Kotak Mahindra Bank Saturday confirmed that it is looking at Deutsche Bank’s retail business, which is on the block, while stating that it has dropped out of IDBI Bank acquisition race because of the valuation and it would be ‘difficult to swallow’.Responding to queries at an earnings press conference Ashok Vaswani, MD & CEO said … Read more
Pirojsha Godrej is taking control of the Godrej Industries group. He will succeed Nadir Godrej as Chairperson of the Godrej Industries Group and Godrej Industries Limited, effective August 14, 2026. Pirojsha will also continue to serve as Chairperson of Godrej Properties, Godrej Capital, and Godrej Ventures. With this change, there is general expectation of an aggressive growth … Read more
The oversized syndicate will help manage distribution, anchor allocations and investor outreach for one of India’s biggest listings while ensuring major dealmakers remain inside the transaction. Source link
The Reserve Bank of India has capped the maximum dividend payout by banks at 75% of profit after tax (PAT), with the new prudential norms set to take effect from the financial year 2026-27.The central bank on Tuesday issued the Reserve Bank of India (Commercial Banks – Prudential Norms on Declaration of Dividend and Remittances … Read more
Apple Inc. is in discussions with key Indian banks and global card networks in preparation to start Apple Pay in the world’s most populous country. The iPhone maker is in talks with ICICI Bank Ltd., HDFC Bank Ltd. and Axis Bank Ltd., as it aims to introduce its payment service in India around the middle … Read more
Vivriti Group, led by Vineet Sukumar, announced on Tuesday the creation of a new operating and holding company to house its lending and private credit business under a unified platform, to extend beyond its core offerings with the founder infusing ₹200 crore in fresh capital. Vivriti Group, led by Vineet Sukumar, announced a new unified … Read more
A routine account-closure request from a Haryana government department has triggered one of the most serious fraud investigations ever reported by IDFC First Bank. The case relates to a single bank branch in Chandigarh. The alert came when a Haryana department asked the bank to shut its account and transfer the funds elsewhere. While processing … Read more
Edelweiss Financial Services (EFSL) is divesting majority of it’s stake in the Home Finance Business. The subject business is currently under Nido Home Finance Limited (Nido), a wholly-owned subsidiary of EFSL. EFSL is divesting 73% stake of this entity through a mix of primary and secondary to Carlyle group and Aditya Puri Family investment vehicle. … Read more
Many corporate groups are caught in a bind over a Reserve Bank of India (RBI) rule on their holding and strategic investment companies. While promoter families use these entities to own equity stakes and control group companies, they are unlike regular holding companies. The difference lies in their income streams: more than half of their … Read more