Finance

SAIF Partners-backed Aye Finance raises $10 mn in debt funding

Non-banking finance company Aye Finance Pvt. Ltd said on Thursday it has raised $10 million (Rs 71 crore) in debt funding from Swiss asset manager responsAbility Investments AG and homegrown firm Northern Arc Capital. Aye Finance will use the proceeds, raised through non-convertible debentures, to boost its loan growth, it said in a statement. This is the 12th such debt ... Read More »

How to make a finance action plan for 2019

Information from Sutton Financial Group: Congratulations! You have made it through the holidays, considered your New Year’s Resolutions (that you’ll work on for probably the next ten days and then back to old habits, right?) and went back to work. Yippee. Josh Billings said, “Life is short, but it’s long enough to ruin any man who wants to be ruined.” ... Read More »

Family Finance: Why this salaried couple is on track to achieving all their goals

Sunil Kumar and Sangeeta Yadav stay in Delhi with their three children aged 13 and four (twins). They get a combined monthly salary of Rs 5.81 lakh, which includes a rental income of Rs 10,000. The couple owns three houses and an ancestral plot, which are worth Rs 5.4 crore. Two of these have been bought as investment with loans ... Read More »

How a Plan Helped Financial Life

Pramod wants to ensure that the financial mistakes he committed do not get passed on to the next generation. Photo: Jithendra M/Mint One of the biggest money mistakes Sai Pramod G.N. says he made in his life was investing in a single asset class—real estate—by being in a hurry to clear off his home loan. He bought a house in ... Read More »

PNB fraud case: Mehul Choksi’s location revealed to CBI, ED at the last moment

Gitanjali Gems promoter Mehul Choksi and his nephew Nirav Modi are at the centre of the $2 billion fraud at Punjab National Bank (PNB). New Delhi: A day after PNB fraud accused Mehul Choksi was traced to Antigua and Barbuda in the Caribbean islands, persons familiar with the developments said investigating agencies, including the Central Bureau of Investigation and the Enforcement Directorate, were ... Read More »

How to evaluate HDFC MF IPO

Experts believe that fund houses with a large proportion of direct sales have a better brand and bigger pricing power when it comes to fixing commissions for distributors. Photo: iStock The initial public offer (IPO) of HDFC Asset Management Co. Ltd,India’s second largest fund house with assets of ₹3.06 trillion, is open from 25-27 July. The issue price on a ₹5 ... Read More »

Oman India Joint Investment Fund backs NBFC Annapurna Finance

Bhubaneswar-based non-banking financial company (NBFC) Annapurna Finance Pvt. Ltd has raised Rs 155 crore ($23 million) from mid-market private equity firm Oman India Joint Investment Fund (OIJIF). OIJIF is a joint venture of Oman’s State General Reserve Fund and State Bank of India. The firm said in a statement that the infusion was part of OIJIF’s commitment to invest Rs ... Read More »

Real Vision, a media platform for finance and business, raises $10 million

  Real Vision is entering the crowded business and financial new space with a bang. The company, which recently raised a $10 million Series B after a $5 million A round, is working on a number of new initiatives including distribution on Apple TV, a content distribution partnership with Thomson Reuters and an upcoming documentary on PBS. The documentary, “A World ... Read More »

Rupee weakens against US dollar

The 10-year bond yield stood at 7.827%, down from its Friday’s close of 7.833%. Photo: Bloomberg Mumbai: The Indian rupee on Monday weakened marginally against the US dollar on worries of higher crude oil prices and tracking losses in Asian currencies. At 2.10pm, the rupee was trading at 68.08 against the US dollar, down 0.10% from its previous close of 68.01. ... Read More »

Just a third of credit-worthy consumers tapped by banks: Cibil report

This segment of eligible consumers promises retail lending opportunities for banks through products such as credit cards, personal loans and consumer durable loans. Photo: iStock Mumbai: Even after the increased focus on retail loans for a decade, banks and other lending institutions have been able to tap only into a third of the estimated 220 million credit-eligible consumers, a report said. ... Read More »