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Pakistan’s Finance Minister Asad Umar resigns

Umar recently returned from a trip to the US in which the details of Pakistan’s next IMF bailout were discussed.  He said, as part of a Cabinet reshuffle, Prime Minister Imran Khan desired him to take the Energy Minister portfolio instead of Finance. However, he obtained Khan’s consent to not take any cabinet position. Imran Khan-led government and Umar, in ... Read More »

Manappuram Finance gains on signing MoU with Autolite India

Mumbai : Manappuram Finance is currently trading at Rs. 119.70, up by 0.55 points or 0.46% from its previous closing of Rs. 119.15 on the BSE. The scrip opened at Rs. 119.45 and has touched a high and low of Rs. 120.70 and Rs. 118.85 respectively. So far 60279 shares were traded on the counter. The BSE group ‘A’ stock ... Read More »

US welcomed India’s participation in efforts to counter terrorism finance

India and the United States has underlined the need for Pakistan to take meaningful, irreversible and verifiable action against terrorists and terror groups operating from its soil. The two countries exchanged views on threats posed by international terrorist organisations during the US-India Counterterrorism Joint Working Group and Designations Dialogue that concluded in Washington. While the US delegation was led by ... Read More »

GRUH Finance receives no-objection from NHB for merger with Bandhan Bank

GRUH Finance has received receipt of ‘No-objection’ from NHB for the proposed scheme of amalgamation of GRUH Finance into and with Bandhan Bank. The company has also received receipt of ‘No Objection’ from the Reserve Bank of India (RBI) for the proposed scheme of amalgamation by Bandhan Bank. GRUH Finance is a Housing Finance Company recognized by National Housing Bank. ... Read More »

Bajaj Finance launches Bajaj Finserv Flexi Loan for CAs

Bajaj Finance has launched new Bajaj Finserv Flexi Loan for Chartered Accountants (CAs) to restore cash flow to optimal levels. Bajaj Finserv Flexi Loan for CAs provides solutions to all financing needs. It requires no collaterals or guarantors and promises a 24-hour disbursal prior to approval of the application. With loans up to Rs 35 lakh, CAs can use this ... Read More »

Sri Lanka : Finance Minister Mangala Samaraweera presents Budget proposal for 2019

The minister said over 30,000 entrepreneurs have benefitted from Enterprise Sri Lanka programme while funds amounting to around Rs 60 billion have already been released for this loan scheme. He said the scheme will be broadened and spread further while programmes will be implemented across the island to educate the masses. Keeping in view the elections later this year, the ... Read More »

Bajaj Finance offers 9.10% return on FD to senior citizens

Bajaj Finance Fixed Deposit (FD) has emerged as the best offering with a high-interest rate of 8.75%, which goes up to 9.10% for senior citizens. Bajaj Finance FD enable a retiree to build long-term wealth by providing a stable, high yielding fixed income asset. Bajaj Finance, the lending and investment arm of Bajaj Finserv group, is one of the most ... Read More »

Finance Minister addresses post-Budget meeting of RBI Central Board

RBI governor Shaktikanta Das told the media  that he will meet the heads of public and private sector banks on feb 21st to discuss the pass over of the interest rate cut it had announced to borrowers.  On the issue of merger of banks Jaitley called for the need for fewer and mega banks that are strong. In addition to associated banks ... Read More »

Finance Minister presents Interim Budget 2019

He reached the North Block in the morning.  The government is likely to announce several welfare measures for various sections of society.  Chairman of Economic Affairs Council of CII, Vinayak Chatterjee said he expects more announcement for addressing farm distress and budgetary provisions for the social sector. WATCH the first and EXCLUSIVE interview of Finance Minister Piyush Goyal after presentation of Interim Budget ... Read More »

Finance Minister to present Interim Budget 2019 today

The government is likely to announce several welfare measures for various sections of society.  Chairman of Economic Affairs Council of CII, Vinayak Chatterjee said he expects more announcement for addressing farm distress and budgetary provisions for the social sector.  Read More »

Finance Minister to present Interim Budget today

The government is likely to announce several welfare measures for various sections of society.  Chairman of Economic Affairs Council of CII, Vinayak Chatterjee said he expects more announcement for addressing farm distress and budgetary provisions for the social sector.  Read More »

India Ratings downgrades rating of PNB Housing Finance’s NCDs

Credit Rating Agency, India Ratings has downgraded rating of PNB Housing Finance’s Non-Convertible Debentures (NCDs) worth Rs 280 billion to ‘AA+/Stable’ from ‘AAA/RWN’. The NCDs include Rs 10 billion sub-limit for the subordinate debt programme. PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, ... Read More »

Finance Minister Arun Jaitley slams opposition over Rafale deal case

Some who were part of the ideological left and the ultra-left obviously found the NDA government wholly unacceptable. Hence emerged a new class of Compulsive Contrarians, who run perpetual propaganda. These Compulsive Contrarians picked holes in every proposal that empowered people or strengthened country. On Rafale, he has written The purchase of Rafale Combat Aircraft is yet another case of ... Read More »

Bajaj Finance raises Rs 1,495 crore via NCDs

Bajaj Finance has raised Rs 1,495 crore through allotment of 14950 Secured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 10 lakh each. The Debenture Allotment Committee of the company at its meeting held on January 09, 2019 allotted the same. The tenor of the instrument is 2556 days. Bajaj Finance, the lending and investment arm of Bajaj Finserv ... Read More »

Manappuram Finance’s arm securitises microfinance portfolio

Manappuram Finance’s subsidiary– Asirvad Microfinance has securitised its microfinance portfolio amounting to Rs 250 crore with a public sector bank. This securitisation is the eighth tranche for the current financial year and the total pool securitised with different bank amounts to Rs 611 crore. The company has raised funds through term loans from banks and leading non-banking finance companies and ... Read More »

Finance ministry approves NMDC’s Rs 1,000 crore share buyback plan

NMDC has received an approval from the finance ministry for the share buyback plan worth Rs 1,000 crore. The timeline for the launch of the offer will be decided by NMDC’s board. NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry ... Read More »

Mahindra Finance to allot NCDs worth Rs 16.70 crore

Mahindra & Mahindra Financial Services (Mahindra Finance) has received an approval for the allotment of 167 Secured Redeemable Principal Protected – Market Linked Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each, at a premium, aggregating to Rs 16.70 crore. The duly authorised committee at its meeting held on December 27, 2018, approved the same. Mahindra Finance one ... Read More »

SEBI refuses to grant stay on forensic audit of Inter Globe Finance

The Securities and Exchange Board of India (SEBI) has refused to grant a stay on the forensic audit of Inter Globe Finance, which is suspected to be a shell company. Earlier, SEBI had directed the stock exchanges to appoint a forensic auditor to verify any misrepresentation of financials and business of Inter Globe Finance and its subsidiaries as well as ... Read More »

Bajaj Finance raises Rs 1189.30 crore via NCDs

Bajaj Finance has raised Rs 1189.30 crore through allotment of 11893 Secured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 10 lakh each. The Debenture Allotment Committee of the company at its meeting held on December 27, 2018 allotted the same. Bajaj Finance, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs ... Read More »

Ladderup Finance gets nod to invest in Godland Resorts

Ladderup Finance has received approval from its board for investment in Godland Resorts by way of allotment of 75,001 fully paid up equity shares of face value Rs 10 each for a total consideration of around Rs 2.73 crore. This represents 50% of the total equity share capital, which makes Godland Resorts subsidiary of the company. Ladderup Finance is belongs ... Read More »