Jul 14, 2016 - Sidbi picks eight ventures to invest Rs 428 cr in startups

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Most Securities and Exchange Commission filings are dry affairs. LinkedIn's latest, a proxy statement that details its acquisition by Microsoft and the interest of four other suitors, is a lively one! There were 4 suitors for Linkedin, parties A, B, C and D. Party A was Salesforce and the other potential suitors - Party B and Party D - were Google and Facebook, respectively. We do not yet know who Party C is. Continue reading

Merger of 3 banks: Danger lies ahead

The merger will create India’s third largest bank, with total business worth Rs 14.82 lakh crores.

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Finance Commission does a u-turn, praises Maharashtra government

Chairman of the Finance Commission NK Singh lauded the financial discipline of Maharashtra as ideal. 

RCom caps borrowing limit to ₹50,000 crore

RCom says the resolution to revise borrowing limit was passed as special resolution by around 90% of shareholders at the annual general meeting of the company held on 18 Sept 2018

Ashish Dhawan’s CSF closes $40 million fund for early education

The fund will primarily help students from classes I-III improve their mathematics and reading skills

Birla group sells 'More' chain to Amazon-Samara

As per the country’s foreign direct investment rules, 51 per cent FDI is allowed in multi-brand retail while 100 per cent FDI is allowed in cash-and-carry ventures.

Govt appoints MDs, CEOs in 10 nationalised banks; 5 from SBI alone

Five of the 10 newly named MDs and CEOs are working as deputy managing directors in SBI.

Life Healthcare sells its 49.7% stake in Max Healthcare for $293 million

Investment firm KKR, through its portfolio company Radiant Life Care Private Limited, will buy more than 266 million shares in Max Healthcare at ₹80 per share

Opinion | What ails the Indian banking sector?

The problem escalated due to the government’s focus on infrastructure during 2002-09, especially with the efforts made to promote public-private partnerships

Govt appoints MDs, CEOs in 10 nationalised banks; 5 from SBI alone

Five of the 10 newly named MDs and CEOs are working as deputy managing directors in SBI.

RBI trims Rana Kapoor's term as Yes Bank CEO

His present term ended on August 31. However, the RBI had allowed him to continue till further notice.

Freshworks opens Bengaluru office to ramp up its data science efforts

The new centre will be focussed on building new platforms and to dedicate more resources to its data science requirements.

Private equity investment deal tally touches $12.84 billion in January-August, says report

Private equity investments worth USD 1.33 billion were announced in August, taking the year-to-date deal value to USD 12.84 billion, says a report.

Flipkart launches cashless credit, may apply for NBFC license

Flipkart’s so-called cardless credit programme will give shoppers access to an instant credit line of up to Rs 60,000

Samara-Amazon to acquire ABRL’s More

The transaction is said to be valued at around ₹4,200 crore

Mastercard appoints Mahendra Singh Dhoni as new brand ambassador

As part of the new partnership, Mastercard will leverage Dhoni’s mass following to promote its cash-to-digital campaign to drive debit card usage in Tier II and Tier III cities

Irdai to develop ‘sandbox’ approach for fintech-related products

Irdai sets up a panel to dwell on key regulatory issues fintech poses across insurance value chain and study practices followed in financial sectors

SBI to raise $500 million in maiden green bond sale

The tenor of the SBI green bonds is expected to be five years and the notes are to be issued by the bank’s London branch

Gujarat Assembly increases MLAs' salary by at least Rs 45,000

The revised salaries will come into effect retrospectively from February 2017, with a disbursal of Rs 6 crore in arrears.

New Sectors Are Contributing To Indian Economy: JPMorgan's Nicolas Aguzin

India’s world beating GDP growth numbers are riding on the unlocking of efficiency stemming from micro-economic models and“India’s growth over 8 percent with relativity lower inflation rises attention,” said Nicolas Aguzin, Chairman & Chief Executive Officer, JPMorgan Asia Pacific, in an interaction to BloombergQuint. “New sectors that are emerging that were not easy to track in the past and we have all micro-economic models. We don’t take into account all those efficiencies.”

Rising liquidity issues in IL FS credit negative for Indian banks: Moody's

Moody's Investors Service Wednesday said rising liquidity issues in IL&FS, which has recently defaulted on repayment of Rs 100 crore, are credit negative for Indian banks. The debts incurred by IL&FS in the form of bank loans accounted for around 0.5-0.7

The next bank merger: A dampener already?

Questions are already afoot on the recently announced three-bank merger; experts' fear that focus for Bank of Baroda could shift from tackling NPAs to integration of the banks

OYO set to expand into Britain, eyes 300 budget hotels by the end of 2019

OYO said it plans to invest £40 million to launch in 10 UK cities over the next 18 months through a smartphone-based service aimed at both franchise owners and guests

Life with and beyond fund managers

Successful fund managers can often become stars of the financial markets

China took out $500 billion a year from US to rebuild itself: Trump

Trump's remarks came a day after Trump announced that the US will slap 10% tariffs on $200 billion worth of Chinese imports.

Dinesh Engineers sets price band for IPO

Dinesh Engineers IPO, through which it is estimated to raise Rs 185 crore, will be open for public subscription on September 28 and close on October 3

Home Credit India Finance Pvt Ltd

Home Credit India Finance Pvt Ltd has informed BSE regarding Intimation of allotment of 1500 rated, secured, senior, redeemable, listed, Non-convertible Debentures on Private Placement basis. Pdf L

India Post Payments Bank formalises agreement with Bajaj Allianz to sell life-insurance

Speaking about the need to enter a strategic tie-up with a third-party insurer, the state-run payments banks chief executive said, “We are a payments bank, so we are not licensed to sell insurance. Thats why we are tying-up with Bajaj Allianz.”

Aye Finance to double its employees to support financial inclusion of MSMEs in India

The fintech leader in the MSME lending space, “Aye Finance” will be doubling its team size in the current financial year, taking its number of employees to 1800.

Indian economy might topple US by 2050, but workforce quality remains concern

India Business News: Global power, economic and strategic, is shifting eastwards. The region is home to three of the world’s four largest economies and by 2025 two-thirds

Blackstone makes all-cash offer for PNB Housing Finance

“Blackstone is the only bidder to have expressed its intention to pay an all-cash deal to buy out PNB Housing Finance,” said a source close to the development.

Livspace raises $70 million from TPG Capital, Goldman Sachs, others

Livspace will use the funding from TPG Capital and Goldman Sachs primarily to grow sales faster, even as it seeks to expand to new cities and open large number of stores

Baring PE Asia in talks to acquire 26% stake in Lakshmi Vilas Bank

Lakshmi Vilas Bank is keen on selling up to 51% stake if the Reserve Bank of India permits, but bad loans seen clouding a potential deal

Shareholders put a rider ahead of IL FS bailout talks

Shareholders have asked the IL&FS management to table a comprehensive turnaround and deleveraging plan, before talks of a potential bailout can be initiated

Bank of India puts 45 bad loan accounts worth Rs 8800 crore on sale

The bad loans include those of Essar Steel, Binani Cement, Bhushan Power and GMR Chhattisgarh.

Corporate casualties of a weakening rupee and surging crude oil prices

Rising crude oil prices and a depreciating rupee would impact financial performance of manufacturers of tiles, plywood, paints and adhesives, and oil marketing companies

Law firm, Cyril Amarchand Mangaldas, under scanner in PNB fraud probe

Cyril Amarchand Mangaldas is being scrutinized in the $2 bn fraud at state-run Punjab National Bank scam.

UiPath gets $225 million in fresh funding

India Business News: Robotic-process automation (RPA) platform UiPath, which helps companies with repetitive tasks to boost productivity, has raised $225 million in a seri

CCI asks Linde and Praxair to sell their India assets before global merger

CCI says an investigation into the Linde-Praxair merger deal showed it is likely to have an appreciable adverse effect on competition in some markets in India

ICICI Bank says not filed for settlement with Sebi

ICICI Bank has clarified that it hasn’t filed with Sebi a settlement application in the Chanda Kochhar issue

Apple’s Tim Cook, Alibaba’s Jack Ma see US-China trade war differently

While Apple CEO Tim Cook said that he was optimistic on US-China trade talks, Alibaba’s Jack Ma warned the US-China trade war could last 20 years

Sebi approves KYC norms for FPIs, new settlement mechanism

Sebi has approved a proposal to allow foreign investors to trade in commodity derivatives market, except for sensitive commodities

Investors lose ₹2.72 trillion in two days of market fall

Led by the sharp fall in stocks, the market capitalisation (m-cap) of BSE-listed companies plunged ₹2,72,549.15 crore to ₹1,53,64,470 crore since Friday

Walmart got Flipkart but Amazon now has More
Walmart got Flipkart but Amazon now has More
Amazon has acquired 49% of More stores which will be critical for its omni-channel strategy.

Mahindra Logistics may look at funding start-ups
Mahindra Logistics may look at funding start-ups
Mahindra Logistics, looking at strengthening its information technology (IT) backbone in a bid to make it big in the logistics industry, may look at picking up stake in start-ups which are into advanced technologies.

'Frshly' prepared
'Frshly' prepared
The concept of this cutting-edge food solution came to Satish Chamyvelumani, founder and CEO of Frshly, when he was travelling by train.

Living life 'happy' size
Living life 'happy' size
Six years back, Kaveri Lalchand started her brand K clothing with just three sewing machines in her home garden.

Four Walmart execs reportedly joining company's Indian e-commerce investment
Four Walmart execs reportedly joining company's Indian e-commerce investment
Mere weeks after completing its acquisition of Flipkart, Walmart is making its first move to integrate the two companies.

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