Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
The ban on taxi aggregators can put at risk investments of at least Rs 2,000 crore (Rs 20 billion), made by private equity (PE) and venture capital (VC) investors.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
Kareena Kapoor gives everyone a peek into Day 37 of her shoot of The Crew, a film where she co-stars with Tabu and Kriti Sanon.
Sukanya Verma quizzes you to find out just how much you know about the movies.
The peppy track has also been released in Tamil and Telugu and having seen all three versions, the Tamil rendition Vandha Edam sounds most fun.
Despite rising interest rates, and high inflation, the banking sector is doing well, on the back of a recovering economy. The last couple of quarters indicate credit demand is picking up and Return on Assets (RoA) is more than acceptable at the moment. The PSU bank pack may be more interesting at the moment simply due to being valued at far lower multiples than the private banks.
Narendra Modi on Wednesday said he was committed to bring back black money stashed abroad and assured people that if BJP is voted to power, he would set up a task force, amend laws and distribute the money brought in as "gift" among honest tax-payers.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
While the RJD has decided to deploy 50 tamtams, the JD-U has hired PM Modi's former campaign advisor to engage voters and counter the BJP.
'The face of a woman being insulted, vilified, degraded by her husband in front of the whole world for literally no reason ever.'
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
Aamir Khan talks about his upcoming film, the World Cup and more.
Despite markets turning volatile, share sale activity at India Inc has surged to its highest level in five months. So far in March, promoters, strategic investors and other large shareholders have been able to offload shares worth more than Rs 33,000 crore-the most since November-defying uncertain market conditions. Both the Sensex and the Nifty are on course to post their fourth straight monthly loss amid headwinds, such as interest rate tightening by the US Federal Reserve and the global banking crisis.
He cautioned students against excessive use of gadgets and asked them to believe in their smartness and not of their mobile phones.
A 30-year-old man, who had kidnapped a child and taken the ransom via UPI on his mobile wallet, has been arrested by the Noida police who used his digital footprints to trace him, officials said on Monday.
Rashtriya Janata Dal president Lalu Prasad Yadav had thrown barbs at the prime minister over his having no family.
US hedge fund Tiger Global and Japanese investment giant SoftBank have trimmed their investments in Indian start-ups by over a third - from $3.8 billion in the second half of 2021 to a mere $1.08 billion in H1 2022, according to data from Venture Intelligence. While SoftBank's investments in India dropped from $1.9 billion in H2 2021 by more than a fifth to only $0.33 billion in H1 2022, that of Tiger Global fell from $1.92 to $0.74 billion in the same period. Private equity (PE) fund trackers point out that this year most of the deals that Tiger Global has invested in are in the early stage (up to series D), and only a few are in the series E and above.
Recent RBI data indicates net addition of credit cards is running strong at 18 per cent year-on-year (Y-o-Y), but growth in credit card limits is ahead of loans outstanding. Growth in lower limit cards is decelerating fastest. The West and South have more usage and online transactions are more popular than offline, with metros leading growth.
'Pankaj Udhasji took the Ghazal to the masses. He was a wonderful singer, but more importantly he was a wonderful human being.'
The tarmac-bound warrior in her is guaranteed to inspire your travel style.
It took me 365 days to go from 49 to 50 earlier this year. I hope you go from 49 to 50 and break my record in the next few days. Congratulations!!'
The State Bank of India (SBI) is setting up a Rs 500-crore (Rs 5 billion) private equity (PE) fund to cater to the small and medium enterprise (SME) sector.
Renowned ghazal singer Pankaj Udhas, whose velvet smooth voice gave expression to the many colours of love, longing and heartache in songs such as Chitthi Ayee Hai and Aur Ahista Kijiye Baatein, died in Mumbai on Monday, February 26, 2024, after a prolonged illness.
Private Equity and Venture Capital funding in India needs to increase three-fold to $30 billion annually from the current level to shore up funding for small but promising companies, said a KPMG-CII report.
'The world needs Gandhi now more than any other time in history.'
Aasmaan Bhardwaj, singer Rekha Bhardwaj and director-composer Vishal Bhardwaj's son, gets ready for his directorial debut with Kuttey, an ensemble action thriller, starring Arjun Kapoor, Radhika Madan, Konkona Sen Sharma, Tabu, Naseeruddin Shah and Kumud Mishra.
They will not be followed by analysts and no fund manager can buy such small companies with low trading liquidity.
Large companies, those that are talked about in the media and tracked on social media, have already been discovered. They won't lead to extraordinary gains, Debashish Basu points out.
Of the total, 55-60 per cent investments are made by overseas PE firms, he said, added that "for the year ahead, leading PE firms such as ChrysCapital and Henderson Equity Partners have several deals in the pipeline".
Private equity investments in Indian companies grew 38 per cent to $62.2 billion last year, with inflows into Reliance Industries' telecom and retail ventures contributing nearly 40 per cent of the total value of the deals, a report said on Wednesday. Barring investments into Jio Platforms and Reliance Retail, the total deal value was down by 20 per cent over 2019 as the volume of large deals of more than $100 million dipped by a fourth, as per the report by Bain & Company and India Venture Capital Association. Overall investment activity remained muted from March to May last year due to COVID-led uncertainties and investor confidence recovered strongly in the second half to pre-COVID levels with late-stage and buyout deals witnessing increased traction, it said.
Inside the television actress' wardrobe of cocktail-ready saris.
Ronnie Screwvala-led edtech unicorn upGrad, has filed a suit for trademark infringement against another EdTech company called Scaler. The suit has been filed in the Delhi high court for violation of intellectual property relating to upGrad's trademark. It has also sought damages of more than Rs 3 crore. upGrad accused Scaler of using its brand name 'upGrad' through Google Ads to appear on top of search results on Google Search Engine and in turn gaining illicit benefit.
According to a report by Ernst & Young, 45 PE-backed companies raised $17.2 billion in proceeds, highest quarterly total since the second quarter of 2007.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
India's largest asset manager SBI Funds Management on Tuesday said they are negative on equities from a shorter-term perspective as valuations have risen above the comfort zone. "We are not positive on equities. We think valuations are expensive. "The market has gone up a lot more than the earnings have grown," said R Srinivasan, Chief Investment Officer (CIO) - Equity at SBI Mutual Fund, at the launch of asset management companies' (AMC) yearly report on the market outlook.
Former BharatPe chief Ashneer Grover has written to the company's board seeking action against CEO Suhail Sameer following his offensive remarks on social media and sought resignation of chairman Rajnish Kumar. In response to a comment by Ashneer's sister Aashima on a social media post by former BharatPe employee Karan Sarki, Sameer said "Behen- tere bhai ne saara paisa chura liya (Sister, your brother has stolen all the money). Very little left to pay salaries". Sarki in the post had raised the issue of sacking of old staff and non-payment of salaries.
The state government ordered an inquiry into the programme organised at Kalorex Future School, located in Ghatlodia area of the city, on September 29.
The global survey of 450 unlisted PE funds by research firm Preqin has found that during January-June period, 11 Infra funds made aggregate commitments of $12.6 billion.
Investors may have to wait a little longer for Unified Payments Interface (UPI)-based block mechanism in the secondary market even as the market regulator has set the effective launch date as January 1, 2024. Several brokerage firms said they may take a few months more to implement it. Investors will be able to register for this facility only if the stock broker has opted for the UPI block facility.
