Finance

Credit Suisse downgrades LIC Housing Finance, cuts target; stock tanks 5%

Global brokerage house Credit Suisse turned bearish on LIC Housing Finance, which fell more than 5 percent intraday on February 18. The stock has corrected more than 22 percent in the last month. It was quoting at Rs 362.60, down Rs 17.25, or 4.54 percent, on the BSE at 1022 hours, while IDBI Bank was down over 2 percent. The research ... Read More »

Delays in debt recoveries irk Bombay HC; asks Finance Ministry to enhance Debt Recovery Tribunal

The Bench was irked noticing a near 20-year delay by DRT. Omkar Gokhale The Bombay High Court (HC) recently observed that it is useless to say the economy will grow when funds of banks and financial institutions are stuck due to delays in resolution of cases in forums due to lack of staff and infrastructure. Noting this, the HC directed ... Read More »

Ajeesh Achuthan: Making finance easy for startups

Ajeesh Achuthan | 28 Co-Founder and CTO, Open As a student at the University of Kerala, Ajeesh Achuthan had founded InLoc8, a location-based ad-tech startup that would help stores push offers and advertisements to consumers within a building or a shopping mall. “But that firm wasn’t scalable, and we eventually shut down,” he says.Soon after, he co-founded Zwitch, a payment ... Read More »

SBI Signs MoU With Realme For Electronic Dealer Finance Scheme

India’s largest lender and a pioneer in SME lending, State Bank of India (SBI) has taken yet another trendsetting step in this space by entering into a partnership with realme to cater to the inventory finance needs of the distributors and dealers of its brand realme – through SBI’s electronic lending product (e-DFS).  With this MoU the dealers and distributors ... Read More »

How 15th Finance Commission is trying to manage South India’s anger over tax division – and failing

No other country carries within it the diversity that India does. This trite-but-true dictum extends even to taxation, with different states having markedly different rates of prosperity. Karnataka, for example, has a per capita income that is almost five times that of Bihar. Expectedly, the manner in which India distributes the tax revenue it raises between the Union government and ... Read More »

Verizon Media rolls out a personal finance site, Cashay, for millennials

Verizon Media is launching on Wednesday a new personal finance site for Generation Z and millennials called Cashay. The site will feature a mixture of content, including original stories by Cashay’s editorial staff, special reports and series from the Yahoo Finance team, as well as a 400-plus collection of articles from Financial Fitness Group, the project’s content partner. (Financial Fitness Group ... Read More »

Azimo, the money transfer service, secures €20M debt finance from the European Investment Bank

Azimo, the money transfer service that is HQ’d in London but has the majority of its staff based in based in Poland, has secured €20 million in debt from the European Investment Bank (EIB), the lending arm of the European Union. The financing is supported by the European Fund for Strategic Investments (EFSI), the financial pillar of the EU’s “Investment ... Read More »

From farm sector to personal finance, here’s The Indian Express’ full coverage of Budget 2020

Union Finance Minister Nirmala Sitharaman, flanked by her deputy Anurag Thakur (to her right) and a team of officials, shows a folder containing the Union Budget documents as she arrives at Parliament Facing one of the steepest slides in growth and just into the first year of its second term, the NDA-2 government decided to play safe when it came ... Read More »

Finance ministry official misses father’s last rites to print Union Budget 2020

From investors to aam aadmi, all are eagerly waiting for February 1 as Finance Minister Nirmala Sitharaman is going to table Union Budget 2020-21.The process of printing documents for the Union Budget 2020 had started with a ‘halwa ceremony’ on January 20. While all the finance ministry officials are busy with preparing the budget documents, Kuldeep Kumar Sharma, the man responsible for printing ... Read More »

Bajaj Finance posts 52% rise in Q3 profit, sets aside ₹85 crore for Karvy loan

Consumer durable lender Bajaj Finance on Wednesday reported a 52% year-on-year (y-o-y) rise in consolidated net profit of ₹1,614.11 crore, its highest-ever quarterly profit, on the back of healthy interest income. Bajaj Finance’s interest income surged 39% y-o-y to ₹6,104.84 crore in the December quarter of FY20. The other large component of its revenues was in the form of fees and commission ... Read More »