Bajaj Housing Finance (BHFL) was set up in 2017 as a 100% subsidiary of Bajaj Finance (BFL). BHFL’s IPO is coming on September 9, 2024 with a price band of Rs 66-70/ share Issue size is Rs 6,560 cr Rs 3,560 cr fresh capital Rs 3,000 cr offer for sale BFL is diluting 10-11% through … Read more
The Reserve Bank of India (RBI) may grant non-banking financial companies (NBFCs) access to the public tech platform for frictionless credit (PTPFC). Earlier this week, RBI Governor Shaktikanta Das announced that the PTPFC would be rebranded as the Unified Lending Interface. He compared its potential impact on lending to the transformation brought by the Unified … Read more
Prime Minister Narendra Modi on Friday during the keynote speech at a special session of Global Fintech Fest 2024 held in Mumbai said that there is festivity in economy and markets. PM further said that the fintech revolution is everywhere. He said there was a time when people used to get amazed by our cultural … Read more
State Bank of India (SBI) will strive to become the most valued financial institution and also increase its net profit, the lender’s new Chairman, C S Setty said on Wednesday as he asserted that this is India’s decade. Soon after taking charge of the nation’s largest bank, Setty assured employees that all efforts would be … Read more
Finance minister Nirmala Sitharaman on Monday nudged state-run banks to step up deposit mobilisation and conduct special drives so that it can keep pace with the growth in loans. The minister’s comments at a meeting with public sector bank chiefs came amid data by SBI Research suggesting that bank deposits, traditionally favoured for their safety … Read more
Central bankers aren’t born as chronic worriers, but they quickly acquire the trait. They are now spending considerable time fretting about artificial intelligence: Its ability to play havoc with prices, jobs, and the security of banking. As gut-wrenching as the meltdown of 2008 was, imagine if a rogue machine turbocharged a market rout. It’s not quite … Read more
HDFC Bank will undertake a system upgrade on July 13, wherein it will migrate its core banking system (CBS) to a new engineered platform to enhance customer experience, the bank said on Monday. The migration will allow the bank to improve performance speed, expand capacity to handle high traffic volume, and boost reliability and scalability, … Read more
State Bank of India (SBI), the country’s largest lender, raised Rs 10,000 crore through 15-year infrastructure bonds to fund projects in sectors like power and roads. The coupon rate for the bonds is fixed at 7.36 per cent. The issue was oversubscribed by almost four times the base issue size of Rs 5,000 crore. Earlier, … Read more
With the objective to take advantage of the upcoming growth opportunities, IDFC First Bank has announced a Rs 3,200 cr preferential issue (current mcap of the Bank is around Rs 55,000 cr). The issue is priced at Rs 80.63/ share. It’s close to the current market price of Rs 77-78/ share. Subscribers to the preferential … Read more