Eveready Industries Q1 net profit rises threefold; ICDs remain a concern
However, the amount of outstanding inter-corporate deposits (ICDs) to stressed promoter group companies increased compared with the year-ago period, and remain a cause of concern.
ITC Executive Director: Leveraged synergy of brands with partners’ reach
Some of the unconventional tie-ups for delivery of our products to consumers included diverse companies such as Dominos, Swiggy, Zomato, Dunzo, Amway etc.
International biz could be revenue-driver: Emami
Emami had last year acquired Creme 21, a Germany-based personal care brand, which has strong presence in Middle-East and European markets, for nearly Rs 100 crore.
One-time loan recast scheme difficult to implement: Srei Infrastructure Finance V-C
The government and the RBI have been trying their best to cushion the impact of Covid-19 on the economy and businesses.
Bandhan Bank aims to expand home loan portfolio in states having housing shortage
Home loan products are now available in 302 banking outlets across the country, and the private sector bank will be ramping up the presence to cover a larger portion of its pan-India network of 4,559 banking outlets.
‘Covid may not have very severe impact on life insurance industry’
Exide Life Insurance’s gross written premium (GWP) witnessed growth of 12% year on year in the last financial year.
Currently, about 98% of our sales are paperless: Mayank Bathwal, CEO, Aditya Birla Health Insurance
In the present scenario, medical tests are not feasible either because people are not willing to go for it owing to their safety or because of lockdown in many parts of the country.
INTERVIEW| We expect 15-20% Y-o-Y growth in advances: Chandra Shekhar Ghosh, MD & CEO, Bandhan Bank
Bandhan Bank expects collection efficiency in both microfinance and non-microfinance segments to become almost normal by second quarter this fiscal year, says its managing director and CEO Chandra Shekhar Ghosh.
Covid presents opportunity to work on digital platform: Sreeleathers director Rochita Dey
But, with the rise in population, it is most important for us to be conscious about what would be the impacts of our consumption on the environment.
Aditya Birla Sun Life CEO explains insurance business amid Covid crisis
Even though reinsurers have changed their rates significantly, making the premium costlier, the interest towards the purchase of protection plans have moved up.
‘RBI should allow one-time restructuring of loans to help NBFCs’
The measures announced by the finance minister and RBI in the last few weeks are going to have medium- to long-term benefits and will alleviate the liquidity conundrum to a certain extent.
Amphan cyclone: Insurers estimate losses up to Rs 1,000 crore
With the general insurers receiving mostly property and motor claims after cyclone Amphan caused widespread distructions in West Bengal and Odisha, the insured losses from the calamity could be in the range from Rs 800 crore
Special window: Microlenders better equipped to disburse loans to street vendors, says MFI body
Last week, the government unveiled Rs 5,000-crore special credit facility for street vendors. Under this scheme, a vendor can get initial working capital up to Rs 10,000. Sitharaman had said this scheme would support nearly 5
Bandhan Bank INTERVIEW | Will focus more on secured loans, as it looks to diversify loan book
Bandhan Bank expects around four weeks could be needed for normalization of its microfinance collections after the countrywide lockdown is lifted.
MFIs see demand picking up soon due to emergency loan requirement, kharif cultivation
Microfinance institutions (MFIs) believe the industry will bounce back in no time as they see demand for microcredit rising soon because of emergency loan requirements of their customers to restart businesses.
It’ll be difficult to disburse interim funds to IBC firms: CS Setty, managing director, State Bank of India
Right now it won’t be feasible to give the exact numbers since we are still receiving requests for availing moratorium, CS Setty, managing director, State Bank of India said.
Covid-19 lockdown: Stressed firms under IBC find it hard to stay afloat
Insolvency professionals that FE spoke to said cash flow of such firms has been badly hit in the aftermath of the Covid-19 outbreak and the lockdown.
Microfinance industry hopes IBA meet to lead to ‘in-principle decision’ on loan moratorium to MFIs
Notably, following RBI's announcement on allowing a moratorium on term loans for March 1 to May 31, most of the MFIs have extended a moratorium to their borrowers till May 31.
‘Bandhan Bank does not foresee much hiccups in microfinance collections once lockdown lifted’
Loans and advances grew 60% year-on-year during 2019-20, from Rs 44,776 crore in March 31, 2019. Its total deposits grew 32% y-o-y to Rs 57,073 crore during the fiscal ended March, 2020. The bank had total deposits of Rs 43,2
Over 90% of our term loan customers may avail EMI deferment facility: Mallikarjuna Rao, MD & CEO, Punjab National Bank
PNB expects more than 90% of the term loan customers of the merged entity to avail the facility of deferment of instalments, managing director and CEO SS Mallikarjuna Rao said.
Covid-19 no challenge for Indian Bank-Allahabad Bank merger
According to the swap ratio, 115 equity shares of Chennai-based Indian Bank are to be exchanged for every 1,000 equity shares of Allahabad Bank. Indian Bank is the anchor bank in this merger process.
United Bank says its valuation ‘low’ largely due to lower net worth
Punjab National Bank (PNB) announced the share exchange ratio for the proposed merger following its board meet on March 5.
Will take all steps to build right ecosystem to make Odisha leader in technology space: Patnaik
The state government plans to unveil its refurbished policies for information technology (IT), IT-enabled services (ITeS), and new policies for BPO and data centre by April this year.
Partial credit guarantee won’t fully solve liquidity problem: Hemant Kanoria, chairman, Srei Infrastructure Finance
The government has a clear vision for infrastructure investments in the medium to long term. However, in the short term, there are certain hurdles which the government is aware of and is consciously trying to address.
Budget 2020: For ITC, tax hikes likely in range of 9-15% due to rise in excise duty on cigarette
Budget 2020 India: The tax hikes, in effect, at the portfolio level is likely to be about 11%, which means the company would need to raise MRP by 6–7% to offset the same.
UCO Bank trying to reduce NPA provision, raise operating profit: CEO Atul Kumar Goel
As the bank received fresh capital of around Rs 2,142 crore from the government in the first week of January, capital adequacy ratio will improve further.
Better Realisation: Eyeing one-time settlement for more IBC cases
After successful resolutions of Bhushan Power and Alok Industries, the bank is likely to write back over Rs 500 crore of provisions with having a total exposure of around Rs 1,500-1,600 crore.
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