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Recently launched India Post Payments Bank signed a five-year Corporate Agency Agreement with Bajaj Allianz Life Insurance Company Ltd. to provide life insurance products to its consumers, here on Tuesday. The date of the launch and the details of the products on offer have not been announced yet. “It will be a simple term-product with […]

Proposed rationalisation of Bank of Baroda (BoB), Vijaya Bank and Dena Bank’s branches is expected to bring savings of Rs 10-12 billion annually, an official said. BoB and Dena Bank have branches in the same vicinity and need rationalisation in nearly 1,000 locations. Credit rating agency Moody’s on Tuesday said the merger of these banks […]

Zomato’s newest investor Ant Financial has secured the right to become the largest shareholder in the restaurant discovery and food-delivery platform, replacing Info Edge, as the Chinese payments giant aggressively seeks to expand its presence in India. Agreement is a part of Ant Financial’s $200 million investment in Zomato in February, as per its updated […]

Lighthouse India Fund III, an affiliate of consumer-focused private equity manager Lighthouse Advisors, has invested Rs.113 crore in beauty retailer Nykaa for a minority stake through a secondary share sale. Ttransaction gives an exit to TVS Capital Funds, which had invested about Rs.30 crore in Nykaa in 2015 and 2016 through its TVS Shriram Growth […]

Manipal Group will be acquiring a 16% stake in healthcare insurance provider Cigna TTK Health Insurance Co. Ltd for an undisclosed amount, the firms announced in a joint statement on Monday. Deal marks Manipal’s entry into the insurance business and is expected to help Cigna TTK to expand its distribution network, leveraging the customer base […]

Singapore-based global investment firm Temasek has signed an agreement to invest up to $400 million in the National Investment and Infrastructure Fund (NIIF) of India with an option for co-investment with NIIF infuture. As part of the agreement, Temasek will join the Government of India, Abu Dhabi Investment Authority (ADIA), HDFC Group, ICICI Bank, Kotak […]

National Bank for Agriculture and Rural Development (NABARD) has sanctioned an amount of Rs.334.75 crore in August 2018 for West Bengal under the Rural Infrastructure Development Fund (RIDF). Fund is for 158 minor irrigation and 23 flood protection projects. The irrigation projects are expected to benefit 20,506 ha covering 3.09 lakh population in 699 villages. […]

Company is eyeing a 100% growth in its revenues in current fiscal. BankBazaar.com will foray into Australia by the end of this fiscal as part of expanding its overseas business. It is an online marketplace that provide customers with an option to choose from different range of financial products such as loans, credit cards or […]

Paytm Money, which has been setup as a separate subsidiary aims to add 25 million users in retail investment segment over next 6 years Paytm has launched its independent investment platform Paytm Money, through which users will be able to buy mutual funds and get advisories for absolutely no charge. Paytm Money, which has been […]

Aditya Birla Capital (ABCL) has formed a joint venture (JV) with US-based Varde Partners to pursue investments in stressed and distressed assets in India. Operating in a JV platform, both parties will evaluate investments across sectors, focusing on acquisition, restructuring and resolution of the substantial supply of non-performing assets in India as well as special […]