IT firm MphasiS on Monday said it will acquire US-based Digital Risk for $175 million (about Rs 960 crore), a move that will help it attain leadership position in the US mortgage services market.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
The Supreme Court has agreed to examine the legal issue of whether the Enforcement Directorate can attach ancestral properties of the accused under the Prevention of Money Laundering Act as 'proceeds of crime.'
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
Amit Shah's net worth grew 32 per cent to Rs 37.91 crore, mainly due to 80 per cent appreciation in the market value of his securities.
The representatives of thousands of agitating farmers, who are sitting on various borders of the national capital since November 26 demanding repeal of the three agri laws, have said that the countrywide strike on Tuesday would be observed with full force.
This beauty queen's story will inspire you.
The largest German bank is facing numerous charges of defrauding its customers and contributing to the US housing market bubble by marketing complex mortgage and financial products that concealed the risks involved.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
The new rates vary from 8.80 to 9.05 per cent on various slabs of loans.
Aavas is turning heads in the country's mortgage financing space because it selected to do business in a different way, says Mudar Patherya.
Until your home loan is sanctioned, some silly mistakes on your part before making the first move can derail the most important goal of your life.
'One often assumes that after being in a marriage for a while, one knows their partner really well.' 'But do we really know what they want?' 'What they need? What they seek.'
The acquisition would help Accenture to help lenders and real estate investment trusts streamline their operations, enhance customer experience and improve profitability, a company statement issued in Chennai said.
US-based Oaktree on Monday pipped Piramal Enterprises and Adani Group to emerge as the highest bidder for DHFL after fresh bids were invited under the insolvency process, according to sources. The committee of creditors had fixed December 14 as the last for submission of revised bids. According to the sources, Oaktree raised the bid to Rs 36,646 crore, including Rs 1,000 crore for insurance and Rs 3,000 crore of interest earned, while Piramal Enterprises offered Rs 35,550 crore, including Rs 300 for insurance and Rs 3,000 of interest earned.
Banks would soon be able to determine whether a property is already mortgaged when a borrower approaches them for a loan against it and this would help in checking the increasing instances of housing loan frauds.
'This government is so fond of some corporate friends that they can always amend existing laws or make new laws.'
If the real estate sector is properly managed, it could drive not just finance but demand for a range of products and services, observes T N Ninan.
The purchase or construction of houses by large numbers of people can add meaningfully to India's economic growth, points out Neelkanth Mishra.
Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
The broader NSE Nifty gained 17.35 points or 0.16 per cent to end at 10,997.35.
Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
The merged entity will have a combined market share of 6.4 per cent in the non-life insurance industry with 308 branches in the country. The deal is subject to regulatory approvals and the entire process is expected to be completed in nine months.
News of all that transpired on and off the football field...
The court also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
Cumulative FII holdings in the company rose to 77.85 per cent in the July-September quarter this year from 73.09 per cent in three months ended September last year, according to data from stock exchanges.
'I reached Bhopal the day after the gas tragedy; the smell was still in the air. It was a professional hazard but I was not scared.'
The reduction in value of Chandra's assets comes close on the heels of the group's debt burgeoning to over Rs 12,000 crore, much of which he had raised by pledging his shares to banks and mutual funds in his flagship company ZEEL after many of the groups infrastructure bets did not take off.
According to a survey by mortgage insurer Genworth Financial Inc, 64 per cent of surveyed respondents in India felt positive about the outlook for their national economy over the next 12 months compared to just 30 per cent across all surveyed countries.
It is also felt that under the current market conditions, the building is unlikely to garner the kind of funds expected from a prime real estate at Nariman Point
Rising interest rates can affect cash flows, especially long-tenure loan
It is nearly after 13 years that a foreign brokerage has resumed holistic coverage on stocks of public sector banks (PSBs). To that extent, Morgan Stanley's report dated March 3, where the analysts have listed their order of preference for PSB stocks, is an indication that the state-owned banks may once again be attracting some interest, thanks to three back-to-back quarters of good results in FY21 so far. "State-owned banks' balance sheets have improved, and bad loans formation should moderate going forward," the analysts note and this is the key reason for them to relook at their stance on PSBs. While State Bank of India (SBI) remains their preferred pick, stocks of Bank of Baroda (BOB) and Punjab National Bank (PNB) have been upgraded from 'underweight' to 'equal-weight'. The brokerage maintains its underweight recommendation on Bank of India and Canara Bank.
The PGA Tour plans to use chartered planes to shuttle golfers and caddies between tournaments when the circuit returns from its coronavirus hiatus at the Charles Schwab Challenge in June, said Kevin Streelman. Streelman, a two-time winner on the PGA Tour, told Golfweek that the plan is part of safety measures being put place to protect players and caddies during the COVID-19 pandemic that forced a shutdown of the PGA Tour at the Players Championship in mid-March.
After exporters, real estate companies are demanding a priority sector tag for loans to the low-cost housing sector.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
Liquidity, stable income generation, potential capital appreciation are the benefits from REITs
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
Dewan Housing launches reverse mortgage for senior citizens.
Driven by hardship, adventurous souls mortgage their homesteads in Punjab or Haryana, pawn the family jewellery and borrow heavily to satisfy the greed of the criminal traffickers who organise their trips, points out Sunanda K Datta-Ray.
