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Rajesh Ravi

Articles By Rajesh Ravi

322 Articles

RBI advises Dhanlaxmi Bank to ensure transparency in nominating directors

The board kept in abeyance the recommendations of the nomination and remuneration committee of the bank, including the reappointment of prominent investor Ravi Pillai.

“It is a truncated board and they want to keep it that way to have a controlling stake. It helps them to take unilateral decisions against shareholders' interests, corporate governance, Companies Act, Sebi LODR and even RBI circulars,” sources added.

Dhanlaxmi Bank shareholders reject appointment of statutory auditors

The shareholders also rejected the resolution of authorizing the board of directors to appoint and fix the remuneration of branch auditors.

dhanlaxmi bank

Kerala High Court asks Dhanlaxmi Bank to adjourn AGM

The single bench of the high court gave an interim order directing the bank to adjourn the AGM to a day after one month after transacting the businesses included in the agenda for the meeting.

Dhanlaxmi Bank

Fresh troubles surface for Dhanlaxmi Bank

The petitioners had to move their candidature under Section 160 of the Companies Act after the board decided to defer their candidatures.

A shareholder and two others have approached the court against the board’s decision of rejecting their candidature for the office of director, to be placed before members during the annual general meeting scheduled for September 29.

During pandemic, gold consolidated its safe haven status: Ahammed MP, chairman, Malabar Gold & Diamonds

As the economy is reviving, the consumer sentiment and demand are witnessing significant improvement. Footfalls are gradually increasing in all our stores across the country.

Ahammed MP, chairman, Malabar Gold & Diamonds

NIM will be under pressure due to low market rates: Murali Ramakrishnan, MD & CEO, South Indian Bank

Compared to Q1, I am seeing growth in all the products. Among the products, corporate is showing growth in quantitative terms due to larger deals.

SIB MD & CEO Murali Ramakrishnan

Muthoot Finance expects gold loan business to drive bottom line in Q2

“We should be seeing growth in the non-gold business only from the third quarter. Vehicle finance and home loan sector has not picked up so far and is still in difficulty,”George Alexander Muthoot, managing director, Muth

We will be back issuing cards by mid-September, huge potential to tap: Shalini Warrier, executive director, Federal Bank

According to research, customers reach out to credit cards when the ticket size is large. Youngsters use debit cards when the ticket size is small. That is a reason why we went for credit cards. This is true for even e-commer

Shalini Warrier, executive director, Federal Bank

RBI’s current accounts circular faces scrutiny in Kerala HC

The circular mandated each bank to close current accounts of borrowers to whom the bank’s exposure was less than 10% of its total borrowings. The deadline for complying with the circular, which was aimed at preventing fraud

Earlier, in interim orders dated July 26 and July 27, the Kerala HC had said status quo must be maintained on the current accounts held by GEO VPL Finance and Muthoot Fincorp, respectively.

Jewellery retailers upbeat as sales improve

Kalyan Jewellers has reported that its overall revenue achievement in India for the quarter ended June 30, 2021 was around 55% of Q1FY20, while it was around 190% when compared to Q1FY21.

Alcoholic beverage industry needs strong regulator for healthy and sustainable growth: Siddharth Banerji, MD of Kyndal Group

“We are a very young country with rampant alcohol abuse. The alcobev industry in India is huge around growing. It is extremely important that we have a regulator as every state excise department keeps experimenting with rou

Banerji feels that the Indian alcobev industry is very similar to the US market with alcohol being a state subject. US introduced regulation after prohibition was lifted.

Multiple platforms: Small-budget Malayalam films spread their wings

It may be too early to surmise if this model will get a broader acceptance nationally but there are definitely some indications that the trend of having a multiple OTT release is gaining ground.

Jacob said that non-exclusive streaming on multiple platforms on a revenue sharing model also helps very small or independent films find their audience, as getting theatrical release is next to impossible without stars and big names.

Radico Khaitan to focus on premium brown spirits in FY22

Radico, the makers of 8PM Whisky, Magic Moments Vodka, Contessa XXX Rum and Old Admiral Brandy, plans to launch more brands in the premium brown spirits space during FY22 across categories.

Radico, the makers of 8PM Whisky, Magic Moments Vodka, Contessa XXX Rum and Old Admiral Brandy, plans to launch more brands in the premium brown spirits space during FY22 across categories.

Interview| Guidance is for 15% growth, will surely achieve it: George Alexander Muthoot

Managing director George Alexander Muthoot talks to FE’s Rajesh Ravi about the gold loan business and other plans. The Kerala-based company reported a 22.49 % year-on-year increase in its Q4 consolidated net profit to Rs 1,

George Alexander Muthoot

Trial run: Malyalam films to get exclusive 3-week window in theatres

The proposal has the backing of the Film Exhibitors’ United Organisation of Kerala (FEUOK), which has 350 screens in the state from a total of 650.

Atul Mohan, editor at Complete Cinema, said that Malayali Star Mohanlal commands huge popularity in Kerala and his movies have typically captured 80-85% of screen share in the state.

‘Hallmarking will add to business of organised players’

For the complete FY21,Kalyan posted a loss in its consolidated balance sheet amounting to Rs 6.1 crore. Ramesh Kalyanaraman, executive director of Kalyan, talks to Rajesh Ravi about the outlook for the year. Excerpts:

Ramesh Kalyanaraman

INTERVIEW| Recovering lost sales first aim of liquor industry: CIABC director general Vinod Giri

Sales of Indian made foreign liquor (IMFL) declined by 12% year-on-year during FY21 due to the pandemic-induced lockdown and increase in taxes, according to the Confederation of Indian Alcoholic Beverage Companies (CIABC).

Vinod Giri

Gold loans to pick up pace in Q2: Manappuram Finance

VP Nandakumar, MD & CEO of Manappuram Finance, said there could be a slight decline in the gold loan portfolio of the NBFC in the first quarter before demand gathers momentum. The NBFC expects growth to be in the range of 10-

For the whole of FY21, the lender reported a consolidated net profit of Rs 1,724.95 crore as against Rs 1,480.30 crore reported in the year-ago period

ESAF Small Finance Bank expects normalcy in business from July, may list as early as September

“Already Maharashtra is showing good promise and collections are good at 75%. In Tamil Nadu too, the collections were at 65% when the new lockdown was imposed.

We plan to increase loan book by Rs 10,000 crore in FY22: Murali Ramakrishnan, MD & CEO, South Indian Bank

The decline has happened due to two things. As a strategy, we wanted to reduce the concentration risk in corporate book. Wherever we have taken very high exposure, we were reducing it.

We thought we could restructure Rs 1,200 crore, but we could only restructure Rs 351 crore. Yes, our provisions were lower for the fourth quarter.

We will have more opportunities when economy is opened up: CVR Rajendran, MD & CEO, CSB Bank

Gold loan will continue to be focus area for some more years. We are still a marginal player and my outlets are increasing.

CVR Rajendran, MD & CEO, CSB Bank

“We might see a further drop of 10 % in exports from the performance of FY21”

The seafood exports have dropped 20% in both volume and value terms in the last fiscal. The impact is more in the sea-caught sector.

Jagdish Fofandi, national president of the Seafood Exporters Association of India (SEAI)

We’ve seen a growth of approximately 20% across the luxury malts division for last 3 years: Thrivikram Nikam, joint MD, Amrut Distilleries

Since takeaways were encouraged by the government and Amrut is a consumer favourite, people started collecting a broad range of our brands, given future uncertainty, says Thrivikram Nikam.

Thrivikram Nikam, joint managing director, Amrut Distilleries

Interview | Federal Bank’s credit card should be launched soon: Nilufer Mullanfiroze

Earlier online transactions, using mobile banking, net banking, were ‘nice to do’ activities from a customer perspective.

The pandemic has necessitated being digital, from a consumer side rather than the traditional walk-in model.

ESAF SFB likely to file fresh DRHP for its IPO

ESAF Small Finance Bank is likely to file a fresh draft red herring prospectus (DRHP) for its initial public offering (IPO) with the market regulator Sebi.

K Paul Thomas

CSB Bank to focus on growing balance sheet

“Most of the secured business has come back. There has been a more responsible credit behaviour on the part of customers. Generally speaking, while there is some stress in the banking ecosystem, it is much less than what wa

The Thrissur-based lender’s gross advances rose 22.64% YoY to Rs 13,425.24 crore in Q3 while total deposits increased 16.48% to Rs 17,752.97 crore.

Manappuram Finance gold loan portfolio may de-grow in Q4

According to him, the demand for gold loans is stable at around 10-15% despite stiff competition from banks. He said banks are likely to come under pressure on gold loans with higher loan-to-value (LTV) becoming a problem whe

Manappuram’s weighted average LTV stands at Rs 2,963 per gram or 63% of the current gold price.
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