Category: Banking & Finance

Banking & Finance, BUSINESS, INDIA, Parenting & Education, PEOPLE & TRENDSETTERS

Federal Bank Announces Winners of Federal Bank Hormis Memorial Foundation Scholarships for 2022-23

Federal Bank announced the names of 310 applicants from across the country who will receive Federal Bank Hormis Memorial Foundation scholarship for pursuing higher studies. Initiated in memory of the founder of Federal Bank, Shri K P Hormis, the scholarship aims to financially support meritorious students from weaker social economic backgrounds, enabling them to pursue professional educational courses. As part of its flagship CSR programme, … Continue reading Federal Bank Announces Winners of Federal Bank Hormis Memorial Foundation Scholarships for 2022-23

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Banking & Finance, BUSINESS, INDIA, PEOPLE & TRENDSETTERS

LIC FY23 net profit surges multi-fold to Rs. 36,397 crore

PERFORMANCE for the Year ended March 31st, 2023 (FY 2023)  • Market leadership with 62.58% market share with 16.67% FYPI growth • Profit After Tax at Rs. 36,397 crore • Board recommends dividend of Rs. 3/- Per Share (Previous Year Rs 1.50/- per share) • Value of New Business (Gross) grows by 16.46% to Rs.11,553 crore • VNB margin (Net) increased by 110 bps to … Continue reading LIC FY23 net profit surges multi-fold to Rs. 36,397 crore

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Banking & Finance, INDIA, PEOPLE & TRENDSETTERS

Bank Of Baroda Announces Financial Results for the Quarter & Financial Year Ended 31st March 2023

Key Highlights Profitability Asset Quality Capital Adequacy Business Performance Financial result for Quarter ended 31st March 2023 Particulars (INR crore) Q4FY22 Q3FY23 Q4FY23 YoY(%) FY22 FY23 YoY(%) Interest Income 18,174 23,540 25,857 42.3 69,881 89,589 28.2 Interest Expenses 9,562 12,722 14,332 49.9 37,259 48,233 29.5 Fee Income 1,638 1,539 1,714 4.6 5,486 5,997 9.3 Net Interest Income (NII) 8,612 10,818 11,525 33.8 32,622 41,355 26.8 … Continue reading Bank Of Baroda Announces Financial Results for the Quarter & Financial Year Ended 31st March 2023

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Banking & Finance, BUSINESS, INDIA, PEOPLE & TRENDSETTERS

India Exim Bank Profit doubles in FY 23 |Corporate Loan Book sees 35% y-o-y growth and loan assets grow by 14%

India Exim Bank’s Managing Director, Ms. Harsha Bangari, and Deputy Managing Directors, Mr. N. Ramesh and Mr. Tarun Sharma, announced the Bank’s results for the financial year 2022-23 recently. Key highlights of the Bank’s performance during 2022-23 are as under: FINANCIAL PERFORMANCE BUSINESS PERFORMANCE The Bank sanctioned loans aggregating ₹ 79,764 crore during FY 2022-23 to enhance export capabilities of Indian companies and support development priorities … Continue reading India Exim Bank Profit doubles in FY 23 |Corporate Loan Book sees 35% y-o-y growth and loan assets grow by 14%

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Banking & Finance, BUSINESS, INDIA, PEOPLE & TRENDSETTERS

ICICI  Lombard’s Corporate India Risk Index 2022 shows India Corp’s resilience amidst global challenges.

~ Corporate india Risk Index registered a score of 63, supported by continous improvement in Indian enterprises risk handling despite of multiple global headwinds.~ Despite facing challenges such as tightening global monetary policies, rising inflation, slowing global growth, and elevated commodity prices, the Indian government and corporates have demonstrated resilience by employing efficient risk management strategies.   The 3rd edition of the Corporate India Risk Index (CIRI) … Continue reading ICICI  Lombard’s Corporate India Risk Index 2022 shows India Corp’s resilience amidst global challenges.

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Banking & Finance, BUSINESS, INDIA, PEOPLE & TRENDSETTERS

Cholamandalam Finance to raise up to Rs 5,000 cr. via NCDs, launches Maiden Tranche I Issue of up to Rs 1,000 cr., Tranche I Issue Opens April 25, 2023

Coupon Rate Upto 8.40% p.a.# Effective Yield Up to 8.40% p.a.## Cholamandalam Investment and Finance Company Limited (CIFCL), a leading financial services provider in India, has announced its maiden public issue of secured, rated, listed redeemable non-convertible debentures of the face value of Rs. 1,000 each (“NCDs”) with a base Issue size of Rs. 500 crores with an option to retain any oversubscription up to … Continue reading Cholamandalam Finance to raise up to Rs 5,000 cr. via NCDs, launches Maiden Tranche I Issue of up to Rs 1,000 cr., Tranche I Issue Opens April 25, 2023

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Banking & Finance, BUSINESS, PEOPLE & TRENDSETTERS

Highlights AMFI Mutual Fund Industry for FY’23

 Mutual Fund Industry Net AUM was INR 39,42,031 crores, while AAUM was INR 40,04,638 crores. Retail AUM (Equity + Hybrid + Solution Oriented Schemes) stood at INR  20,34,533 crores for March 2023, with an Average AUM of INR 20,45,632 crores. The number of retail scheme folios (Equity + Hybrid + Solution Oriented Schemes) were 11,64,81,361 SIP contribution stood at INR 14,276.06 crores. Mutual Fund … Continue reading Highlights AMFI Mutual Fund Industry for FY’23

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Banking & Finance, BUSINESS, INDIA, PEOPLE & TRENDSETTERS

IRDAI Chief Calls for Roadmap to achieve ‘Insurance for All by 2047’

Debashish Panda, Chairman, Insurance Regulatory and Development Authority of India (IRDAI), today called upon all stakeholders to come together to help achieve the nation’s aspiration of providing insurance to every person in India by the year 2047, which marks 100 years of our Independence. He was delivering the inaugural address at FINCON 2023, the 22nd annual insurance conference organized by Federation of Indian Chambers of Commerce and Industry (FICCI). While … Continue reading IRDAI Chief Calls for Roadmap to achieve ‘Insurance for All by 2047’

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Banking & Finance, INDIA

Indore Municipal Corporation’s public issue of green bonds to open for subscription on February 10 at 8.25% p.a. coupon rate payable half yearly and effective yield upto 8.42% p.a.

Applicable for STRPP D for tenure of 9 years. For further details, please refer to the Offer Document dated February 01, 2023. Indore Municipal Corporation (“IMC” or “Corporation”), established in the year 1956 under the Madhya Pradesh Municipal Corporation Act, 1956 has filed offer document for public issue of rated, listed, taxable, secured, redeemable, non-convertible green municipal bonds of the face value of Rs. 1000 … Continue reading Indore Municipal Corporation’s public issue of green bonds to open for subscription on February 10 at 8.25% p.a. coupon rate payable half yearly and effective yield upto 8.42% p.a.

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Banking & Finance, BUSINESS, INDIA

Utkarsh Small Finance Bank expands its footprints | Launches 25 Banking Outlets

Utkarsh Small Finance Bank Limited (USFBL or the Bank), today announced the launch of 25 branches coinciding with its 6th Anniversary Celebrations. With this, the Bank offers its financial services through a network of 819 banking outlets in the country spread across 25 states and union territories. The launch of these banking outlets in the country is aligned with the Bank’s strategy to extend its reach … Continue reading Utkarsh Small Finance Bank expands its footprints | Launches 25 Banking Outlets

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Banking & Finance, BUSINESS

Kotak Securities: Bull case scenario to take Nifty to 20,919 in 2023

When global markets and indices tumbled, India stood resilient and is already the fastest-growing economy in the world, clocking 5.5% average gross domestic product growth over the past decade. While the IMF predicts global growth to slow from 6.0% in 2021 to 3.2% in 2022 and 2.7% in 2023, the World Bank forecasts India to grow at 6.9% in FY23 and 6.6% in FY24. Equity … Continue reading Kotak Securities: Bull case scenario to take Nifty to 20,919 in 2023

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Banking & Finance, BUSINESS, INDIA

Radiant Cash Management Services IPO to open December 23 to 27, 2022 | Price band set at INR 94 to 99 per Equity Share

Radiant Cash Management Services Limited an integrated cash logistics player with leading presence in retail cash management (“RCM”) segment of the cash management services industry in India and are one of the largest players in the RCM segment in terms of network locations or touch points served as of March 31, 2022 (Source: Company Commissioned F&S Report) has fixed the price band at ₹94 to ₹99 per Equity Share for … Continue reading Radiant Cash Management Services IPO to open December 23 to 27, 2022 | Price band set at INR 94 to 99 per Equity Share

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Banking & Finance, BUSINESS, INDIA, LIFESTYLE

Billbox launches TapTap in Association with NSDL Payments Bank & Visa

BillBox, one of the leading customized solution providers in the payments & merchant ecosystem in India has launched a disruptive product – TapTap – in association with NSDL Payments Bank & Visa. They bring into the market a path-breaking technology where they have revolutionized card payments in the form of wearable accessories. Talking about the product, Viraj Majmudar, Managing Director and CEO, TapTap said “TapTap is a … Continue reading Billbox launches TapTap in Association with NSDL Payments Bank & Visa

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Banking & Finance, BUSINESS, INDIA, Infrastructure & Technology

Tata Power Solar Systems Ltd. and Union Bank of India join hands to help MSME with Solar Rooftop adoption

~Move aims to promote green energy transition in small and medium enterprises~  ~ Will support ‘Make in India’ initiative by facilitating reliable green power to industries in wake of grid exigencies~ Tata Power Solar Systems Limited (TPSSL), a wholly owned subsidiary of Tata Power Renewable Energy Limited (TPREL) has tied up with Union Bank of India (UBI), one of the country’s oldest and largest public … Continue reading Tata Power Solar Systems Ltd. and Union Bank of India join hands to help MSME with Solar Rooftop adoption

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Banking & Finance, BUSINESS, EVENT & LISTING, INDIA, PEOPLE & TRENDSETTERS, WORLD NEWS

Aditya Birla Health Insurance sets Guinness World Record with ‘Largest Online Video Album of People Jumping in the Air’

· A Guinness World Records title has been created during ABHICL’s #JumpForHealth campaign · #JumpForHealth in its 5th edition, is an initiative to encourage healthy living, and help the specially-abled walk again · ABHICL to donate 1 prosthetic leg for every 10,000 jumps Aditya Birla Health Insurance Company Ltd. (ABHICL), the Health Insurance subsidiary of Aditya Birla Capital Limited, a significant non-banking financial services company, … Continue reading Aditya Birla Health Insurance sets Guinness World Record with ‘Largest Online Video Album of People Jumping in the Air’

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