Finance

Morocco to issue international bond in November: Finance Minister

RABAT (Reuters) – Morocco plans a first international bond in four years in November, worth about $1 billion, but will wait before deciding on the exact amount, the currency and the date of issue, the Finance Minister said on Tuesday. Moroccan Minister of Finance Mohamed Benchaaboun speaks during a news conference in Rabat, Morocco October 22, 2019. REUTERS/Youssef Boudlal “We ... Read More »

Overseas firms looking to invest in Ujjivan Small Finance Bank via IPO

Overseas investment firms such as Elevar Equity Mauritius and NewQuest Asia Investments may be looking to invest in Ujjivan Small Finance Bank through its Rs 1,200-crore initial public offering, which is likely before November. The two are existing investors in Ujjivan Financial Services–the publicly listed holding company of the bank–along with International Finance Corporation and CX Partners. “Many existing investors of Ujjivan are showing interest ... Read More »

Indiabulls Housing Finance’s true test begins

Gagan Banga, Indiabulls Housing Finance’s (IBHF) managing director, is not disappointed after the Reserve Bank of India (RBI) rejected its proposed merger with Lakshmi Vilas Bank (LVB). “Frankly, this is a relief,” Banga tells Forbes India. “After months, I sat down with my team for three-and-a-half hours and discussed business strategy and disbursal targets. We are firmly back on the growth ... Read More »

Wipro banking on small US finance companies

BENGALURU: WiproNSE 0.46 % is adding more small banks as clients in the United States, where large lenders and financial institutions are reducing technology spending due to economic uncertainty, helping the Indian IT firm gain market share, CEO Abidali Neemuchwala told ET. In the quarter to September, Wipro saw its largest client, a bank, cut discretionary spending on technology projects due to ... Read More »

Family finance: Navi Mumbai-based Santosh should align investments to achieve goals with ease

Santosh J. lives with his homemaker wife and three-month-old child in his own house, in Navi Mumbai. He has taken a home loan of Rs 15 lakh, for which he is paying an EMI of Rs 24,500. He brings in a salary of Rs 55,000 a month, and after considering all expenses, he is left with a surplus of Rs ... Read More »

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 »