Finance

Muthoot Finance employees’ stir ends

A 52-day long strike by a section of employees at Kerala-based Muthoot FinanceNSE -1.13 % Company ended on Thursday following discussions between the representatives of management and trade union in the presence of an advocate commission appointed by the Kerala High Court. State Labour department said the management has accepted in-principle the demand by the employees for a hike in their salary and other benefits. The ... Read More »

Top MBA Colleges In Europe For Banking, Finance, And Economics, 2019

Every country works with a strong economy and the scope for it has become one of the important aspects to study in management. Managing finance and having a thorough understanding of economics is one of the sough-after fields in the MBA. Moreover, every firm in the world requires a strong financial manager for sure. As a result, the demand for ... Read More »

States should have been consulted before changing Finance Commission Terms of Reference, says Manmohan Singh

At a seminar organised by Kerala Government opposition leaders and economists term new ToRs as an attack on federalism Former Prime Minister Manmohan Singh on Saturday termed as “unilateral” the Centre’s move to change the Terms of Reference of the 15th Finance Commission for creation of a non-lapsable fund for “Defence and Internal Security”. At a day-long seminar on “Additional ... Read More »

Small finance banks need minimum ₹200 crore capital in on-tap licence regime

Mumbai: The Reserve Bank of India on Friday allowed payments banks to apply for small finance bank (SFB) licences, provided they meet the criteria. According to the new draft guidelines for on-tap licencing of private sector SFBs, the promoter of a payments bank is eligible to set up an SFB, provided both banks come under the non-operating financial holding company (NOFHC) structure. Existing rules do ... Read More »

Finance Ministry officials to meet heads of CPSEs for capital expenditure push

The government has a capital expenditure plan of Rs 3.3 lakh crore during the current financial year. To revive sagging economy, the finance ministry will hold meeting with heads of central public sector enterprises (CPSEs) on Friday to impress upon them the need to expedite capital expenditure. The government has a capital expenditure plan of Rs 3.3 lakh crore during ... Read More »

Finance Ministry expects remaining four banks to be out of PCA framework this fiscal

New Delhi: The finance ministry expects the remaining four public sector lenders to be out of the RBI’s prompt corrective action (PCA) framework with the recent round of capital infusion. Currently, Indian Overseas BankNSE -0.96 % (IOB), Central Bank of India, UCO Bank and United Bank of India are under this framework which puts several restrictions on them, including on lending, management compensation ... Read More »

Weekly Tactical Pick | LIC Housing Finance

This week’s tactical pick is LIC Housing Finance (current market price: Rs 412). With loan portfolio of around Rs 1,98,000 crore, LIC Housing Finance (LICHF), the second-largest housing finance company (HFC),  is one of the very few housing NBFCs that have managed to keep its head above water in the aftermath of the liquidity crisis that engulfed non-banks, especially HFCs, since September ... Read More »

Share market update: Nifty Financial Services index up; Indiabulls Housing Finance rises 3%

NEW DELHI: The Nifty Financial Services index was up with its components trading higher in Monday’s afternoon session. The Nifty Financial Services index was trading 1.62 per cent up at 12,275.90 around 11:56 am. Shares of Mahindra & Mahindra Financial Services (up 5.05 per cent) , Indiabulls Housing Finance (up 3.61 per cent) , Edelweiss Financial ServicesNSE 6.25 % (up 3.56 per ... Read More »

Nirmala Sitharaman press conference: Finance Minister touches on pain points plaguing economy

Union Finance Minister Nirmala Sitharaman is addressing a press conference amid concerns over the on-going economic slowdown in the country. This development came after Moody’s Investors Service on Friday cut India’s GDP growth forecast for 2019 calendar year to 6.2 per cent from the previous estimation of 6.8 per cent. For 2020 calendar year, it reduced the estimate by a ... Read More »

PSU banks launch joint plan to boost economic growth

While the overall credit growth is still at 12%, the flow of credit to small/medium businesses remained weak and export credit growth has contracted. In a bid to kick-start growth, the government has pushed public sector banks to initiate a nationwide campaign to ensure credit flow to businesses, big and small. For the first time, such a massive coordinated effort ... Read More »