Sector: Banks & FIs
M&M buys into RBL
In a sudden announcement, M&M has informed to have acquired 3.53% stake into RBL Bank. Stake has been acquired from secondary market at a total value of Rs 417 cr. Average acquisition price is estimated at around Rs 199 per share as against RBL’s current trading price of Rs 239/ share. M&M has informed that … Read more
RBI asks banks to remain extra careful and vigilant, focus on governance
Reserve Bank Governor Shaktikanta Das Tuesday asked Indian banks to be extra careful and vigilant in view of the adverse global developments while strengthening corporate governance. The governor held meetings with the MD and CEOs of public sector banks and select private sector banks in Mumbai. The meetings were also attended by Deputy Governors, M. … Read more
Bajaj Auto applies for new NBFC
Bajaj Auto (BAL) has sought RBI approval for setting up a new NBFC. The application is currently under consideration by the regulator. The proposed NBFC is for captive financing of Company’s two wheelers and three wheelers. Currently more than 40% of BAL’s vehicles get financed by Bajaj Finance (BFL, the group company), which in turn … Read more
Final leg of IDFC restructuring announced
Background about the restructuring IDFC was granted in-principle approval by RBI to set up a bank in April 2014, leading to the creation of IDFC Bank Limited and IDFC Financial Holding Company Limited (IDFC FHCL). IDFC FHCL is the non operative holding company and in compliance with the RBI regulations, was mandated to hold the … Read more