Saturday , 23 October 2021
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Finance Ministry implores banks to boost RuPay, UPI infra: Report

Reinforcing its push for cashless transactions, the Finance Ministry has asked banks to ensure that they have appropriate infrastructure in place to support RuPay and UPI modes, The Times of India reported. This comes after Finance Minister Nirmala Sitharaman announced in November 2019 that businesses with a turnover of above Rs 50 crore would have to provide customers digital payment modes ... Read More »

Four personal finance lessons from two women

This week’s story is about the four building blocks of personal finance and two women. One is an elderly aunt, widowed and alone. The other is a divorced niece, with a young child to take care of. The aunt lives in a flat her husband left her, and is fighting off the daughter-in-law who wants it badly. The widow’s pension she gets ... Read More »

Reliance Home Finance seeks lenders’ nod to repay bondholders in January

MUMBAI: The troubled Anil Ambani Group’s mortgage finance arm Reliance Home Finance on Wednesday sought permission from banks to repay Rs 91.78 crore to its retail bondholders due next month. The company owes Rs 91.78 crore, includes both principal and the interest, to 19,964 retail bondholders but is unable to pay because of a restraint placed by the lenders as it is undergoing is a bank-led ... Read More »

Ujjivan Small Finance Bank share allotment likely today: How to check

NEW DELHI: After a stellar 166 times subscription to its initial public offering (IPO) that saw frenzied bids from investors across segments, Ujjivan Small Finance Bank is ready to make its market debut, most likely on December 12. The IPO, which got fully subscribed on the first day itself, saw an overall 165.68 times subscription by end of third and ... Read More »

Xiaomi bets big on financial services in India

NEW DELHI: Chinese handset maker Xiaomi said it aims to become one of the largest financial-technology companies in India through its Mi Credit lending service and Mi Pay application and the expansion of its financial product portfolio with new services such as insurance and supply chain financing, which it already offers in China. It has started talks with banks and more nonbanking financial companies ... Read More »

Ujjivan Small Finance Bank’s strong fundamentals offer some safety

Brokerages have recommended subscribing to the IPO of Ujjivan Small Finance Bank as it has been priced at a significant discount to its peers owing to its strong fundamentals. Angel Broking, Geojit Securities, ICICIdirect and NVS Wealth Managers have given a ‘subscribe’ rating to the issue. The Rs 750-crore IPO will open on Monday and close on Wednesday with its ... Read More »

Express Adda: Finance minister Nirmala Sitharaman to be guest today

Nirmala Sitharaman Steering the economy out of a deepening slowdown and putting it back on a high growth trajectory has been the single most important task for finance minister Nirmala Sitharaman since she took charge of the key portfolio in May. On Tuesday, Sitharaman will be the guest at the Express Adda in Mumbai on Tuesday. The Express Adda is ... Read More »

Private banks, finance entities see no problem of liquidity: Nirmala Sitharaman

Finance minister Nirmala Sitharaman (File photo: PTI) NEW DELHI: Private sector banks have said that there is no problem of liquidity and enough demand for loans exists, finance minister Nirmala Sitharaman said on Thursday, while asserting that the economy will revive in second half of the financial year as consumption takes off and banks raise their lending. “On the whole, it was ... Read More »

How The Finance Prof Who Discovered The ‘Inverted Yield Curve’ Explains It To Grandma

NEW YORK, NEW YORK – AUGUST 14: A board displays the closing numbers on the floor of the New York Stock Exchange (NYSE) on August 14, 2019 in New York City. Following news of an economic slowdown in both Germany and China, concerns over a recession GETTY IMAGES On the morning of Wednesday, August 14, an unusual event took place ... Read More »

Ujjivan Small Finance Bank files draft papers for ₹1,200 crore IPO

NEW DELHI: Ujjivan Small Finance Bank has filed draft prospectus for ₹1,200 crore initial public offer with market regulator Securities and Exchange Board of India (Sebi). The bank is proposing to undertake an initial public offering of equity shares of face value of ₹10 each, comprising a fresh issue of shares aggregating up to ₹12,000 million ( ₹1,200 crore) in accordance with the Companies Act, 2013, ... Read More »