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 …
The hue and cry last year over the ToR with regard to use of 2011 population, prompted PM Modi to announce that the Centre has suggested to the commission to “consider incentivising the states who have worked on population control.” The 15th Finance Commission (FC) may assign a lower weight to ‘population’ than 17.5% by the previous FC while giving …
Financial accounting is crucial for any company’s existence. A financial executive or financial analyst is required to manage revenue accounts, and can be a part of the company’s short and long-term business strategies, investments, and other decisions. A finance executive’s job include keeping track of financial transactions, preparing financial reports, reviewing statements, preparing accounting ledgers and performing various other finance-related tasks. If you are …
Aye Finance, CapitalG backed fintech lender, has announced plans for aggressive Pan-India expansion in the current fiscal. After a successful year which saw Aye reaching a milestone AUM figure of INR 1000 crores, the fintech lender will be opening 67 new branches to service the credit needs of a larger number of Indian micro enterprises. Aye has been rapidly expanding …
New Delhi: Ajay Piramal-controlled Piramal Enterprises Ltd on Monday sold its entire stake of about 10% stake in commercial vehicle financier Shriram Transport Finance Co Ltd., citing a “broader strategy” to leverage opportunities for growth in its financial services business. As of 31 March, Piramal held 22.6 million shares in Shriram Transport, which specialises in financing second-hand trucks, representing a 9.96% …
On-tap licensing is a time-efficient feature that will allow parties to obtain the licence on-demand basis and eligible parties won’t have to wait. The Reserve Bank of India (RBI) will issue draft guidelines for ‘on-tap’ licensing of Small Finance Banks (SFB) by the end of August 2019 with a view to enhance supply of credit to small borrowers and encourage …
NEW DELHI: The next wave of bank consolidation is planned during the October-December quarter of the current fiscal with the Finance Ministry starting to seek information from PSBs on possible targets for amalgamation/mergers and acquisitions with justification on how such an initiative will synergise operations and strengthen the bank. Government sources said that heads of all public sector banks (PSBs) …
With summer just around the corner, you’re probably wanting to go and spend sometime outdoors. Winter’s departure is long overdue, and you may have even forgotten about some of the summer essentials you’ll need for even the most basic day travel — sunglasses, for example, which are so easy to forget about but their absence can turn even a stroll …
The finance ministry is reworking strategic sale procedure to ensure outright sale of CPSEs within 4 months of issuance of documents to potential investors, a move aimed at ensuring speedier conclusion of the entire process, an official said. However, for CPSEs like Air India, which are relatively bigger in size, the timeline for completion of strategic sale is likely to be fixed at …
President Donald Trump speaks to the “Rx Drug Abuse and Heroin Summit,” Wednesday, April 24, 2019, in Atlanta. (AP Photo/Evan Vucci) ASSOCIATED PRESS Tim Carney begins his fascinating and challenging book Alienated America with Donald Trump’s campaign-launch pronouncement that, “Sadly, the American Dream is dead.” Carney marshals a wealth of evidence, both systematic and impressionistic, that confirms that for many Americans, this …