Tag Archives: Bank

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 »

Ujjivan Small Finance Bank IPO: Share likely to list at 50% premium over issue price

After drawing robust investor response for its initial public offering (IPO), Ujjivan Small Finance Bank is likely to make strong market debut. Shares of Ujjivan Small Finance Bank will be listed on the Bombay Stock Exchange as well as the National Stock Exchange on December 12. According to market analyst, the share of Ujjivan Small Finance Bank is likely to ... Read More »

RBI flags shortcomings at Ujjivan Small Finance Bank

Mumbai: In its recent inspection report the Reserve Bank of India has made certain observations regarding Ujjivan Small Finance Bank’s lack of fraud management system, rating methodology and categorisation of priority sector loans among many others. The bank has filed initial papers to raise Rs 1,200 crore via an initial public offering (IPO) in August. Under the condition for small finance bank ... 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 »

Jana Small Finance Bank receives Scheduled Bank status from RBI

The Bengaluru-headquartered bank, established as a financial services company in 2009, said it presently operates 260 branches and 338 asset centres serving over 5.5 million customers in different states. Jana Small Finance Bank Ltd announced on Thursday it has got the status of a Scheduled Bank from RBI. The Bengaluru-headquartered bank, established as a financial services company in 2009, said it ... Read More »

Ujjivan Small Finance Bank Q1 net jumps two-fold to Rs 94 cr

Ujjivan Small Finance Bank (SFB) on Friday reported more than two-fold jump in its net profit at Rs 94.4 crore in the first quarter ended June 2019, helped by healthy growth in advances and improvement on stressed assets front. The bank had posted a net profit of Rs 46.10 crore during the corresponding April-June quarter of the previous fiscal ended March ... Read More »

World Bank ready to finance other projects in Andhra Pradesh: Official

The World Bank has apprised the Andhra Pradesh government of its readiness to finance other projects in the state in spite of its refusal to a $300 million Amaravati project, an official said. World Bank officials communicated this to the state government after the  $300 million loan proposal for Amaravati was dropped at the behest of the Centre, a top ... Read More »

Britain Honors Computer Scientist Alan Turing as The Face of Their New Bank Note

Alan Turing, a founding father of computer science and artificial intelligence, was revealed Monday as the face of Britain’s new 50-pound bank note. Turing was also famed as a World War II codebreaker whose work was widely credited with hastening the end of the war and saving thousands of lives. But at the time, his achievements were overshadowed following his ... Read More »

Xiaomi Launches ‘Made in India’ Mi Power Bank 2i Range, Unveils Third Manufacturing Facility

HIGHLIGHTS Mi Power Bank 2i range comes in 10000mAh and 20000mAh capacities Prices of Mi Power Bank 2i start at Rs. 799 Xiaomi’s third Indian facility has over 500 workers Days after teasing a new “i” product, Xiaomi on Tuesday launched the Mi Power Bank 2i lineup as its very first ‘Made in India’ power banks in the country. The Chinese company has ... Read More »

Signing of MoU between IIM Lucknow and Axis bank to benefit females

A memorandum of understanding (MoU) has been signed between the Indian Institute of Management (IIM), Lucknow and Axis Bank.   Female candidates can join the Axis bank after completion of the programme A memorandum of understanding (MoU) has been signed between the Indian Institute of Management (IIM), Lucknow and Axis Bank. Through this MoU, all the female candidates getting into ... Read More »