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Banking & Finance

Company in future plans to focus on retail segment and build a ‘plug and play’ system for their partners. For driving growth in current fiscal year, 2 insurance arms of ICICI group will rely on investments in the latest technology, providing value-added customer centric services, better claims management, and expanding non-traditional distribution channels. ICICI Prudential […]

DBS Bank, which may become the first foreign bank to set up an Indian subsidiary, is looking to acquire customers through partnerships with fintech companies. It is not looking for any immediate acquisition of fintech companies in India like what it did in a few Asian markets, bank chief executive Piyush Gupta said at the […]

In an encouraging development in the country’s road and highway sector, private banks like HDFC, Kotak Mahindra, IndusInd, Yes Bank and RBL have shown keen interest to fund more national highway projects also under the public-private partnership (PPP) model. This comes at a time when some of the public sector banks, reeling under massive NPAs, […]

Pravasi chit fund launched by Kerala government has evoked good response from NRIs in UAE. Fund for mobilising funds for the infrastructure development in the state has got 1.25 lakh leads from UAE within a fortnight of its launch, according to Kerala finance minister T M Thomas Issac. Pravasi chit fund targeted at NRIs, is […]

In a Q&A, CEO of tworld’s largest healthcare infra scheme dwells on the speed at which his team is working to roll out a plan to cover 500 million people. Ayushman Bharat, which has been designed to attain ultimate goal of universal healthcare, is the world’s largest healthcare infrastructure scheme, covering 500 million people, or […]

Kerala-based Muthoot Finance has set a target to disburse Rs 300 crore personal loans during the current financial year, a top company official said today. Company, which had earlier offered gold loans announced its foray into the personal loan category aimed at serving salaried individuals. “We have noticed lot of gold loan customers have the […]

International Finance Corporation (IFC), a World Bank Group member, has invested Rs 640 crore ($100 million) in Mahindra & Mahindra Financial Services (MMFSL), through secured non-convertible debentures (NCDs). Company will use the funds to augment its growth by extending loans to individuals, including farmers, to buy tractors, vehicles and other equipment, along with financing small […]

IDBI Bank managing director B Sriram may get a five year term under Life Insurance Corporation of India, which is set to acquire a majority stake in the state-run lender. “The board will be reconvened, and it is up to LIC to induct new board members if it so decides, but Sriram will continue to […]

Fintech firms such as Instamojo, Upwardly.in and Capital Float are adding new revenue streams to boost their business with the launch of new solutions to address age-old problems faced by individuals, NRIs, and micro, small and medium businesses. Investment advisory and mutual fund platform Upwardly.in, which has mopped up investments of Rs.300 crore within 18 […]

While a final decision is yet to emerge on whether LIC would be snapping up over 50 per cent stake in IDBI Bank, official sources said the preliminary contours of such a plan is being worked out. Insurance behemoth LIC is looking to enter the banking space by acquiring majority stake in IDBI Bank as […]