Finance

Gruh Finance falls 7.5% after report of promoter stake sale

Mumbai: Gruh Finance Ltd stock fell on Friday after 30.80 million shares, or 4.2% stake of the company, changed hands in a series of block deals, Bloomberg reported. Details of the buyers and sellers could not be ascertained. Shares of Gruh Finance Ltd opened sharply lower after a Bloomberg report said the promoters of the company would sell 4.2% in the company later ... Read More »

Manappuram Finance tanks 10% after SEBI notice for insider trading

Shares of Manappuram Financetanked as much as 10 percent intraday on June 7 after SEBI issued a notice to the company alleging insider trading. According to a report in Business Standard, the market regulator issued a show-cause notice to five Asset Management Companies (AMCs) including SBI Fund Management, ING Mutual Fund (now Birla Sunlife), BNP Paribas, Ambit Capital and Manappuram on charges of using price-sensitive information for trading in ... Read More »

Avail Finance gets $ 9 million from Matrix Partner

BENGALURU: Blue-collar workforce focused financial technology startup Avail Finance has raised $ 9 million from venture capital firm Matrix Partners India. This is on top of the last round led by the Bengaluru-based company, when it raised over $17 million last year in a mix of equity and debt funding. It counts Flipkart co-founder Binny Bansal, Cred founder Kunal Shah, Ola founders Bhavish Aggarwal and Ankit ... Read More »

Family finance: Why Singhs need to buy life, health insurance at the earliest

Kaushal and Babita Singh are both employed and get a combined monthly salary of Rs 3.42 lakh. They stay with their children aged 20 and 24 and their portfolio is worth Rs 3.7 crore. It comprises Rs 2.3 crore in real estate in the form of two houses and two plots of land, Rs 12.3 lakh in cash, equity worth ... Read More »

Viewpoint | Everyone desires for an Amit Shah but are you ready to be Narendra Modi?

This article is not to propagate the political achievements of any individual or party but used as an analogy of our own behavioural aspects towards personal finance and life in general. The images of the resounding victory of the ruling party and the mammoth confidence shown in the leadership qualities of one man in the recently concluded elections are fresh in ... Read More »

Trade bodies begin pre-budget consultations with finance ministry

With days remaining for the new government to take charge and the new council of ministers to be sworn in, all eyes are already on the finance ministry. With the economy losing steam, a number of trade bodies have already started their pre-budget consultations with the finance ministry. Even though the chambers of ministers are empty at North Block, the ... Read More »

FM Arun Jaitley meets 5 finance ministry secretaries amid hospitalisation rumours

Though reports suggest that Arun Jaitley might not take another tenure as India’s finance minister under the upcoming Modi Cabinet, he seems unperturbed. Amid rumours of his ill health, the Finance Minister today met five secretaries of the finance ministry, including Finance Secretary Subhash Chandra Garg, at his residence. Other top ministry officials who met Jaitley included Revenue Secretary Ajay ... Read More »

Brainstorm Finance Is Almost Here: Come Join Us on the Beach

It’s Blockchain Week in New York, and so we wanted to call attention to a special event—not the chaotic conference unfolding right now in midtown Manhattan, but a June gathering on the edge of the Atlantic ocean. It was almost two years ago when the three of us—Jeff, Jen, and Robert—first created The Ledger as a new forum for finance ... Read More »

Finance Commission meets Bankers and Financial Institutions in Mumbai

New Delhi: The Chairman, Shri N.K. Singh, Members and Senior Officials of the 15th Finance Commission met a large group of Bankers and Heads of Financial Institutions in Mumbai today. Salient points raised by banks during their meeting with 15th Finance Commission on 9th May 2019. In the context of making the borrowing costs of State Governments aligned to their ... Read More »

Should firms that finance the pot industry really be drug-testing employees?

There’s nothing like a growth industry to excite investors and financiers. Just look at the cannabis business, which is expected to generate hundreds of billions of dollars worldwide in the coming years and is already on a streak in the stock market. Financing companies that grow weed or make related products should be a no-brainer for banks. Yet doing so in the US is risky. Not ... Read More »