HDFC ties up with Indian Post Payments Bank for Home loan distribution

In one of it’s kind of arrangements (especially for HDFC Limited), HDFC has tied up with Indian Post Payments Bank (IPPB) for home loan distribution. Key points to note – IPPB has about 4.7 crore customers. HDFC’s idea here seems to get aggressive on affordable housing. HDFC said, “The partnership aims to facilitate HDFC Ltd.’s … Read more

Shriram City Union Finance looking interesting

Shriram City Union Finance (SCUF) stock has been a significant under performer since the beginning of 2015. Stock is currently trading at about Rs 2,300 compared with Rs 2,042 in January 2015 and the all time high of Rs 2,396 in October 2016. This is an NBFC that is significantly exposed towards the auto sector … Read more

RBI supersedes Srei’s Board. Appoints administrator.

RBI on October 4, 2021 superseded the struggling NBFC, Srei’s board, appointed an administrator (ex CGM of Bank of Baroda) and intends to shortly put it under the insolvency process (ICBC). Action has covered both Srei Infrastructure Finance and it’s wholly owned subsidiary Srei Equipment finance Ltd. Key points to note – The action came … Read more

We’re looking to onboard 20-25 mn wallets by March 2023: Bajaj Finance MD

Consumer financier Bajaj Finance, which launched its wallet business this July, is aiming to onboard 20-25 million wallets onto its fold by March 2023. The company is currently onboarding 800,000 to 1 million new wallets every month, managing director (MD) Rajeev Jain said. Addressing an analyst call organised by Morgan Stanley, Jain said, “We are … Read more

To comply with updated regulations, Vishal Kampani vacates MD’s office

Vishal Kampani, son of Nimesh Kampani (Indian securities market veteran) decides not to seek re-appointment as MD of JM Financial (JMF) and instead decides to take the position of Non-Executive Vice Chairman w.e.f. October 1, 2021. Key points to note – Kampanis (promoter family) own 54.75% of JMF. Decision to give up MD post is … Read more