Tag Archives: finance:

Aye Finance raises Rs 25 cr from Hinduja Finance & Intellegrow

Delhi-based MSME lending platform Aye Finance has raised Rs 25 crore from Hinduja Leyland Finance and Intellegrow.   This is the second securitisation deal for the company. Last year it had raised Rs 10 crore by securitising part of its portfolio.   Sanjay Sharma, Founder and Managing Director Aye Finance said, “The loan requirements of these businesses ranges between Rs 50,000 and Rs ... Read More »

Eros ‘Self-Sufficient’ To Finance Its Content Partnership With Reliance, Says Jyoti Deshpande

Eros International Plc and its India subsidiary have sufficient cash-in-hand to finance its content partnership with Reliance Industries Ltd. That’s the word coming in from Eros’ group chief executive officer, Jyoti Deshpande, who will henceforth be stepping down from her position to head Reliance’s media and entertainment arm as the President of the Chairman’s office, as announced by the group ... Read More »

View: Technology can help check frauds in trade finance

Trade finance frauds will motivate banks to adopt distributed digital ledger technologies in 2018. By Shiv Kumar Bhasin Trade finance by banks and other financial institutions is a vital function in international commerce, as it provides delivery and payment assurance to buyers and sellers, and it helps close the gap in trade cycle funding for these parties. The growth and ... Read More »

Bail-in clause in FRDI Bill will only be used sparingly: Finance ministry

Subhash Chandra Garg, secretary in the department of economic affairs in the finance ministry. New Delhi: Seeking to assuage concerns of depositors, the finance ministry on Tuesday defended the bail-in clause in the FRDI Bill and said the provision will only be used sparingly. The ministry also said the bail-in clause in the Financial Resolution and Deposit Insurance Bill, 2017, is ... Read More »

‘Finance dept. office buildings in all districts’

‘Efforts are on to recruit employees in a phased manner’ The State government is planning to undertake construction of office buildings to the Finance Department in all the districts, besides ensuring permanent buildings to house the sub-treasury offices, according to Finance Minister Yanamala Ramakrishnudu. Along with Home Minister N. Chinarajappa and local elected representatives, he laid foundation stone for the ... Read More »

Bitcoin is not legal tender in India: finance ministry

Last week the Ministry of Finance said that virtual currencies (VCs), including bitcoins, are not currencies. “VCs are not currencies. These are also being described as ‘coins’. There is however no physical attribute to these coins. Therefore, VCs are neither currencies nor coins,” the ministry said in a press statement. It further clarified that virtual currencies are not backed by ... Read More »

Sell Can Fin Homes, Repco Home Finance: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, “Can Fin Homes is a sell with a stoploss of Rs 485, target of Rs 460.” “Repco Home Finance is a sell with a stop of Rs 682, target of Rs 660.” “Hindalco Industries is a buy with a stoploss of Rs 274, target of Rs 289,” he added. At 13:20 hrs Hindalco Industries was quoting at ... Read More »

UK mortgage approvals hit 15-month low in November – UK Finance

LONDON (Reuters) – British banks approved the fewest mortgages in 15 months in November, when the Bank of England raised interest rates for the first time in more than a decade, industry figures showed on Thursday. FILE PHOTO – A row of houses are seen in London, Britain June 3, 2015. REUTERS/Suzanne Plunkett Banks approved 39,507 mortgages for house purchase ... Read More »

The Time of Finance

THE GLOBAL FINANCIAL CRISIS has done next to nothing to change the convictions of mainstream economists. But the widespread lament over their willful blindness seems misplaced: there was never a realistic possibility that the economics profession would voluntarily break with the methodological sophistication and statistical formalism at the heart of its identity. Far more frustrating than the resilience of orthodox ... Read More »

Finance Ministry warns about cryptocurrencies

The government has joined the Reserve Bank of India in cautioning potential customers from investing in cryptocurrencies such as Bitcoin, likening them to Ponzi schemes. “There has been a phenomenal increase in recent times in the price of virtual ‘currencies’ (VCs) including Bitcoin, in India and globally,” the Finance Ministry said in a statement on Friday. “VCs don’t have any ... Read More »