Construction major Shapoorji Pallonji Group has issued Rs 2,610 cr of bonds at an average price of 9.15%, making it one of the biggest asset-backed infrastructure project financing in India. “At Rs 2,610 crores, this is among the largest private sector infrastructure bonds issued in India and is the largest bond in the roads sector,” […]
ICICI Bank, India’s largest private sector bank, introduced a new product — ICICI Bank Saral-Rural Housing Loan — which will carry only the bank’s base interest rate. “Applicants from rural areas including women borrowers as well as seekers from weaker sections can now avail home loans at the ICICI Bank Base Rate which is currently […]
Snapdeal, India’s largest online marketplace today and HDFC Bank Ltd. today launched a co-branded Visa credit card with lots of offers and discounts. The new card will offer Rs 500 cash back on spending Rs 5000 across any category on Snapdeal (for one time only.) It will also offer 10% cash back on Recharges & […]
Bangalore has overtaken Mumbai as the home to the biggest start-up investment scene, attracting about 30% of angel funding in India, said a report on ‘Angel Investing’ brought out by InnoVen Capital India and Association of Indian Angel Groups (AIAG). India Angel Report 2015 also found that the median angel funding round grew to Rs […]
YES Bank, India’s 5th largest private sector Bank, received approval from the Reserve Bank of India to set up International Financial Services Centre Banking Units (IBUs) in Gujarat International Finance Tec City (GIFT). “Establishing the IBU will propel YES BANK’s growth plans further by providing it access to International financial markets, as well as provide […]
North India-based real estate developer Antriksh Group has introduced a unique concept under which you can buy a flat by paying Rs 10,000 online, and pay remaining at the rate of 0.9% of the value per month. The scheme is applicable on 5th July for its “Urban Greek” project in Dwarka in Delhi. “Urban Greek” […]
The Indian mutual fund industry’s assets under management crossed the Rs 12 trillion mark in February, ending at 12.02 trillion, according to the monthly numbers released by the Association of Mutual Funds in India (AMFI). This is the first time the industry’s assets have crossed the Rs 12 trillion mark. Gains were led by inflows […]
Almost no one in the analyst community expects Reserve Bank of India Governor Raghuram Rajan to cut key interest rates during his monetary policy review tomorrow. Rajan was widely expected to cut the repo rate, at which RBI lends to the banks, tomorrow, but the governor caught the market by surprise two weeks ago with […]
India’s working population relies heavily on cash deposits and second domestic property to generate post-retirement income, according to HSBC’s latest report – The Future of Retirement A balancing act. The report also shows, working people in India believe that buying a house and paying for children’s education were the top two factors, which have significantly […]
The HSBC India Purchasing Managers’ Index (PMI) – a composite indicator designed to give an accurate overview of manufacturing operating conditions – reached a 21-month peak in November, the bank said. However, inflationary pressures intensified during the month, following three consecutive months of easing, HSBC said. “Among the surveyed sub-categories, the sharpest increase in purchase […]
The exit by US fund Bain Capital from Indian motorcycle maker Hero MotoCorp was the biggest in the second quarter of 2014, a report by Pricewaterhouse Coopers said. Bain Capital sold Hero MotoCorp shares worth $245 mln (close to Rs 1,450 cr), making it one of the biggest private equity exits of the year, according […]
Recent draft guidelines on small and payment banks have enthused about 100 entities including microfinance institutions, telecom players, non-banking finance companies (NBFCs) and public sector companies to apply for such banking licence once RBI invites applications for the same, reveals the ASSOCHAM latest study. These interested firms are awaiting final guidelines which will provide more […]
The Reserve Bank of India is unlikely to cut its key interest rates anytime this year if rains remain deficient, Bank of America Merrill Lynch said in a note. Economists Indranil Sen Gupta and Abhishek Gupta also said retail inflation could decline to 6% by January if monsoon rains remain largely along expected lines. “We […]
