Finance News

NIIF, India’s first state-backed fund, faces questions from government When India launched its first state-backed investment fund in 2015, the project was met with great enthusiasm. Officials hoped to raise billions of dollars to improve the nation’s infrastructure and attract foreign manufacturers, angling for the success of funds started in places like Singapore. But India’s ...

Shriram Finance to grow its retail fixed deposits portfolio by 25% One of the country’s largest non-banking finance company (NBFC) Shriram Finance Ltd plans to grow its fixed deposits from the current Rs 32,000 crore and talks are on to raise long term funds from international markets, said Umesh Revankar, Vice Chairman. According to him, ...

BFSI Summit: India projected to be sixth largest insurance market by 2032 | Irdai member India has a huge untapped population which doesn’t have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said ...

YES Bank transfers invoked shares of 7 cos including Dish TV to JC Flowers Yes Bank has transferred invoked shares of seven companies, including Dish TV, Asian Hotels (North) and Avantha Realty, to JC Flowers Asset Reconstruction, which has been assigned to recover debt worth over Rs 48,000 crore of the private sector lender. The ...

BoM raises Rs 880 crore through bonds; issue subscribed more than 4 times State-owned Bank of Maharashtra (BoM) on Thursday said it has raised Rs 880 crore through Basel III-compliant Additional Tier 1 (AT1) bonds. The issue, including green shoe option of Rs 680 crore, was subscribed more than four times against base size of ...

SBI Funds Management appoints Shamsher Singh as new MD, CEO of company SBI Funds Management Ltd on Thursday said it has appointed Shamsher Singh as managing director and chief executive officer of the company. Singh, who was deputy managing director at State Bank of India (SBI), has taken over the charge from Vinay M Tonse ...

Baroda BNP Paribas AMC collects over Rs 1,234 cr for new multi asset fund Baroda BNP Paribas Mutual Fund has garnered more than Rs 1,200 crore during the new fund offer period for its latest multi asset fund. The new fund, which was opened from November 28 to December 12, has mobilised Rs 1,234 crore ...

Regulatory changes may bring new dawn for insurers: BFSI Summit panelists The regulatory changes brought in by the insurance regulator and the amendments proposed to the Insurance Act by the Centre may herald a new dawn for the sector in India. This may result in insurers bringing out more consumer-led products, top honchos of general insurance companies ...

Persistency ratio must improve for life insurance customers: CEOs at BFSI In order for life insurance customers to attain maximum benefits, it is crucial for the persistency ratio to be far higher than its current level, top executives of the industry said at the Business Standard BFSI Insight Summit on Thursday. The persistency ratio is ...

Why is the RBI Guv worried about cryptocurrencies? Business Standard’s BFSI Insight Summit kicked off on Wednesday with a keynote fireside chat with the RBI Governor Shaktikanta Das, moderated by consulting editor Tamal Bandhopadhyay. Excerpts here