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Omidyar Network India Advisors, the global impact investment entity Omidyar in Bengaluru, is planning to exit from some of its portfolio companies in the next 18 months. The fund house has been in India for 10 years and has completed more than five years in some of its portfolio companies. With very few exits so […]

Foreign investor Aranda Investments offloaded 1.5 million shares of Info Edge, which runs, for over Rs 2.05 billion through an open market transaction. However, the buyer(s) of the stocks could not be immediately ascertained. According to bulk deal data available on the National Stock Exchange (NSE), Aranda Investments (Mauritius) Pte Ltd sold a total […]

Digital assistants, social media and third party channels are expected to be the primary channels for banking by 2022, apart from mobile and online, a report said. “After existing digital channels (mobile and online), digital assistants, social media and third party channels are expected to be the primary channels for banking by 2022,” as per […]

International Finance Corporation (IFC), a member of the World Bank Group, is planning to put around $50 million (around Rs 3.5 billion) in the form of a sub-debt investment in Ujjivan Small Finance Bank. The financial institution would use these funds for on-lending to micro small and medium enterprises (MSMEs), SMEs and women-owned enterprises. The […]

HSBC India and ING Bank Brussels have executed a blockchain enabled, live trade finance transaction with Reliance Industries and Tricon Energy. The blockchain enabled Letter of Credit (LC) transaction facilitated the shipment between Reliance Industries and Tricon Energy, USA. ING Bank issued the LC for Tricon Energy and HSBC India was the advising and negotiating […]

TPG Growth, the middle market and growth investment fund of TPG Group, announced that it has invested $42 million in Ess Kay Fincorp, a Jaipur-based NBFC. Existing investors Norwest Venture Partners and Evolvence India Fund II Ltd are investing alongside TPG Growth, the fund said in a joint statement. ET was the first to report […]

The State Bank of India (SBI) and Hitachi Payment Services (Hitachi Payments) entered into a joint venture (JV) to start a digital payment platform in India.The SBI would have a majority stake in the partnership, a joint statement said. “The joint venture will provide comprehensive suite of payment options to customers and merchants focussing on […]

Aimed at tapping in to ‘specific market segment’, country’s largest commercial bank– State Bank of India (SBI) on Saturday opened its wealth hub in this cradle of banking. The hub that SBI chairman Rajnish Kumar launched at Lalbagh here is its 91st such facility spread across 21 major centres. SBI has plans to expand wealth […]

Mutual fund houses have made investments of over Rs.11,600 crore in domestic equities in September despite volatility in stock markets, even as foreign investors pulled out a massive Rs.10,825 crore. Sell-off by foreign portfolio investors (FPIs) from the Indian equity markets has provided an opportunity to mutual fund managers, experts believe. According to the latest […]