Finance

Govt plans lending reforms as bankers fear new bad debt crisis

India’s near $147 billion pile of soured loans is replete with examples of powerful and politically connected businesses who are accused of undermining rules to secure credit and then defaulting on loans. Photo: Mint New Delhi: Weeks after India unveiled a $32 billion bailout of state-run banks, top finance ministry officials and bankers will meet this weekend to discuss lending reforms ... Read More »

SBI ties up with Escorts to finance farmers for purchase of tractors

MUMBAI, OCT 23:   State Bank of India (SBI) on Monday said it has signed an agreement with Escorts Limited to finance farmers for purchase of Escorts Tractors. The aim of the tie-up with Escorts Limited is to promote, market and make accessible, organized finance facility at competitive interest rates to farmers, who wish purchase POWERTRAC and FARMTRAC Tractors manufactured by ... Read More »

Home Credit Finance India looks to grow white goods financing

The company, which has its roots in Prague, is aiming a credit portfolio of Rs 4000 crore by December 2017, as against Rs 1570 crore at the end of December 2016. Non-bank lender Home Credit India Finance, predominantly a mobile handset financier, is now looking to finance more TV sets and washing machines to grow its footprints in India. The lender ... Read More »

Piramal Housing Finance to raise Rs 400 cr via Commercial Paper

Ajay Piramal, chairman, Piramal Enterprises Piramal Housing Finance, which began operations last month, will lift its first market borrowings through Rs 400-crore commercial paper, a short-term money market instrument.   Rating agency ICRA has assigned ‘A1+’ rating to the housing finance company’s commercial paper.   ICRA said the company enjoys operational synergies with its parent Piramal Finance Ltd, thanks to PFL’s experience in real estate lending and the large ... Read More »

Is Yahoo a fintech company now?

Yahoo Finance, a division of the once dominant eponymous web portal, is the largest business news website in the US by monthly traffic. Now, it’s becoming more enmeshed in the business of finance through a partnership that will offer brokerage services directly via the Yahoo Finance app—a strategy that could be a sign of things to come for the rest of the ... Read More »

Swiss Finance Regulator Is ‘Investigating ICO Procedures’

Switzerland’s top financial markets regulator is investigating the practices behind an undisclosed number of initial coin offerings (ICOs). Though it didn’t name any specific token sales, the Swiss Financial Market Supervisory Authority said today that it is examining “a number of ICO cases to determine whether regulatory provisions have been breached.” Specifically, the regulator wants to see whether organizers of ICOs, who sell ... Read More »

The need for reforms in healthcare finance

The current ‘system’ of health financing is largely out-of-pocket payments, with tax breaks provided for health insurance. Photo: Mint The Centre and state governments are experimenting with several new and exciting ideas in healthcare reforms. What is missing, however, is a serious reform agenda for health financing. The last big reform was expanding the coverage of the Rashtriya Swasthya Bima ... Read More »

Reliance Home Finance to list on bourses on Friday

Reliance Home Finance (RHF), the demerged home finance business of Reliance CapitalBSE -0.99 %, is going to list on bourses on Friday this week (September 22). Reliance Capital shareholders would get a share of Reliance Home Finance for each share of Reliance Capital held. The parent company will still hold 51 per cent stake in RHF. The HFC managed Rs 13,022 crore assets ... Read More »

Explore These 3 Approaches to Create Your Own Pension Fund

Like flip phones and floppy disks, pensions are largely a thing of the past. According to an analysis from global advisory firm Willis Towers Watson, the percentage of Fortune 500 employers offering a defined benefit pension plan to new hires dropped from roughly 50 percent in 1998 to just 5 percent in 2015. Today’s workers are more often offered a ... Read More »

State Bank of India to unveil Project Lotus; here is how you can gain

Saves you interest even if you pay for a purchase in installments. And lets you sell shares or cherry-pick a mutual fund scheme. A superstore that gives you exclusive deals when you shop for shoes or smartphones. Lets you check out homes within your budget. Saves you interest even if you pay for a purchase in installments. And lets you ... Read More »