finance companies

RBI asks people not to invest in illegal finance companies


August 31st, 2012 - 5:47 pm ICT by IANS
Udaipur (Tripura), Aug 31 (IANS) The Reserve Bank of India (RBI) Friday asked people in the northeast not to deposit money in unauthorised non-banking financial companies (NBFCs) and institutions expecting ... Read more...

Posted in Business |

RBI ticks off SBI chairman


August 27th, 2012 - 9:07 pm ICT by IANS
Chennai, Aug 27 (IANS) A senior Reserve Bank of India (RBI) official Monday ticked off the chairman of State Bank of India (SBI) in public, saying he should look ... Read more...

Posted in Business |

SBI favours phasing out of CRR


August 23rd, 2012 - 5:16 pm ICT by IANS
Kolkata, Aug 23 (IANS) The country's largest public sector lender State Bank of India has strongly proposed phasing out of Cash Reserve Ratio (CRR) from the banking system, its ... Read more...

Posted in Business |

With reforms under stress, India stares at ratings cut (Roundup)


April 25th, 2012 - 6:30 pm ICT by IANS
New Delhi/Mumbai, April 25 (IANS) In a firm warning that all is not well with the Indian economy, the country's outlook was lowered Wednesday to negative from stable by ... Read more...

Posted in Business |

Finance companies dominate IIM-C placements


April 10th, 2012 - 12:20 am ICT by IANS
Kolkata, April 9 (IANS) Despite the global economic slowdown, the final batch of 352 students of the Indian Institute of Management-Calcutta (IIM-C) got placed during the campus selection, with the ... Read more...

Posted in Business |

RBI cautions investors against illegal finance companies


January 7th, 2012 - 5:53 pm ICT by IANS
Bagmara (Tripura), Jan 7 (IANS) The Reserve Bank of India (RBI) Saturday asked people not to deposit their hard earned money in unauthorised non-banking financial companies (NBFCs) and institutions in ... Read more...

Posted in Business |

Insurance firms might find draft bancassurance guidelines difficult


January 3rd, 2012 - 10:53 pm ICT by IANS
Kolkata, Jan 3 (IANS) The draft guidelines on bancassurance by the Insurance Regulatory Development Authority (IRDA) may turn out to be difficult for a few insurance companies in the country, ... Read more...

Posted in Business |

Magma’s Q2 income up 27 percent


October 17th, 2011 - 10:14 pm ICT by IANS
Kolkata, Oct 17 (IANS) Magma Fincorp Limited, one of the leading asset finance companies in the country, Monday announced that its income during the second quarter (Q2) of the current ... Read more...

Posted in Uncategorized |

RBI proposes new regulations for non-banking finance firms


August 29th, 2011 - 2:46 pm ICT by IANS
Mumbai, Aug 29 (IANS) The Reserve Bank of India (RBI) Monday proposed new regulations for non-banking finance companies (NBFCs) which include seeking prior approval from the central bank for mergers ... Read more...

Posted in Business |

Relax investment norms for private equity funds: CII


August 21st, 2011 - 6:30 pm ICT by IANS
New Delhi, Aug 21 (IANS) Investment guidelines for private equity and venture capital funds should be suitably relaxed as such investors aim at improving management and operations of companies and ... Read more...

Posted in Business |

Constant rate hikes have further burdened realty industry (Comment)


August 3rd, 2011 - 1:13 pm ICT by IANS
It is a matter of concern that credit growth, both for home loans and on the exposure to real estate developers, has hit a speed breaker due to repeated interest rate ... Read more...

Posted in Business |

RBI asks northeast to crack whip on chit funds


May 26th, 2011 - 1:35 pm ICT by IANS
Agartala, May 26 (IANS) Worried about rising incidents of non-banking finance companies (NBFCs) hoodwinking the public, India's central bank has asked north eastern states to constitute a robust economic offence ... Read more...

Posted in Business |

India’s first bamboo park in Tripura


April 6th, 2011 - 3:50 pm ICT by IANS
Agartala, April 6 (IANS) India's first bamboo park and second rubber industrial park are being set up in the northeastern state of Tripura to promote exports and to bring about ... Read more...

Posted in Business |

‘Big sharks’ won’t get large slices of Kannur airport: Achuthanandan


January 12th, 2011 - 6:01 pm ICT by IANS
Thiruvananthapuram, Jan 12 (IANS) Kerala Chief Minister V.S. Achuthanandan Wednesday reiterated that "big sharks" would not be allowed to get away with a large slice of shares of private investment in the ... Read more...

Posted in Business |

No RBI approval needed for bank branches in northeast: minister


December 30th, 2010 - 3:28 pm ICT by IANS
Agartala, Dec 30 (IANS) The Reserve Bank of India (RBI) has relaxed norms for setting up bank branches in northeast India and no prior approval of the apex regulatory body is required ... Read more...

Posted in Business |

Microfinance firms fear Andhra law will hurt them


December 15th, 2010 - 10:41 pm ICT by IANS
Hyderabad, Dec 15 (IANS) The Microfinance Institution Network (MFIN), a body of micro-finance companies, Wednesday expressed disappointment that the Andhra Pradesh legislative assembly passed a regulatory bill without any amendments, and feared ... Read more...

Posted in Business |

Minister denies Kannur airport stake allotment


December 14th, 2010 - 3:25 pm ICT by IANS
Thiruvananthapuram, Dec 14 (IANS) Kerala Tourism and Home Minister Kodiyeri Balakrishnan Tuesday denied making any allotment of shares in the proposed Kannur international airport."The paperwork has begun with regard to the allotment ... Read more...

Posted in Business |

Separatists open finance companies in Guwahati


December 6th, 2010 - 8:50 pm ICT by IANS
Guwahati, Dec 6 (IANS) Several northeast separatist groups have floated finance companies and doing business in Assam's main city Guwahati besides setting up bases in cities outside the region."It is true that ... Read more...

Posted in Uncategorized |

Three cheats held in Punjab


November 28th, 2010 - 3:01 pm ICT by IANS
Jalandhar (Punjab), Nov 28 (IANS) Three people have been arrested in Punjab for running a bogus finance company that duped scores of people here, police said Sunday.Those arrested were identified as ... Read more...

Posted in Uncategorized |

Larsen and Toubro planning Rs.2,000-crore PE fund


October 31st, 2010 - 2:27 pm ICT by IANS
By V. Jagannathan Chennai, Oct 31 (IANS) Engineering and construction group Larsen and Toubro (L&T) is planning to launch a Rs.500-2,000-crore private equity fund as part of a strategy to become a financial ... Read more...

Posted in Business |

Regulations for micro-finance companies soon


October 14th, 2010 - 10:45 pm ICT by IANS
Chennai, Oct 14 (IANS) The government is working on regulations for micro-finance institutions and consultations are on with the stakeholders, a senior finance ministry official said Thursday."Regulation for financial institutions is in ... Read more...

Posted in Business |

Andhra takes measures to rein in micro-finance firms


October 14th, 2010 - 6:05 pm ICT by IANS
Hyderabad, Oct 14 (IANS) The Andhra Pradesh cabinet Thursday approved an ordinance providing for three-year sentence and Rs.1 lakh penalty for micro-finance institutions (MFIs) harassing borrowers.The cabinet held a special meeting to ... Read more...

Posted in Business |

New banks’ minimum capital should be Rs.1,000 crore: CII


October 7th, 2010 - 9:15 pm ICT by IANS
Mumbai, Oct 7 (IANS) A leading industry lobby Thursday suggested to India's central bank that the minimum capital of the private entrants to the banking sector be pegged at Rs.1,000 crore and ... Read more...

Posted in Business |

Srei raises benchmark rate by 100 basis points


October 6th, 2010 - 9:11 pm ICT by IANS
Kolkata, Oct 6 (IANS) Non-banking finance companies Srei Infrastructure Finance Limited and Srei Equipment Finance Private Limited hiked their benchmark rate by 100 basis points from Wednesday."This increase has been necessitated due ... Read more...

Posted in Business |

US, FoDP investments in Pak linked to reforms for securing self-sufficiency


September 7th, 2010 - 2:58 pm ICT by ANI
Islamabad, Sept 7 (ANI): The United States and the Friends of Democratic Pakistan (FoDP) have linked their investments in energy, reconstruction and water sectors in Pakistan to implementation of policy and ... Read more...

Posted in South Asia |

Microfinance non-banking finance companies for financial inclusion


August 6th, 2010 - 8:00 pm ICT by IANS
Chennai, Aug 6 (IANS) There should be a separate category of micro-finance non-banking finance companies (MFNBFC) to act as correspondent banks for larger banks and help financial inclusion, the Prime Minister's Economic ... Read more...

Posted in Business |

Government to issue infrastructure bonds with tax benefits


July 9th, 2010 - 9:47 pm ICT by IANS
New Delhi, July 9 (IANS) The government Friday said it will issue infrastructure bonds with tax breaks to promote investments in the infrastructure sector. A finance ministry statement said infrastructure finance companies ... Read more...

Posted in Business |

India’s central bank starts process for new bank licenses


April 20th, 2010 - 2:30 pm ICT by IANS
Mumbai, April 20 (IANS) The Reserve Bank of India (RBI) Tuesday began the preparatory process to issue new commercial banking licenses to private sector players as suggested by Finance Minister Pranab ... Read more...

Posted in Business |

Licenses for new banks under RBI guidelines: FM


March 6th, 2010 - 9:01 pm ICT by IANS
Mumbai, March 6 (IANS) Finance Minister Pranab Mukherjee Saturday said licenses for opening new banks would be issued under the norms and criteria laid down by the Reserve Bank of India. "We ... Read more...

Posted in Business |

Finance Secretary defends withdrawal of stimulus package


February 27th, 2010 - 2:23 pm ICT by ANI
New Delhi, Feb 27 (ANI): Commenting on the new Budget proposals, Finance Secretary Ashok Chawla said that the budget is pragmatic, balanced and realistic.He said, "The economy has been through difficult times ... Read more...

Posted in National |

Non-banking financial firms happy with Pranab’s budget


February 26th, 2010 - 6:08 pm ICT by IANS
Kolkata, Feb 26 (IANS) The Non-Banking Financial Corporations (NBFCs) Friday welcomed Union Finance Minister Pranab Mukherjee's budget proposal to provide banking licenses to private sector players, saying it was a positive ... Read more...

Posted in Business |

Pranab offers incentive for private banks


February 26th, 2010 - 4:22 pm ICT by ANI
New Delhi, Feb 26 (ANI): Union Finance Minister Pranab Mukherjee on Friday announced that the Reserve Bank of India (RBI) is considering new bank licenses to promoters in the private sector ... Read more...

Posted in National |

RBI considering more licences for opening new banks: Mukherjee


February 26th, 2010 - 2:28 pm ICT by IANS
New Delhi, Feb 26 (IANS) The Reserve Bank of India is considering more licences to promoters, including those operating Non Banking Financial Companies (NBFCs), to open new banks in the country, ... Read more...

Posted in Business |

Obama considers levy on big banks


January 12th, 2010 - 4:01 pm ICT by IANS
Washington, Jan 12 (DPA) US President Barack Obama is considering a tax on large banks bailed out with government money, media reports said Tuesday. The idea was to recover as much of ... Read more...

Posted in Business |

Government asked to exempt NBFCs from tax at source


December 28th, 2009 - 6:16 pm ICT by IANS
New Delhi, Dec 28 (IANS) Non-banking finance companies (NBFCs) engaged in infrastructure financing should be exempted from tax deduction at source (TDS) on interest payment to asset financing NBFCs, an industry lobby ... Read more...

Posted in Business |

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