Banking & Finance

In a bid to take banking services to the remote locations of the country, the Reserve Bank of India has permitted the opening of mini branches or banking outlets accross the country for all domestic scheduled commercial banks except Regional Rural Banks without having to take permission from the regulator on a case by case […]

AION Capital Partners Ltd, a private equity fund, is in advanced talks to acquire a stake in Future Corporate Resources Ltd., the holding company of Kishore Biyani’s Future Group, for between $125 million and $150 million, two people with knowledge of the plan said. The deal, which is in the final stages, will give AION […]

Manipal Education and Medical Group (MEMG) is in advanced stages of a deal to replace TTK group in Cigna TTK Health Insurance, people with direct knowledge of the matter said. Manipal will be the fourth healthcare group to get into health insurance. Apollo, Max and Religare were among the early promoters of stand-alone health insurance […]

Xander Finance, the non-banking finance arm of Xander Group, had invested Rs 130 crore in Adarsh Developers’ residential project in Bengaluru.”We have already funded more than half of the total commitment of Rs 130 crore provided to Adarsh. This facility is for project development for their villa projects in and around south-east Bengaluru,” said Amar […]

Reliance Capital has received ‘no-objection’ from the BSE and the NSE for the demerger of Reliance Home Finance, a move that will facilitate independent listing of the home finance unit on exchanges. The company is proceeding with filing the scheme of demerger with the National Company Law Tribunal for approval, and Reliance Home Finance is […]

New York-based DA Capital and Asian special situations investor SSG Capital Management are bidding for the promoters’ stake in four Amtek Group entities after a consortium of lenders that controls the company decided to sell shares to retrieve money owed to them. The consortium led by IDBI and other banks has decided to conduct an […]

The Xander Group Inc. and Dutch pension fund asset manager APGAsset Management NV have bought an information technology (IT) special economic zone (SEZ) in south Chennai for around $350 million (Rs2,250 crore) from a joint venture of Shriram Properties’ and Infrastructure Pvt. Ltd and private equity fund SUN-AREA Property Partners, according to two people familiar […]

Micro finance institution Janalakshmi Financial Services (JFS) will start operations of a small finance bank (SFB) in the second quarter of current financial year. It will open 300 bank branches during the year covering major locations in India. The Reserve Bank of India (RBI) has granted the company a final licence to set up Small […]

State-owned SBI and realtors body CREDAI have signed an agreement to provide loans at a concessional rate to builders as well as customers for affordable housing projects. SBI and CREDAI have signed a memorandum of understanding (MoU) to collaborate and work towards the development of the real estate sector, specifically through the affordable housing and […]

International Finance Corporation, which has development among its key objectives, has found a partner in India’s non-banking finance companies (NBFCs) even though the India’s banking regulator Reserve Bank of India still classifies them under the so called `shadow banking’ tag. New generation NBFCs such as Capital First and Fullerton India Credit Company have just received […]