Tag Archives: Small

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 »

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 »

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 »

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 »

Small finance banks dismiss worries about listing for now

Shares of small finance banks are buzzing, with investors seemingly pleased with their efforts to meet the regulatory deadline of listing operating subsidiaries and reducing promoter holding. Currently, the holding companies of these small finance banks are listed. A strong performance in the second quarter has also aided the interest in these stocks. The urgency to hammer out a scheme ... Read More »

For High Fixed Deposit Returns Up To 9%, Choose Small Finance Banks, Non Banking Financial Companies

Mahindra Finance, offers interest rate on fixed deposit at 7.95 per cent for a 15-month fixed deposit. For individual depositors, a bank fixed deposit (FD) is considered the safest form of investment, especially with a large commercial bank such as State Bank of India (SBI). The income from the bank FD is not only safe, but also accessible at any ... Read More »

Small Finance, Payments Banks To Offer Atal Pension Yojana To Subscribers

There are 11 Payments Banks and 10 Small Finance Banks that have received license from RBI. New Delhi: The Central government on Friday said “Payments Banks and Small Finance Banks” will offer social security scheme Atal Pension Yojana (APY) to their subscribers. “To strengthen the existing channels of APY distribution, it is felt that these new Payments Banks and Small Finance ... Read More »

Tyranny: Bastard’s Wound review: A small and unnecessary expansion

I had high hopes for a Tyranny expansion. “Not enough depth” is the key criticism I leveled at Obsidian’s evil-hearted RPG last year, and it’s continued to bother me. Tyranny’s writing and world-building are, at times, some of Obsidian’s best work. But with the lack of any companion quests, the paltry number of locations, the way the game railroads you into an ending, and ... Read More »

Most Small Businesses Spend $1000 or More on Tax Administration Alone

Small businesses are spending way too much time and money on federal taxes, a new survey has found. According to the National Small Business Association 2017 Small Business Taxation Survey (PDF), federal tax burden is one of the biggest challenges facing small businesses. The report finds the majority of small businesses (67 percent) are spending more than $1,000 each year on just ... Read More »