Finance

Sundaram Finance Q3 PAT rises 4% to Rs 253 crore

Non-banking finance company Sundaram FinanceNSE -2.02 % Ltd on Tuesday reported a 3.8 per cent rise in consolidated profit after tax (PAT) at Rs 252.90 crore for the quarter ended December 31, 2019. It had posted a consolidated PAT of Rs 243.64 crore in the year-ago period, Sundaram Finance said in a regulatory filing. However, the consolidated income of Sundaram Finance declined to Rs ... Read More »

Family Finance: Government employee Kumar should focus on main money goals for now

Bipin Kumar and Jyoti Sharma stay with their two children, aged four and one, in Delhi. They get a combined monthly income of Rs 1.1 lakh and being government employees, they have been provided free accommodation. Their portfolio worth Rs 34.04 lakh comprises equity worth Rs 3.3 lakh, debt of Rs 32.04 lakh, and cash of Rs 20,000. After considering household ... Read More »

Finance ministry makes a budget case for small investors

Mumbai: Finance minister Nirmala Sitharaman told Indian industry on Friday that proposed changes in dividend distribution tax (DDT) rules were aimed at putting more money in the hands of small shareholders, declaring, “let them decide what they want to do with it”. While admitting that promoters and high net-worth individuals (HNIs) will face a higher tax rate, she justified the move on the ... Read More »

Why financial professionals say cybersecurity is the toughest risk to manage

A new survey from the The Association of Financial Professionals finds cybersecurity is “the most challenging risk to manage,” a drastic change from 2009 when it was a much smaller concern for financial professionals. “Well, it’s probably no surprise to anyone that technology can have great benefits but also can have some downside,” The Association of Financial Professionals CEO Jim Kaitz explained ... Read More »

Budget 2020 Live: Finance Minister Nirmala Sitharaman Begins Her Budget Speech

Budget 2020 | Government Debt Cut To 48.7% Of GDP In March 2019: FM The central government’s debt in March 2019 to 48.7 percent of GDP from 52.2 percent in March 2014. Got FDI Of $284 Billion In 2014 To 2019 Economic Development To Involve Yielding More Space For Private Sector 11:16 AM FM Lists Out Three Theme Of Budget ... Read More »

Sachin Bansal steps down as Ujjivan Small Finance Bank director; here’s why

Sachin Bansal has resigned as independent director of Ujjivan Small Finance Bank in the interest of propriety and corporate governance after an entity owned by him submitted an application to the Reserve Bank of India for a universal banking licence. Within four months of acquiring a majority stake in Chaitanya India Fin Credit, Flipkart co-founder Sachin Bansal-led microlender had applied for a universal banking licence on ... Read More »

Few will be able to avail SBI’s new home finance ‘buyer guarantee’ scheme: Here’s why

Early in January, the State Bank of India (SBI) introduced a ‘Residential Builder Finance with Buyer Guarantee’ (RBBG) scheme to safeguard homebuyers financially against non-completion of projects. Those home buyers taking a loan from SBI under this scheme and meeting it eligibility conditions would be able to avail the guarantee. However, it appears that only a limited number of people will be able to ... Read More »

In finance, the fittest and best governed will survive: Uday Kotak

Asia’s richest banker Uday Kotak believes robust corporate governance and integrity would help the Kotak Group cement its credentials as a banking powerhouse in the current decade, even as he anticipates consolidation in India’s financial and corporate landscape. “It is a great opportunity for Kotak to grow in an environment which is consolidating,” the billionaire Kotak, who is the chief executive of Kotak ... Read More »

Finance Ministry tightens purse strings for January-March quarter

The finance ministry has cut the amount various ministries and department can spend in the last quarter to a maximum of 25% of their budget estimate for the entire financial year, citing fiscal situation. The earlier limit for the last quarter spending was 33%. Also, within the 25% cap on spending for January-March, only a maximum of 10% of the total budget ... Read More »

Family finance: Prabhakaran should stagger primary financial goals to achieve them with ease

Pradeep Prabhakaran is a software engineer who stays with his homemaker wife and a six-month-old child in a rented house in Hyderabad. He brings in a monthly income of Rs 74,000 and after considering expenses and investment, is left with a surplus of Rs 8,709. His portfolio of Rs 28 lakh includes equity worth Rs 12.69 lakh in the form ... Read More »