See N Chandrasekaran as a software man with niche in finance: Vallabh Bhanshali

N Chandrasekaran completes a year as Tata Sons’ Chairman and keeps to his promise of stabilising the conglomerate by simplifying the structure. In an interview to CNBC-TV18, Vallabh Bhanshali, Chairman of Enam Securities shared his views on the same. Bhanshali said that would rate Chandra’s performance as 9 on 10 this year, as Tata Group Chairman. He further said that Chandra provides an exemplary depiction of an uncluttered mind. I see Chandra as a software man with niche in finance, he added. He also mentioned that subject to external limitations,…

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Will see if more devolution to states served its purpose: Finance Commission

Headed by former RBI Governor Y V Reddy, the 14th Finance Commission had recommended a record increase in the states’ share in the Union taxes. NEW DELHI: Finance Commission chairman N K Singh today said the panel will ascertain whether increasing the share of Union taxes to states to 42 per cent, along with rationalisation with Centrally Sponsored Schemes, has served its purpose. The 15th Finance Commission has been asked to recommend, among other things, a road map for sound management of government finances. “We will also look at whether the much higher devolution…

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How Indian Government Is Bridging Finance And Transaction Gaps In MSME Industry

Anita Roddick, a British businesswoman and founder of The Body Shop, once quoted, “If I had learned more about business ahead of time, I would have been shaped into believing that it was only about finances and quality management.” She pins down two key factors that drive business growth for entrepreneurs and understanding of ‘finance’ being the first one. Other growth factors like quality management, strategy, people, operations, risk management, customer centricity etc., may also be relevant. However, in this article, we will focus on the significance of finance and transactions as a…

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South Korea to Support ‘Normal’ Crypto Trading, Says Finance Watchdog

South Korea appears to be softening its stance on cryptocurrency trading. According to Yonhap News, Choe Heung-sik, governor of the Financial Supervisory Service, has said the government “will support [cryptocurrency trading] if normal transactions are made.” At a meeting with representatives from cryptocurrency exchanges, Choe also said the government will “encourage” banks to work with cryptocurrency exchanges, the report states. While brief, the statements will likely be seen positively by South Korea’s crypto community, as well as world markets, since the option to outright ban cryptocurrency exchanges had been mulled by…

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Aye Finance raises Rs 25 cr from Hinduja Finance & Intellegrow

Delhi-based MSME lending platform Aye Finance has raised Rs 25 crore from Hinduja Leyland Finance and Intellegrow. This is the second securitisation deal for the company. Last year it had raised Rs 10 crore by securitising part of its portfolio. Sanjay Sharma, Founder and Managing Director Aye Finance said, “The loan requirements of these businesses ranges between Rs 50,000 and Rs 5 lakh, which makes servicing these small ticket loans an expensive proposition. We at Aye have not only designed our processes and automation at minimum cost but we have also partnered with…

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Labour Party leader says UK finance sector will be ‘servant of industry’ under Labour government

Britain’s financial sector will be “the servant of industry not the masters of us all” if the opposition Labour Party gets into power, its leader Jeremy Corbyn will say on Tuesday, accusing bankers of taking the economy hostage. Corbyn, a socialist who has won over many voters with his promises to re-nationalize services and increase public spending, has long targeted London’s lucrative financial sector, saying politicians have been in thrall of money makers for too long. In a speech to a manufacturers’ conference, Corbyn will renew his pledge to re-balance Britain’s…

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Budget 2018: Finance Minister decides to invest in higher education and quality of education

While announcing his budget 2018 Finance Minister Arun Jaitley announced various benefits for students and education sector in India. The finance minister proposed to launch ‘‘Revitalising Infrastructure and Systems in Education (RISE) by 2022’’ with a total investment of Rs 1,00,000 crore in next four years. This will aim at step up investments in research and related infrastructure in premier educational institutions, including health institutions. This is in line with imparting quality education to the students in the country. The Union Budget 2018 further mentioned that the Higher Education Financing Agency (HEFA) would be…

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Property and premium finance boost Close Brothers loan book

Please use the sharing tools found via the email icon at the top of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here. UK merchant bank Close Brothers Group posted a 1.4 per cent rise its loan book over the three months to 31 October, boosted by strong growth in its property and premium finance…

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Can paperless finance technology increase household income in India?

The Reserve Bank of India (RBI) committee looking into household finance has several fascinating takeaways into what impedes Indian families from saving, insuring, and investing better. Headed by Tarun Ramadorai, professor of Financial Economics at Imperial College London, the committee report says households can significantly augment their annual income if they had access to formal financial institutions and products, and that technology has a key role to play in ensuring this access. A good money management plan can help augment a household’s income. The household finance report determines this augmentation…

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In finance, what is Leveraged buyout?

This refers to a financial transaction wherein a company is acquired by another, predominantly through the use of debt. Leveraged buyouts, by allowing companies that lack sufficient investment capital to use borrowed capital to acquire other large businesses, are said to facilitate large financial transactions. Many leveraged buyouts, however, fail eventually when the cash earnings from the acquired business fail to justify the debt payments incurred over a number of consecutive years. Since the lender is subject to substantial financial risk, it is not unusual to see the acquired business…

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