Page 3 - Financial Services

Ration shops to double up as financial service providers in Chhattisgarh

Besides banking correspondent services through tie-ups with banks, the shops will be allowed to sell other commodities and general store items

BFSI's share in India Inc's Q2 profits hits record high of 41.5%

The biggest gains came to banks, which reported a 35.8 per cent YoY growth rate in their combined net profit in Q2 FY23

Softbank to divest 29 mn shares in Paytm via block deals on Thursday

Floor price set at Rs 555, 8% discount to last close

South Korea's KB Group invests $100 mn in Elev8 Venture Partners Fund

Financing will help Elev8 identify investment opportunities in Indian technology companies

Edelweiss to slash wholesale loan book to Rs 2,900 crore in 2 years

In a filing with BSE, the company said improved macro environment and sell-down capabilities were driving faster book reduction

'Not possible to do away with repossession agents': Mahindra Finance MD

'Specialised people' needed to ensure loan defaulters don't cheat company, says Ramesh Iyer in interview

Global entities, fund managers keen to invest in India: IFSCA Chairman

Global entities and fund managers are keen to invest in India, Chairman of the International Financial Services Centres Authority (IFSCA) Injeti Srinivas has said, underlining the need to create a platform that intermediates global capital flows into the domestic economy. Srinivas is leading a delegation of senior officials from the International Financial Services Centre (IFSC) at GIFT City (Gujarat International Finance Tec-City), are currently in the US for meetings and roundtable discussions with American and global investors, banking and educational institutions for business opportunities. The delegation is on a visit to New York and Washington. "We had meetings with fund managers. They are all very keen to invest in India, Srinivas told PTI on Wednesday in an exclusive interview. He said the groups are happy to learn about various facilities available, apart from the regulatory comfort and overall financial ecosystem at GIFT. They were excited about the cooperation prospects

Chief labour commissioner to meet bank unions on proposed Nov 10 strike

Banks notices say normal services could get affected but they are taking action to keep work going

The irrelevance of regional rural banks

Scope of their survival is diminishing. Even as the overall business of rural financial institutions has generally been looking up, they are struggling to scale up business volumes

What is a regulatory sandbox?

Regulators SEwhat BI, RBI, IRDAI, IFSCA and PFRDA recently came together to allow an interoperable regulatory sandbox. But, what exactly is a regulatory sandbox? We explains it in this episode

Reliance Jio takes a bold call on financial services amid tough competition

By separating financial services from its core business through the listing, RIL wants to keep it at arm's length, which would be a necessary regulatory requirement for the financial services business

Jio Payments likely to become subsidiary of Jio Financial Services

Sources in the know say that this 70 per cent stake held by RIL will be transferred to JFS. SBI will continue to own the rest of the 30 per cent in RPB

EvolutionX Debt Capital makes maiden investment in PharmEasy parent firm

Debt financing platform's investment amount was not revealed; it will make equity infusion later

M&A recovery: Kotak Mahindra Bank plans to hire 20 investment bankers

The firm is looking to fill positions from analyst to director levels across sectors including financial services, health care and technology

We do much more than just enable payments: PayNearby CEO Anand K Bajaj

'We want to make India a more inclusive and empowered nation'

ESMA-Indian regulators logjam: European banks' loss may aid US peers

Foreign investors may switch to custodians backed by American banks for India exposure

K V Kamath is independent director of RIL, non-exec head of financial arm

Reliance Strategic Investments, of which he is the non-executive chairman, will be renamed Jio Financial Services Ltd, and will be listed on the bourses pursuant to a demerger scheme

Reliance Strategic Investments appoints K V Kamath as Independent Director

Kamath served as Chairman of Infosys. In 2015 he was appointed as the first President of the New Development Bank set up by the BRICS countries from where he retired in 2020

Multiples Private Equity likely to sell stake in APAC Financial Services

Multiples Alternate Asset had acquired the stake for Rs 250 crore in 2018

Infy may overtake Cognizant on revenue front after a decade, say analysts

Slow growth rate and execution challenges impact Cognizant Q4 performance