Tag Archives: In

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 »

Every money-saving trade in sports this month, ranked by how little you should care

The NBA trade deadline is known for significant deals and non-stop activity that leaves our heads spinning. Where will Superstar X go? Wait, did Team A really trade for Exciting Player B? Holy crap, another Wojbomb! This is incredible! This year delivered again on that front, even though we didn’t think it would. But it’s also a wonderful time for the bean counters ... 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 »

Budget 2020: Halwa ceremony to be held in Finance Ministry

Desi sweet dish halwa, which is part of most auspicious ceremonies or events held in the country, has been prepared and distributed among staff and members by successive governments before kick-starting the printing of budget documents. The ceremonial distribution of halwa will be held on January 20 as it marks the official beginning of Budget 2020. The halwa ceremony will be ... Read More »

Finance firm employees robbed of Rs 1.7 lakh in Balasore

Balasore: Two employees of a private finance company were robbed of Rs 1.7 lakh by armed miscreants near Nayakbandha crusher under Soro police limits in Balasore district on Sunday morning. The matter came to light after the victims, employees of a private finance company, Jagannath Swain and Rashmirekha Das, lodged a complaint with the local police this morning. According to sources, ... Read More »

Investors face £230m loss in London Capital & Finance collapse

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 »

Anti-CAA protests: Internet services suspended in 14 UP districts ahead of Friday prayers, security beefed up

The authorities in various cities of Uttar Pradesh have suspended internet in view of the anti-Citizenship Amendment Act protests in Uttar Pradesh and Friday prayers. The state of Uttar Pradesh has witnessed massive and violent protests against the new citizenship law. At least 17 people were killed, over 200 police personnel injured and state-owned property damaged across Uttar Pradesh, last ... Read More »

How Fintech Reshaped Finance in the 2010s

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 »

Stellar response to Ujjivan Small Finance Bank: 7 IPOs got subscribed in double-triple digits in 2019

The primary market has seen 15 initial public offerings (IPOs) in 2019, less than the 21 public offers launched in 2018. This was due to weak market conditions, a slowdown in the economy and the liquidity crisis. In fact, the amount raised by these 15 IPOs was also far less than that raised in 2018. The 15 companies that went ... Read More »

Ujjivan Small Finance Bank IPO over 40% subscribed in 2 hours: Key things to know

The IPO of Ujjivan Small Finance Bank opened today for subscription and the lender is looking to raise ₹750 crore through this issue. The bank has set a price band of ₹36-37 per share and the issue closes on Wednesday. The bank will utilise the proceeds of IPO for increasing its Tier-1 capital base to meet its future capital requirements and towards meeting the ... Read More »