Tag Archives: In

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 »

15th Finance Commission seeks say in GST Council amid Centre-states row

The Centre and state governments seem to be on a collision course amid a sharp economic downturn that has eroded their financial positions. Fifteenth Finance Commission (FFC) chairman N.K. Singh on Friday sought a leverage with the Goods and Services Tax (GST) Council, arguing that tax rate cuts and grant of exemptions decided solely by the council affects the FFC’s goal of ... Read More »

Ujjivan Small Finance Bank raises capital in pre-IPO round

MUMBAI : Ujjivan Small Finance Bank has raised ₹250 crore in a pre-initial public offering (IPO) round led by India Infoline (IIFL) group’s funds, a private equity fund of Avendus Capital and Akash Bhanshali of Enam Group. The pre-IPO round closed on Wednesday. The lender’s filings with the registrar of companies (RoC) shows that funds managed by IIFL invested around ₹136 crore in the pre-IPO round. The ... Read More »

The Education Department is cancelling $10.8 million in student loan debt for students at two shuttered schools

More than 1,500 former students at two shuttered schools will get a fresh start on their finances after the U.S. Department of Education said it will void their student loans. The department will cancel approximately 4,000 loans for ex-students at the Art Institute of Colorado and the Illinois Institute of Art, amid scrutiny from a Congressional committee and a class-action ... Read More »

Finance ministry turns down MoRTH’s demand for Rs 43,000 crore hike in outlay

Of the total budgetary support for the current fiscal, MoRTH has already spent Rs. 51,798 crore or 62% by September end, as per the Controller General of Accounts data. Despite the apparent thrust being given to infrastructure spending, the finance ministry has rejected the road transport and highway ministry’s demand for hiking the budget outlay for it by Rs. 43,000 ... Read More »