Finance

‘On tap’ licence regime: RBI proposes `200 cr capital for small finance banks

September 14, 2019

The editorial referred to the Reserve Bank of India’s (RBI) recent report indicating that the banking sector reported 6,801 frauds involving a total Rs 71,542.93 crore. (Express Photo by Tashi Tobgyal) The Reserve Bank of India (RBI) on Friday proposed a minimum equity capital of Rs 200 crore to set up a small finance bank […]

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RBI refuses to extend Equitas SFB’s deadline for listing

September 7, 2019

The order comes at a time when the bank completed three years of operations. The Reserve Bank of India (RBI) has refused to extend Chennai-based Equitas Small Finance Bank’s deadline for listing. The banking regulator said that the bank cannot open new branches till further orders. The order comes at a time when the bank completed […]

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Finance minister Nirmala Sitharaman to address press conference on state of economy

August 28, 2019

Finance Minister Nirmala Sitharaman will be addressing a press conference on August 23 at 5 pm in New Delhi. The briefing is likely to discuss the state of the economy. Foremost among the things that the Finance Minister could address is the issue of surcharge on foreign portfolio investors (FPIs). In her maiden Budget proposal, […]

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Sensex rebounds 500 points; Bajaj Finance, Yes Bank, RIL among top gainers

August 14, 2019

Tracking higher global markets, India’s stock market indices Sensex and Nifty rebounded today, with some buying emerging in stocks that fell sharply in Tuesday’s selloff. The Sensex was up over 500 points at day’s high while Nifty regained 11,050 after US delayed tariffs on some Chinese imports, bringing some relief to global markets rattled by […]

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Fintech startup Aye Finance raises Rs 55 Cr debt funding from DCB Bank

July 30, 2019

Financial technology startup Aye Finance on Tuesday said it has raised a debt funding of Rs 55 crore from DCB Bank to grow its loan book and credit solutions. The company will use these funds to grow its loan book and offer affordable and customised credit solutions to the credit starved micro-enterprises in India. Aye Finance has disbursed over Rs 2,000 crore […]

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Bajaj Finance Shares Bounce Back On Strong Loan Book

July 16, 2019

Share of Bajaj Finance bounced back strongly on Tuesday after falling over 8 per cent in the previous session. Shares of the Pune-based NBFC (non-banking financial company) jumped over 6 per cent to touch an intraday high of Rs. 3,624.05 on the Bombay Stock Exchange. The jump in Bajaj Finance share price came after it reported an […]

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Finance Ministry restricts access to journalists: Here is all you need to know

July 14, 2019

The Ministry of Finance has decided not to let journalists, even those with Press Information Bureau (PIB) accredited cards, enter its premises in North Block without prior appointment. Earlier, this restriction was imposed only ahead of Budget presentation, when the entire ministry is quarantined in order to maintain secrecy. However, these restrictions were lifted on […]

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PWC resigns as statutory auditor of Reliance Capital and Reliance Home Finance

June 12, 2019

Anil Ambani-led Reliance Capital and Reliance Home Finance Wednesday said Price Waterhouse & Co Chartered Accountants (PWC) has resigned as statutory auditor of both the companies. PWC has put in its resignation, with effect from June 11, 2019, citing unsatisfactory response to “certain observations” made by it as a part of the ongoing audit for […]

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Nirmala Sitharaman is Finance Minister: 10 facts about the senior-most woman in Modi’s cabinet

May 31, 2019

Nirmala Sitharaman is all set to step into Arun Jaitley’s shoes as she takes charge of the finance portfolio in Modi’s Cabinet 2.0. She has served as the defence minister in the Modi government’s first term from September 2017 to May 2019. She took charge as the Finance Minister on Friday afternoon. Here are 10 […]

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Muthoot Finance Q4 profit rises 11% for FY19

May 14, 2019

Kochi: Major gold finance company Muthoot FinanceNSE 4.52 % Ltd (MFIN) recorded 11% increase in net profit year-on-year for FY19 at Rs 1972 crore . The loan assets for the year stood at Rs 34246 crore, 18% rise over previous year. The total income grew by 9% to Rs 6881 crore and the gold loan outstanding touched […]

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