RBI lifts restriction on foreign investment in IDFC

The Reserve Bank of India (RBI) has removed the restriction on foreign investment in IDFC Ltd after the shareholding of overseas investors fell below the prescribed level. “The foreign shareholding by foreign institutional investors/foreign portfolio investors in IDFC have gone below the prescribed FII/FPI investment limit. Hence, the restrictions placed on the purchase of shares… Continue reading RBI lifts restriction on foreign investment in IDFC

IDBI Bank to raise up to Rs 5,000 crore

Mumbai-based public sector lender IDBI Bank is seeking shareholders’ nod to raise equity capital of up to Rs 5,000 crore through various routes, including qualified institutional placement (QIP), to meet capital adequacy norms. In addition, the ailing bank will tap market to raise up to Rs 5,000 crore through infrastructure bonds and basel-III-compliant additional tier-I… Continue reading IDBI Bank to raise up to Rs 5,000 crore

Bandhan Bank to open 160 branches more

Bandhan Bank is targetting to open another 160 branches to reach the 1000-mark by the end of this financial year, Managing Director and Chief Executive Officer of Bandhan bank Chandra Shekhar Ghosh said on Sunday. “We are planning to open more branches at different locations and reach the 1000-mark by the end of this financial… Continue reading Bandhan Bank to open 160 branches more

RBI policy a positive surprise for housing finance cos; expect rate cuts

Financial News : While the Reserve Bank of India (RBI) kept policy rates unchanged in the second bi-monthly policy of this financial year, a key positive was reduction in risk weights assigned to home loans lent on or after June 7. Risk weights help banks and non-banking financial companies (NBFCs) to assess the risk associated… Continue reading RBI policy a positive surprise for housing finance cos; expect rate cuts

Katrina is one of the best dancers in B’wood: Salman

Looks like Salman Khan leaves no stone unturned to express his fondness for Katrina Kaif. At the IIFA 2017 press con here yesterday, while Katrina was speaking about her performance for the award night, the ‘Dabangg’ Khan interrupted, saying, “But you don’t have to worry anything about her. I think she is one of the… Continue reading Katrina is one of the best dancers in B’wood: Salman

Micromax’s premium Dual 5 for Rs 24,999: Features, security, dual camera

Homegrown smartphone maker Micromax on Wednesday announced the launch of 4G VoLTE-ready smartphone’Dual 5′. Priced at Rs 24,999, the new device marks Micromax’s foray into the premium handset segment.   The company will start selling Dual 5 from April 10. Enhanced security and better after-sales customer service, aside from the massive 13 MP front camera,… Continue reading Micromax’s premium Dual 5 for Rs 24,999: Features, security, dual camera

UP elections 2017: Poll promises have not changed in 15 years; here’s why

Pihani, Uttar Pradesh: For 16 years, Kailash Rai (not his real name), 49, has been commuting six hours every working day between his home in the state capital Lucknow and the government degree college where he teaches in Pihani, 135 km to the northwest. A political-science lecturer, Rai cannot move with his family to Pihani,… Continue reading UP elections 2017: Poll promises have not changed in 15 years; here’s why