Finance

Opinion | The role of finance commissions in sustainable development

Irrespective of controversies around the remit of 15th Finance Commission (FC), it is evident from its terms of reference that the government wants it to play a key role in fostering sustainable development in India. Indeed, constitutional status and the ability to suggest far-reaching reforms on financing, allocation and use of funds by three tiers of governance makes the central ... Read More »

L&T Finance to launch Rs 1,500 crore NCD issue

Mumbai: L&T Finance said on Thursday it will launch a non-convertible debenture (NCD) issue to raise up to Rs 1,500 crore, yielding up to 9.35 per cent per annum. This tranche opens for subscription on March 6 and closes on March 20. The issue size is Rs 500 crore, with a greenshoe option of Rs 1,000 crore. These secured NCDs are rated ... Read More »

Finance Secretary Ajay Narayan Jha Gets One-Month Extension

Ajay Narayan Jha is a 1982 batch Indian Administrative Service officer of Manipur cadre. NEW DELHI: Finance Secretary Ajay Narayan Jha has been given one-month extension in service and appointed as the member of the 15th Finance Commission, according to a Personnel Ministry order. He is a 1982 batch Indian Administrative Service officer of Manipur cadre. The Appointments Committee of the ... Read More »

Family finance: Why Singh will have to wait for a rise in income to meet goals

Pune-based Singh will have to wait for a rise in income to start investment for all financial goals. Rabendra Singh is a 40-yearold IT professional getting a monthly salary of Rs 1.14 lakh. He stays with his homemaker wife and two kids, aged 10 and two, in their own house, in Pune. The outstanding loan for the house is Rs ... Read More »

UBI, Srei Equipment Finance enter pact for MSME sector finance

United Bank of India and Srei Equipment Finance have entered into an agreement for financing the MSME and agriculture sectors. Under the pact, UBI would leverage its low-cost loans with Srei to enable purchase of equipment and vehicles in a seamless manner, a statement by the state-run lender said. United Bank MD and CEO Ashok Kumar Pradhan hailed the agreement ... Read More »

Sterling plummets to 21-month low as UK government pulls Parliament’s vote on Brexit

Victoria Jones – PA Images | PA Images | Getty Images Prime Minister Theresa May leaving 10 Downing Street, London, ahead of Prime Minister’s Questions. Sterling slumped to a 21-month low as British Prime Minister Theresa May confirmed that the government would delay a Brexit vote in the parliament, that had earlier been scheduled for Tuesday. Earlier on Monday, the ... Read More »

How to talk about money when you work in finance

When you work in finance, you are steeped in money. You almost certainly earn more money than the average person (unless maybe they work in the Swiss pharmaceutical sector) and you likely think of transactions denominated in fiat currencies throughout your day. In the same way that Eskimos have many words for snow, finance professionals therefore have many words for ... Read More »

UK outsourcer Capita poaches Go-Ahead finance chief

Patrick Butcher’s appointment comes as group seeks turnround following profit warnings Capita, the UK’s largest outsourcer, has poached a new chief finance officer from transport group Go-Ahead. Patrick Butcher will take control of Capita’s finances at a difficult time for the company, which is working on a turnround following multiple profit warnings last year. Mr Butcher has 19 years of ... Read More »

Venues Banned from Hosting Crypto Events in Beijing’s Finance District

Shopping malls, hotels, restaurants, and office buildings in downtown Beijing have been ordered not to provide venues for activities that promote cryptocurrencies. A document, first circulated online on Wednesday, indicates that the district government has now banned commercial properties from hosting events relating to “cryptocurrency talks and promotion.” The missive appeared to have been issued on Aug. 17 from the ... Read More »

Uber appoints new head of finance as it marches toward an IPO

Picking a chief financial officer is crucial for Uber because the company has said it plans to go public by the end of 2019 SAN FRANCISCO — After a year’s long search, Uber has finally found a chief financial officer as it advances toward an initial public offering. The ride-hailing company said Tuesday that it had hired Nelson J. Chai, 53, a ... Read More »