As per the news reports, a merger between the unlisted Shriram Capital (SC) and the listed arms – Shriram Transport Finance Company (STFC) and Shriram City Union Finance (SCUF) may be announced soon. Key points to note – The proposed merger of the three entities is targeted towards group consolidation of NBFC business under one … Read more
Padmaja Gangireddy, the Founder Managing Director of Spandana Sphoorty Finance (SSF) has resigned. Key points to note – SSF is a private equity controlled entity. Kedaara Capital owns about 45% of the Company whereas Padmaja owns about 17%. Padmaja in a letter to employees has attributed the reason for resignation to be her disagreement of … Read more
In an Economic Times report of November 5, there were some corporate governance issues at Indusind’s microfinance subsidiary Bharat Financial Inclusion (BFI). Indusind had acquired BFI (erswhile SKS Microfinance) in March 2019. As per the subject report – Between October 17 and 24, several senior employees of BFI had written to the Reserve Bank of … Read more
Mr. Das will head the RBI till December, 2024 The government has extended the term of Reserve Bank of India Governor Shaktikanta Das by another three years upto December 2024, according to an official order. Mr. Das was appointed the RBI’s 25th governor on December 11, 2018, initially for a period of three years. An … Read more