New Delhi: Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) next week to discuss various issues, including progress on credit offtake. The meeting, scheduled to be held on October 14, is expected to review fund flow to stressed NBFC and MSME (micro, small and medium enterprises) sectors, sources said. Banks are expected to …
New Delhi: French automaker Citroen on Wednesday has entered into a white-label arrangement with Axis Bank, as a preferred Banking partner, to introduce Citroen Finance in India. Citroen Finance will provide retail finance and mobility solutions including value added products to its customers and customised credit solutions to its dealers in India, the company said in a statement. Roland Bouchara, Senior Vice President …
The share price of Indiabulls Housing Finance Ltd (IBHFL) crashed nearly 38% intraday to hit a fresh 52-week low today after Reserve Bank of India put private sector lender Lakshmi Vilas Bank under its prompt corrective action (PCA) plan. The development places the prospects of their prolonged merger into jeopardy. Indiabulls Housing Finance stock opened today with a loss of …
The information technology (IT) and financial services sectors emerged as the top job providers, jointly accounting for over 50 percent of all hiring in India, says a new study by investment group CLSA, titled ‘Boardroom nectar — distilling the essence of India’s annual reports’. The study, which analysed 250 listed companies, showed that both sectors also topped at hiring women. …
The 15th Finance Commission on Sunday held meetings with representatives of Rajasthan’s Panchayati Raj institutions, urban development bodies, trade and industry, and economists as part of its consultation process for making recommendations for the 2020-25 period. According to an official release, the commission headed by chairman NK Singh along with its members and senior officials met with the representatives of …
The government on Friday announced a slew of measures to ensure that loans for home, vehicles and consumer goods become cheaper and widely available through banking and non-banking finance companies. Addressing the media here, Finance Minister Nirmala Sitharaman also said that banks will pass on RBI rate cut benefits to borrowers through MCLR reduction. She said that banks will launch repo …
SREI Equipment Finance (a wholly owned subsidiary of Srei Infrastructure Finance) is issuing secured Non Convertible Debentures (NCDs) with interest rates (technically called coupons) up to 10.65%. The company’s overall NCD programme as covered by the shelf prospectus is to raise an amount up to Rs1,700 crore. In this tranche however, the company is seeking to raise Rs100 crore from the …
Shares of Ujjivan Financial Services fell nearly 8 percent on Monday after the company filed a draft red herring prospectus with the Securities and Exchange Board of India (Sebi) to list its subsidiary Ujjivan Small Finance Bank (USFB). The stock fell as much as 7.8 percent to Rs 261.70 per share on BSE. At 9:25 am, the stock was trading 4.4 …
Ujjivan Small Finance Bank is planning an initial public offering to raise Rs 1,200 crore. The company on August 16 filed a draft red herring prospectus with SEBI. “Ujjivan Small Finance Bank is proposing to undertake an initial public offering of equity shares of face value of Rs 10 each, comprising a fresh issue of equity shares by bank aggregating up …
The Ministry of Finance is hiring 7 consoultant and 7 young professional Ministry of Finance recruitment: The Ministry of Finance released the official notification for the recruitment process of Young Professional and Consultant Posts on its official website. Candidates who wants to apply for the posts can apply online by today. The official website for the Ministry of Finance is finmin.nic.in. …