Paytm Payments Services Ltd (PPSL) is a subsidiary of One97 Communications Ltd (OCL), the parent of Paytm. OCL had proposed to transfer the payment aggregator (PA) services business undertaken by it to PPSL in December 2020 to comply with the guidelines of the banking regulator. However, the RBI had rejected its application. The company had … Read more
SBI Cards has informed that, it’s Chief Risk Officer (CRO) Ms Aparna Kuppuswamy has resigned from the services of the Company. Reason for resignation – has not been informed. Last date at the Company – February 10, 2023 Any reason for being concerned? CRO is an important position in an NBFC. However, given the overall … Read more
Shriram Housing finance (SHF) is a 85% subsidiary of Shriram City Union Finance (SCUF). SHF’s MD & CEO, Ravi Subramanian has informed the following – They are looking to grow both organically and inorganically Organically, the Company clocked a 54% year-on-year loan asset growth to Rs 6,546 crore at the end of September 2022 and … Read more
As the mandatory lockin period of 1 yr is ending, Softbank has decided to offload 4.5% stake of Paytm through block deal. Prior to this sell, Softbank was the second largest shareholder (after Alibaba group) with 17.5% stake in Paytm. It’s second largest position will continue with 13% balance stake. Softbank has offered to sell … Read more
In an interview, Yashish Dahiya, Chairman and Chief Executive Officer of PB Fintech highlighted the following – “We started our new initiatives after the market started focusing on profitability. We are not reducing our new initiatives or killing them. We are only getting a little more efficient, which is exactly what we would do anyway. … Read more
Govt holds stake in Axis bank through Specified Undertaking of UTI (SUUTI). Shareholding was transferred to SUUTI (an investment vehicle) in 2003 when a scheme of the Unit Trust of India failed and was bailed out. At that time, SUUTI held investments in more than 40 companies, which it has been slowly exiting since then. … Read more
Chancellor of the Exchequer Jeremy Hunt plans to cut a surcharge on UK bank profits, effectively shielding them from the bulk of an increase in the country’s corporate tax rate as the government tries to preserve the competitiveness of Britain’s finance industry. What to expect in UK Chancellor’s plan to fix fiscal hole UK banks … Read more
Alongside Q2 FY 23 results, Reliance Industries Limited (RIL) has announced demerger and listing of a subsidiary, Reliance Strategic Investments Limited (RSIL) to focus on the financial services segment. RSIL is currently a wholly-owned subsidiary of RIL and is a RBI-registered non-Deposit taking Systemically Important (ND-SI) Non-Banking Financial Company (NBFC). RIL will demerge it’s financial … Read more
Tennis icons Venus and Serena Williams have become investors in social trading app Shares. The London-based startup recently closed a $40 million round led by Peter Thiel’s Valar Ventures. Check out the 20-slide pitch deck Shares used to raise its $40 million Series B round. Two of the most iconic tennis players ever Venus and … Read more