments and insurance, in rural areas in developing countries as profitable business lines, the World Bank said.
India and the US inked a tax information sharing agreement under FATCA which will enable automatic exchange of financial information.
With the Reserve Bank of India's (RBI's) draft reconstruction scheme for the troubled lender suggesting a permanent write-down of these bonds outstanding as of March 5, bondholders who have invested RS 10,800 crores are up in arms, reports Hamsini Karthik.
Combining affordable IT with native Indian ingenuity and entrepreneurship F C Kohli believed would enable Indian small businesses match anyone and thrive.
Praising them for "being forthright and transparent with shareholders", a magazine has named three India-origin chief executives-- Indra Nooyi, Francisco D'Souza and Ramani Ayer among the best CEOs in the US.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
Government planning to slash the number of days required to start a business in Mumbai, Delhi from the current 26.
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
