Finance

Family finance: Biraris need to start planning early, invest surplus income to meet money goals

Kumar, 27, and Veta Birari, 28, are both software developers, who live in their own house, in Pune. They get a combined monthly salary of Rs 1.36 lakh, of which they are left with a surplus of Rs 57,930. In order to achieve their goals, they will need to put this amount to work instead of letting it idle in ... Read More »

Indiabulls Housing Finance shares jump 4% on fundraising plans

Indiabulls Housing Finance share price rose in trade today after the firm said it would deliver 17-19 per cent net profit growth in FY20 & plans to raise Rs 26,000 crore in four quarters of FY20. Reacting to this, shares of the company rose by almost 4 per cent on Thursday. The total resources raised in Q4FY19 were Rs 17,300 ... Read More »

Manappuram Finance withdraws release on securing funding from NABARD

Non-banking finance company Manappuram Finance Thursday withdrew a release it had issued earlier in the day regarding securing debt funding from NABARD. The release titled ‘Manappuram Finance secures Rs 695 crore debt funding from NABARD’ is being “retracted with immediate effect due to factual inaccuracies in statement as well as transaction”, the company said. Manappuram Finance also said it would come out with a revised announcement ... Read More »

Siemens’ finance arm buys 46% stake in Greenko’s wind unit

Mumbai: German engineering conglomerate Siemens’ financing arm has signed a pact with Greenko group to acquire 46% stake in its 200 MW-Poovani wind powerproject, German conglomerate said on Monday. This is SiemensNSE 0.61 % Financial Services’ first investment in a wind farm in Asia. Its group company Siemens Gamesa Renewable Energy is building the project for Greenko. “Completing our first equity investment in ... Read More »

An Indian view from Wall Street on women in finance

My inspiration has come from within my own family. My mother who had a doctorate and was a Professor at a time when women in India barely went to college. She took a leap of faith from Dalal Street to Wall Street to manage some key initiatives at S&P DJI. Alka Banerjee shares her views on how hard it is to stay ahead of ... Read More »

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 »