Page 3 - Financial Services

Govt extends M R Kumar's term as LIC chairman till March 13, 2022

Kumar's term as LIC chairman was supposed to end on June 30, 2021, but the center has extended his term by almost nine more months till March 13, 2022.

Paytm has $500 mn ready cash, IPO timed to expand lead in fintech: Sources

IPO will foster public and institutional investors' trust, and seal the company's position as India's largest fintech player

Religare Enterprises to raise Rs 570 crore from preferential issue

Religare Enterprises (REL) on Tuesday said it proposes to raise Rs 570 crore via preferential issuance of shares to a clutch of investors, including existing shareholders, to fund its business plans.

SoftBank-backed Ola expands leadership team with appointment of new CFOs

G R Arun Kumar joins as the Group CFO for Ola and CFO for Ola Electric, while Swayam Saurabh has come in as CFO for Ola's mobility, financial services and foods biz

Jai Kisan, startup for financial services in rural India, raises $30 mm

Jai Kisan said it will use the funds to expand in tier-2, tier-3 cities and rural parts of the country.

Tough audit rules

RBI must consider the concerns of financial services players

Manufacturing employment nearly half of what it was five years ago

Manufacturing accounts for nearly 17% of India's GDP, but the sector has seen employment decline sharply in last 5 years - from employing 51 million Indians in 2016-17 to reach 27.3 million in 2020-21

Richard Verma appointed as Mastercard's Head of Global Public Policy

Former US Ambassador to India Richard Verma has been appointed as General Counsel and Head of Global Public Policy of Mastercard, according to an announcement by the financial services corporation

We will make haste, but slowly: SBFC Finance founder & CEO Aseem Dhru

Backed by the Singapore-based Clermont Group and Arpwood Partners, SBFC Finance wants to redefine the play in lending to micro-enterprises

Small business lender Five Star gets $234 mn in new investment round

Chennai-based registered non-banking finance company will use the capital to expand its business.

Temasek backs future funds of impact investor LeapFrog with $500 mn

In India, LeapFrog has so far deployed capital across nine companies

RBI extends deadline to apply for umbrella entity on retail payments

The deadline has been pushed by over a month to March 31 in view of the pandemic

LIC Housing Finance disburses Rs 1,331 cr of loans via mobile app

The firm has disbursed Rs 1,331 crore worth loans through its mobile banking app in the last one year

Arohan Financial files paperwork for Rs 1,800 cr initial public offering

Arohan Financial Services, a non-banking financial company, has filed draft papers with markets regulator SEBI for its proposed initial public offer (IPO). As per market sources, the Kolkata-based company plans to raise between Rs 1,750 crore and Rs 1,800 crore. The public offer of the Aavishkaar Group promoted company comprises a fund raise through a fresh issuance of shares amounting to Rs 850 crore. The company will have an offer for sale of 2,70,55,893 equity shares by Maj Invest Financial Inclusion Fund II K/S, Michael & Susan Dell Foundation, Tano India Private Equity Fund II, TR Capital III Mauritius and Aavishkaar Goodwell India Microfinance Development Company II Ltd, according to Draft Red Herring Prospectus (DRHP). The net proceeds from the fresh issue will be utilised for augmenting the company's capital base to meet their future capital requirements. Edelweiss Financial Services Ltd, ICICI Securities Ltd, Nomura Financial Advisory and Securities (India) Private ...

Edelweiss Financial Services reports Rs 63 crore loss in third quarter

Edelweiss Financial Services Limited on Saturday reported a consolidated net loss of Rs 63 crore for the third quarter ended in December 2020

ICICI Lombard sets up index to track risk exposure in sectors, companies

Indian companies have a score of 57, indicating optimised risk handling methods, says the index

Max Financial net profit jumps 54% to Rs 227 cr in December quarter

Max Financial Services Ltd reported 54 per cent jump in its consolidated net profit to Rs 227 crore in the third quarter ended December 2020

Option to remain a large NBFC 'very much on the table': HDFC group CEO

Mistry said he was confident that bounce back in demand for home loans would continue

MF industry will grow at 20% CAGR for the next five years: Amfi CEO

In a Q&A, N S Venkatesh says there are enough inefficiencies in the market right now, which will help fund managers generate alpha over the index

Record deal wins offer revenue visibility for Infosys in next 3 quarters

While double-digit growth in FY22 is a given, near term margins could come under pressure