IDBI

The proposed combination entails LIC AMC's acquisition of the rights to manage and administer the schemes of IDBI MF from IDBI AMC

IDBI Trusteeship Services Ltd (ITSL) on Tuesday said it has commenced operations at the Gujarat International Finance Tec-City (GIFT City). In a statement, Padma Betai, MD and CEO of IDBI Trusteeship Services Ltd, said operating business from GIFT City tends to be cost-efficient as against high costs attached to maintaining overseas offices and will be a game changer in terms of revenues for the trusteeship business. Going forward, the entity will also offer facility agent services to IFSC banking units for their External Commercial Borrowings (ECB) transactions, trusteeship services to Non-Convertible Debentures (NCDs) and Alternative Investment Funds (AIFs), and escrow agency services for cross border Mergers and Acquisitions (M&A) transactions. "We are witnessing significant interest from distinctive business verticals to set up their operations in GIFT City and creating benchmarks in providing a conducive business ecosystem to financial institutions at par with global ...

Having spent nearly two decades at the country's largest bourse, Ramamurthy is among the early architects of NSE and understands all the cogs of the exchange wheel like only a few others

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Merger between LIC Mutual Fund and IDBI Mutual Fund is at a "fairly advanced stage", a top official said on Thursday. "The process is on, it is at a fairly advanced stage," LIC MF's managing director and chief executive T S Ramakrishnan told reporters, when asked about reports of the merger. Recent media reports have said that LIC Mutual Fund plans to absorb IDBI Mutual Fund following a regulatory diktat barring a single promoter from owning more than 10 per cent stake in two asset management companies. IDBI Bank, the parent of IDBI MF, is majority owned by LIC for the last few years. Ramakrishnan added that as and when LIC MF, the 22nd largest MF in the country with over Rs 18,000 crore in assets under management, is in a firm comment on the merger process, it will inform everybody. According to reports, there were two attempts to sell IDBI Mutual Fund that could not be successful, and it resulted in the merger with a company owned by the same parent. Meanwhile, Ramakrishnan said

The Issue will open for subscription on Monday, September 5 and closes on September 22

The government sees banks and large non-banking financial companies as the most suitable contenders to participate in the sale of IDBI Bank

With LIC IPO being top priority, other plans take back seat

Total outstanding borrowings from banks/financial institutions are Rs 1,194 crore

This association will help IDBI Intech access global markets where it aims to leverage the significant reach that Lemon Advisors brings on board, across the geographies in Southeast Asia, Japan, Austr

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The RBI has turned down the proposal of Muthoot Finance to acquire IDBI Bank's mutual fund business, saying sponsoring a mutual fund is not in consonance with the activity of an operating NBFC. According to a regulatory filing by IDBI Bank on Tuesday, a share purchase agreement with regard to sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019. "The agreement was entered into by and between Muthoot Finance, IDBI Bank, IDBI Capital Markets & Securities, IDBI Asset Management and IDBI MF Trustee Company...for acquisition by Muthoot Finance of 100% equity shares of IDBI Asset Management held by IDBI Bank and its nominees and IDBI Capital Markets & Securities, and 100 % equity shares of IDBI MF Trustee Company held by IDBI Bank and its nominees," it said. This was subject to receipt of necessary regulatory approvals from the Securities and Exchange Board of India (Sebi) and other regulators. "As advised by Muthoot Finance, we (IDBI Bank) would like to ...

The first quarter of FY21 was a rough one for life insures because NBP contracted 18.64 per cent to Rs 49,335 crore against Rs 60,637 crore in Q1FY20 due the lockdown.

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A total of 295 companies, including BHEL, IDBI, Arvind Fashions, and Greenply, are scheduled to announce their December quarter numbers today

Before setting up any new development bank, the govt must examine the contribution and performance of the existing ones

According to sources, 190-200 employees at IDBI AMC have raised concerns over job continuity

Indiabulls MF saw its average asset size shrink 50 per cent; PGIM India MF and IDBI MF saw around 20 per cent reduction

Bank has reshuffled portfolios of executive directors to ensure smooth working of institution.

DHFL is currently going through debt resolution process under the inter-creditor agreement led by banks

Out of Rs 9,000 crore, the government will provide Rs 4,557 crore as one-time re-capitalisation to IDBI Bank, Javadekar said