Banking & Finance

PNB Housing Finance has opened its fifth outlet in Tamil Nadu under its expansion drive and has plans to open 23 more in the current financial year. PNB Housing Finance currently has 66 branches across 39 towns. in 2016-17, the company sanctioned ?23,704 crore as loans while total retail disbursements stood at ?15,766 crore, a […]

Government is working on a consolidation agenda in a bid to create 3-4 global-sized banks and reduce the number of state-owned lenders to about 12, an official said. The 21 public sector banks would get consolidated to 10-12 in the medium term, the official said. As part of a three-tier structure, the official said, there […]

Private sector Yes BankBSE -1.35 % has received $ 150 million funding from the US government and Wells Fargo to increase lending to support women entrepreneurs and small and medium-sized enterprises in India. This is the third round of funding to the bank as part of arrangement with the Overseas Private Investment Corporation (OPIC) –the […]

Last week the Shriram Group that has an asset under management (AUM) of around Rs 100,000 crore announced that it is considering a potential merger of its finance business under Shriram Capital with IDFC Ltd and IDFC Bank. Ever since this announcement on Wednesday, talks about the deal getting the approval of the regulators have […]

IDFC and Shriram groups are in talks to combine all or some of their businesses in a mega union that could straddle traditional banking, consumer lending and truck financing, apart from providing billionaire Ajay Piramal an entry into a highly regulated industry. The board of Shriram Capital, the holding company for the consumer lending arm […]

International Finance Corporation (IFC), a member of the World Bank Group, has invested Rs 667 crore ($103 million) in L&T Infrastructure Finance Company Ltd by subscribing to the country’s first official green bonds. This is in line with IFC’s strategy to support renewable energy infrastructure in the country and also develop the capital markets. L&T […]

Bandhan Bank is targetting to open another 160 branches to reach the 1000-mark by the end of this financial year, Managing Director and Chief Executive Officer of Bandhan bank Chandra Shekhar Ghosh said on Sunday. “We are planning to open more branches at different locations and reach the 1000-mark by the end of this financial […]

The finance ministry has asked four large PSU lenders to explore opportunities for acquisition of small and mid-sized banks with a goal to create global sized lenders, sources said. One of the possibilities is that large public sector banks (PSBs) like Punjab National Bank, Bank of Baroda, Canara Bankand Bank of India could try looking […]

Around the same time last year, when talk of consolidating public sector banks (PSBs) gathered momentum, it had a positive rub-off effect on their stock prices, leading to a re-rating in their valuations. Talks of mergers have resurfaced with reports suggesting a possible merger between Bank of Baroda (BoB), Dena Bank and Bank of Maharashtra, […]

SMC Capital and EPC developer REPL group have come together to launch a Rs 1,000-crore real estate fund, SMC IM Capital. The fund has already got commitments from global investors based in the US and Middle East and will look at a first close by end of this month. “We have a dollar fund of […]