Tag Archives: Finance

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 »

Advantage captives as global finance companies move core tech work in-house

PUNE: Global financial services providers are moving more core technology development work inhouse, making India captive centres increasingly important in their business plans. More than 78 global banking and financial services companies, including Goldman Sachs, Deutsche Bank, JP Morgan and Standard Chartered, have set up captive units here that employ a combined 250,000 people, according to industry consultancy Zinnov. Earlier this month, former SAP ... 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 »

Robots in finance could wipe out some of its highest-paying jobs

Robots have replaced thousands of routine jobs on Wall Street. Now, they’re coming for higher-ups. That’s the contention of Marcos Lopez de Prado, a Cornell University professor and the former head of machine learning at AQR Capital Management LLC, who testified in Washington on Friday about the impact of artificial intelligence on capital markets and jobs. The use of algorithms in electronic markets has ... Read More »

DoT to take up Rs 36,000 crore ITC refund with finance ministry

New Delhi/Mumbai: The Department of Telecommunications will ask the finance ministry to refer the pending issue of refunding input tax credits of telecom companies worth Rs 36,000 crore to the GST Council, a move that could provide further relief to Vodafone Idea and Bharti AirtelNSE -1.33 %. One official said wider consultations are needed on the matter of reducing licence fees for telcos and this ... Read More »

Sebi taps finance ministry over new tag for foreign-owned MFs

Mumbai: The markets regulator has written to the finance ministry over its recent circular tagging foreign-controlled mutual funds as investment vehicles, two people familiar with the matter said. The regulator’s intervention comes amid fears that the new rules could force several equity asset managers to freeze investment activity and even sell their holdings. The Securities and Exchange Board of India (Sebi) made its representation ... 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 »

Nissan names new finance chief, some managers to leave in latest shake-up

TOKYO- Nissan Motor Co on Friday appointed American Stephen Ma as its next chief financial officer and said Hitoshi Kawaguchi and other veteran executives were stepping down, a shake-up that one source said marked a “generational change” at the automaker. The announcement comes just weeks after the Japanese company named the head of its China business, Makoto Uchida, as its next chief executive. Following the ... Read More »