With the Union Budget just around the corner, the Association of Mutual Funds in India (AMFI) has put forth a wishlist on behalf of the mutual fund industry to the Finance Ministry. “AMFI’s suggestions have been in the Budget proposal list for a few years. We are hoping this time our long pending submissions get addressed, which would help take the Indian ... Read More »
New Delhi: With softer vehicle demand worldwide, the global auto financing market is predicted to grow at a modest CAGR of 6.7 per cent in the next six years, as per a recent report. A US-based market research and consulting company Grand View Research in its latest report expects international automotive finance market to reach USD 344.1 billion by 2026. ... Read More »
French energy major Total will move its finance department back to Paris from London due to Britain’s impending exit from the European Union, and also to reduce costs, the firms Chief Executive Patrick Pouyanne said on Tuesday. The blue chip company caused an uproar in France when it decided in 2013 to move the 70-strong department from its Paris headquarters ... Read More »
The State Bank of India’s (SBI) recently-introduced loan offering – Residential Builder Finance with Buyer Guarantee – has been the centre of attention since its launch last week. As the name suggests, the assurance to prospective home-buyers on safeguarding their interests in case the project is abandoned is the scheme’s USP. However, this is not a different loan variant. Interest ... Read More »
LC&F sold £236m of mini-bonds that promised strong returns to 11,400 customers. Photograph: Mike Kemp/In Pictures/Getty Images More than 11,400 investors are likely to lose more than £230m in savings due to the collapse of London Capital & Finance after it was announced that only 159 affected mini-bond customers would receive compensation. The Financial Services Compensation Scheme said it had identified a small group of ... Read More »
Cholamandalam Investment and Finance Company Ltd (CIFCL) on January 10 said it would raise Rs 400 crore tier-II debt from the UK-based CDC Group Plc through unsecured, subordinated, rupee denominated masala bonds. The masala bonds were Cholamandalam Investment and Finance Company’s maiden issue which may be listed on the London Stock Exchange in future. “CDC and CIFCL have joined hands to ... Read More »
Private sector banks registered double-digit credit growth of 16.5 per cent in September 2019. (Representational image) A Reserve Bank of India (RBI) report released on Friday showed that the worst may not be over for banks on the bad loan front as gross non-performing asset (GNPA) ratio of banks may increase to 9.9 per cent by September 2020 from 9.3 ... Read More »
For an average Indian investor, if the turn of the 21st century was about moving beyond the comforts of fixed deposits to market-linked products, the first 10 years were spent discovering the imperfections of the market. Fragmented markets with regulators fighting over turf left investors confused and grappling for recourse. The start of this decade held out hope as the ... Read More »
Technology has transformed consumer behavior and business practices in many ways over the past decade. One segment, easily overlooked, is how much technology has changed the financial sector. Fintech, short for financial technology, is the act of using technology to better accomplish traditional financial tasks, usually by making them cheaper, safer, and more convenient. While it is well beyond the ... Read More »
The private sector lender had informed the exchanges on December 6 that Jairam would be stepping down as CFO. Piramal Enterprises on Friday announced the appointment of Jairam Sridharan as the CEO of its consumer finance business. Sridharan recently quit as CFO of Axis Bank. The private sector lender had informed the exchanges on December 6 that Jairam would be stepping down ... Read More »
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