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CSR violations not to be treated as criminal offence: Finance Minister

The corporate affairs ministry would review the sections concerned under the Companies Act, she said. Industry has expressed concerns over penal provisions for non-compliance with Corporate Social Responsibility (CSR) requirements in the amended Companies Act, 2013. Addressing the media on measures to boost the economy, Sitharaman said the government respects and honours wealth creators. “CSR violations… not be be treated ... Read More »

AU Small Finance Bank launches account opening on WhatsApp

AU Small Finance Bank has rolled out its Savings Bank Account opening process initiated with WhatsApp. This service is powered by Karix Mobile using an advanced multi-channel conversational and compute platform. Using Karix’s versatile platform, the Bank’s interested customers will be able to initiate the opening of their savings account in less than 5 minutes using an interactive chat-like interface ... Read More »

Muthoot Finance zooms on planning to raise funds

Muthoot Finance is currently trading at Rs. 621.25, up by 9.10 points or 1.49% from its previous closing of Rs. 612.15 on the BSE. The scrip opened at Rs. 600.00 and has touched a high and low of Rs. 626.80 and Rs. 600.00 respectively. So far 2048 shares were traded on the counter. The BSE group ‘A’ stock of face ... Read More »

PNB Housing Finance raises $75 million ECB from Sumitomo Mitsui Banking Corporation

PNB Housing Finance has raised fresh $75 million External Commercial Borrowing (ECB) from Sumitomo Mitsui Banking Corporation (SMBC) Singapore. The ECB is under the Reserve Bank’s automatic route of approval and the proceeds will be used by the Company as per the applicable RBI guidelines. PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They ... Read More »

AU Small Finance Bank ties up with Motilal Oswal Financial Services

AU Small Finance Bank has tied up with Motilal Oswal Financial Services (MOFSL) to offers 3-in-1 account having Savings, DEMAT and trading facilities in its continuous efforts to enrich its account holders with more options. AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused non-banking finance company (NBFC), which primarily ... Read More »

15th Finance Commission meets representatives of Chhattisgarh PRIs

The 15th Finance Commission headed by Chairman  N.K. Singh alongwith its Members and senior officials met today with the representatives of the Panchayati Raj Institutions (PRIs) of Chhattisgarh. The Commission was informed that all 29 functions of PRIs as envisaged in the 11th schedule of the Constitution, have been devolved to PRIs in Chhattisgarh and the accounts are maintained upto 2017-18 ... Read More »

RBI Governor meets Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman was on Monday briefed the RBI’s central board on Budget measures. RBI Governor Shaktikanta Das was also present at the meeting.  The Minister highlighted the key points of the budget, including the fiscal consolidation roadmap.  Speaking to news persons after the briefing, Shaktikanta Das said that Reserve Bank Governor Shaktikanta Das Monday said the central ... Read More »

L&T Finance Holdings trades higher on the BSE

L&T Finance Holdings is currently trading at Rs. 121.75, up by 1.65 points or 1.37% from its previous closing of Rs. 120.10 on the BSE. The scrip opened at Rs. 122.60 and has touched a high and low of Rs. 122.60 and Rs. 121.20 respectively. So far 31291 shares were traded on the counter. The BSE group ‘A’ stock of ... Read More »

Reliance Home Finance extends maturity of certain NCDs worth Rs 400 crore

Reliance Home Finance has extended maturity of certain Non-convertible debentures (NCDs) of Rs 400 crore till October 31, 2019 in view of continuing severe liquidity crisis in the sector. The extension of maturities by mutual consent is a recognised global practice to deal with severe dislocations in capital markets, and does not in any sense constitute a default. The extension ... Read More »

ICICI Bank partners with IndoStar Capital Finance

ICICI Bank and IndoStar Capital Finance have entered into a sourcing and servicing arrangement to partner in extending credit to small and medium fleet owners to purchase used and new commercial vehicles. Under this partnership, IndoStar Capital Finance will originate and service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing and in turn ICICI ... Read More »

Manappuram Finance acquires 92.6% stake in Manappuram Comptech & Consultants

Manappuram Finance has completed acquisition of 92.6% of Equity Shares of Manappuram Comptech & Consultants by way of purchase of 25000 shares at Rs 365.37 per share, for the total consideration of Rs 91.34 lakh. Acquisition of remaining 7.4% (2000 Equity Shares) is in process and will be completed by August 31, 2019. Manappuram Finance is a non-deposit taking NBFC ... Read More »

SRG Housing Finance receives refinance assistance from National Housing Bank

SRG Housing Finance has received refinance assistance from National Housing Bank of Rs 5 crore under refinance scheme. The Company has accepted the terms and conditions of the sanction letter. SRG Housing Finance is a housing finance company. The company is engaged in providing home loans for construction, additions, alterations, and repair and renovation purpose. WhatsApp Facebook Twitter Download Udaipur ... Read More »

PTC India Financial Services inks MoU with SREI Infrastructure Finance

PTC India Financial Services has signed a Memorandum of Understanding (MoU) with SREI Infrastructure Finance. This partnership aims to facilitate financing, syndication, and advisory services in the fast growing Energy Value Chain across industries in India. PTC India Financial Services is an Indian non-banking financial institution. The company makes principal investments in, and provides financing solutions for, companies with projects ... Read More »

L&T Finance Holdings’ arm launches ‘Sabse Khaas Loan’ for two-wheeler customers

L&T Finance Holdings’ subsidiary–L&T Finance has unveiled ‘Sabse Khaas Loan’ scheme for two-wheeler customers. The scheme not only provides hassle-free and low-cost finance for two-wheelers but also eliminates the need for hypothecation of vehicle to the financier over the tenure of the loan. L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services ... Read More »

Mahindra Finance raises Rs 900 crore though NCDs

Mahindra & Mahindra Financial Services (Mahindra Finance) has raised funds worth Rs 900 crore. The duly authorized Committee of the company, at their meeting held on May 30, 2019, has approved the allotment of 9,000 Secured Redeemable Principal Protected Non-Convertible Market Linked Debentures (NCDs) of the face value of Rs 10,00,000 each, at par, aggregating to Rs 900 crore. Mahindra ... Read More »

L&T Finance Holdings to raise up to Rs 100 crore on private placement basis

L&T Finance Holdings will raise up to Rs 100 crore by issuing compulsorily redeemable securities on private placement basis. The company’s committee of directors has approved an offer for issuing up to 1 crore cumulative compulsorily redeemable non-convertible preference shares (CRPS) to raise up to Rs 100 crore. L&T Finance Holdings is a financial holding company offering a diverse range ... Read More »

Repco Home Finance sees 12% growth in overall loan book in FY19

Repco Home Finance has reported overall loan book rose 12% to Rs 11,036.8 crore at the end of March 2019. The company’s loans to the self-employed segment accounted for 54.1% of the outstanding loan book and loans against property product accounted for 18.4% of the same. Repco Home Finance is into the business of providing long term loan financing for ... Read More »

Vakrangee partners with Lendingkart Finance

Vakrangee has entered into a partnership with Lendingkart Finance, for offering distribution of business loan through its Nextgen Vakrangee Kendras. These Nextgen Vakrangee Kendras exclusively offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance and logistics. With 68% of its Nextgen outlets in Tier-5 and 6 towns, Vakrangee will make available quick collateral-free business ... Read More »

Oriental Bank of Commerce joins hands with Srei Equipment Finance

Oriental Bank of Commerce has joined hands with Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, to offer loans for purchase of equipment under a co-lending arrangement. The partnership will allow Srei Equipment Finance and Oriental Bank of Commerce to collaborate, co-operate and widen their respective markets and customer base. Financing of construction, mining and allied equipment (CME), ... Read More »

Indiabulls Housing Finance to raise $350 million

Indiabulls Housing Finance has received approval for issuance of $350 million 6.375% payable semi-annually (6.29% nominal monthly) Senior Secured Notes due May 2022 under the updated $1,500 million Secured Euro Medium Term Note Programme of the Company. The bond issue committee of the Board of Directors of the Company at its meeting held on May 21, 2019 has approved the ... Read More »

IndoStar Capital Finance to raise Rs 10,000 crore via NCDs

IndoStar Capital Finance has received approval for issuance of Non-Convertible Debentures (NCDs) for an amount not exceeding Rs 10,000 crore on private placement basis, in one or more series / tranches during a year. The Board of Directors of the Company at its meeting held on May 20, 2019 has approved the same. IndoStar Capital Finance is a non-banking finance ... Read More »

Benchmarks bounce back on bargain-hunting; IT, finance stocks sparkle

After trading on a tepid note throughout the session, the BSE Sensex surged in the last hour of trade to finish at 37,393.48, up by 278.60 points, or 0.75 per cent. Similarly, the broader NSE Nifty rose 100.10 points, or 0.90 per cent, to settle at 11,257.10. IT, financial and banking stocks saw robust buying. Bajaj Finance was the biggest ... Read More »

Bajaj Finance rises on allotting NCDs worth Rs 75 crore

Bajaj Finance is currently trading at Rs. 3039.00, up by 36.45 points or 1.21% from its previous closing of Rs. 3002.55 on the BSE. The scrip opened at Rs. 3006.50 and has touched a high and low of Rs. 3060.00 and Rs. 3006.50 respectively. So far 100104 shares were traded on the counter. The BSE group ‘A’ stock of face ... Read More »

Muthoot Finance shines on reporting marginal rise in Q4 net profit

Muthoot Finance is currently trading at Rs. 573.00, up by 26.15 points or 4.78% from its previous closing of Rs. 546.85 on the BSE. The scrip opened at Rs. 550.00 and has touched a high and low of Rs. 575.95 and Rs. 550.00 respectively. So far 80023 shares were traded on the counter. The BSE group ‘A’ stock of face ... Read More »

15th Finance Commission Chairman holds meeting with 13 Banks

The meeting raised issues regarding the cost of borrowings of the Centre and States, recapitalization of banks and their impact and modalities for ensuring that the borrowing cost becomes increasingly market-driven. WhatsApp Facebook Twitter 15th Finance Commission Chairman holds meeting with 13 Banks appeared first on Udaipur News | Udaipur Latest News | udaipur local news. Read More »

NHB gives nod to DHFL to sell entire stake of Aadhar Housing Finance

Dewan Housing Finance Corporation (DHFL) has received an approval from the National Housing Bank (NHB) to sell its entire stake of 9.15% in Aadhar Housing Finance to Blackstone’s arm. The divestment of the company’s stake in Aadhar is expected to be completed shortly. DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing ... Read More »

LIC Housing Finance spurts on reporting 17% rise in Q4 net profit

LIC Housing Finance is currently trading at Rs. 485.40, up by 0.30 points or 0.06% from its previous closing of Rs. 485.10 on the BSE. The scrip opened at Rs. 476.50 and has touched a high and low of Rs. 490.00 and Rs. 464.70 respectively. So far 112748 shares were traded on the counter. The BSE group ‘A’ stock of ... Read More »

Moneyboxx Finance opens branch offices in Rajasthan

Moneyboxx Finance has got its branch offices opened/operational at Behror and Beawar in the State of Rajasthan. Moneyboxx Finance is a Non Deposit taking Non-systemically Important Non Banking Finance Company (NBFC-ND-NSI) engaged primarily in the business of advancing loans and investing/trading in securities. WhatsApp Facebook Twitter Moneyboxx Finance opens branch offices in Rajasthan appeared first on Udaipur News | Udaipur ... Read More »