Finance

Finance Commission weighing incentives for states for farm reforms

These are among a plethora of stifling rules and regulations that have long hampered India’s progress in agriculture and, in turn, dented its farm export prospects. (Representational image) Fifteenth Finance Commission chairman NK Singh on Wednesday said the panel was considering working out a model to incentivise those states that undertake credible reforms in agriculture by easing or removing damaging ... Read More »

Bajaj Finance to launch QIP next week: Sources

Bajaj Finance will look to issue its qualified Institutional placement (QIP) next week, according to a CNBC-TV18 flash. The size of the QIP is reportedly about Rs 8,500 crore and its price band is likely to be between Rs 3,810–3,900 per share. Five to six domestic and foreign bankers  have been appointed for the issue of the QIP. Bajaj Finance posted a net profit ... Read More »

WeWork could burn through $10 billion rescue finance in 10 months without major costs cuts – AArete

Office-share startup WeWork could blow through its near $10 billion rescue financing package from SoftBank Group Corp in about 10 months unless it quickly implements significant cost cuts, according to Loren Trimble, chief executive officer of AArete, a global consulting firm. “One thing they have to do is get more revenue out of its footprint,” said Trimble, who has combed ... Read More »

Ujjivan Small Finance Bank gets SEBI nod to float IPO

Ujjivan Small Finance Bank Ltd, a unit of non-bank lender Ujjivan Financial Services Ltd, has received regulatory nod to float an initial public offering (IPO). The Securities and Exchange Board of India (SEBI) issued final observation to Ujjivan SFB’s IPO proposal on 16 October, according to information published on SEBI’s website. This makes Ujjivan SFB the 24th company to receive ... Read More »

Reliance on short-term funding poses risk to vehicle finance companies: Moody’s

Many Indian lenders have diversified into other businesses, such as home equity financing and business lending, which carry lower rates than any type of vehicle finance and suppress their overall asset yields. Heavy reliance on short-term wholesale funding and thin liquidity pose common risks for Indian vehicle finance companies. Vehicle finance companies in India are among the fastest growing in ... Read More »

5 financing platforms helping small businesses stock up easily this festive season

Small- and medium-sized businesses (SMBs) too want to cash in on the festival month, where India spends on clothes, food, and various consumer products. But for these SMBs, stocking up to meet the increased demand requires working capital. However, given the effects of economic slowdown reaching even small businesses, finding the funds to stock up is a challenge. This is ... Read More »

Finance Minister Nirmala Sitharaman to meet public sector bank heads today

NEW DELHI : Continuing efforts to increase credit disbursement, Finance Minister Nirmala Sitharaman will meet the heads of public sector banks (PSBs) today to take stock of recent steps taken by the government, including the first phase of the ‘outreach programme’ across over 200 districts during the festive season, a senior government official told Mint. It is learnt that the minister is expected ... Read More »

GST might have its flaws but it’s kanoon: Finance Minister Nirmala Sitharaman

File photo of Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Friday said that the Goods and Services Tax, even if faulty, cannot be damned as it has been passed by Parliament and in all state assemblies. “It might have flaws, it might probably give you difficulties but I am sorry, it’s the ‘kanoon’ of the country now,” the ... Read More »

Finance ministry suggests closure of BSNL, MTNL: Report

The finance ministry has recommended the closure of struggling telecom companies BSNL and MTNL, Financial Express has reported. The cost of closing the two state-run companies would not be as high as Rs 95,000 crore, a number put out by the Department of Telecommunications while asking for a bailout package, the report said. The sum of Rs 95,000 crore factored  in a ... Read More »

Investors love sprinting Bajaj Finance as SBI becomes a tired elephant

Mumbai: Why do investors prize Bajaj Finance more than the country’s largest lender State Bank of India (SBI) when the former is just a fraction of the size of the latter? This week, the nimble consumer lender’s market capitalisation surpassed that of the banking giant. Note that SBI has a balance sheet size of ₹22.4 trillion, about 14 times the size of Bajaj Finance’s book. But ... Read More »