Rajesh Ravi

Articles By Rajesh Ravi

328 Articles

Gold loans account for 35% of our loan book and can go up to 45%: CVR Rajendran, Managing Director & Chief Executive, CSB Bank

Our yield on advances has gone up substantially and yield on the treasury has also gone up by 40 bps, whereas the cost of the deposit has come down by 30 bps and the Net Interest Margin (NIM) has increased for the quarter.

CVR Rajendran, managing director & chief executive, CSB Bank,

India’s natural rubber production in 2020 scaled down by 42,000 tonne: ANRPC

RB Premadasa, secretary-general of ANRPC, said in the report that NR prices further improved in September at varying degrees across different grades and different physical markets.

RB Premadasa, secretary-general of ANRPC, said in the report that NR prices further improved in September at varying degrees across different grades and different physical markets.

Will exceed guidance of 15% growth in FY21: Muthoot Finance

Regarding the new policy on on-tap targeted long-term repo operations (TLTRO), Muthoot said the cost of borrowing could come down for the NBFCs and benefits could be passed down to customers in the form of lower interest rate

Muthoot Finance managing director George Alexander Muthoot told FE that business had achieved the pre-Covid level.

Expecting 23% growth in gold loan business: Thomas John Muthoot, managing director, Muthoot Fincorp

The gold loan business witnessed a demand after Covid in comparison to the pre-Covid period. Non-availability of unsecured loans during the moratorium led more customers to shift to gold loans.

Also it is seen that more than 65% customers take gold loans for their micro and small businesses.

Indian shrimp exports to US increase 6.6 % to 31,676 tonne in August

During the initial days of the lockdown, the seafood sector was working at about 20-25% capacity with most of the laboratories closed.

US, the largest market, is followed by China with 1, 45,710 tonne.

Cochin Shipyard Ltd increases workforce to ramp up operations

The shipbuilder had reported a net profit of Rs 632.01 crore in the year ended March from a revenue of Rs 3,422.49 crore.

Cashew nut prices on revival path

“Cashew industry went through an upheaval not seen in a long time. In less than a month, raw cashew prices came down about 30% and kernel prices came down about 20%.The third quarter has seen things becoming stable but no

Vietnam W320 which had gone down to $2.50-2.70 by June-July has recovered to $2.85-3.05 with reasonable demand at current levels.

Dhanlaxmi Bank CEO Sunil Gurbaxani resigns

Gopinathan, who is a shareholder of the bank along with NRIs B Ravindran Pillai and MA Yusuf Ali, told FE that Gurbaxani was trying to change the nature of the bank and harm the interests of the shareholders.

The interim arrangement will not continue beyond four months within which the bank will complete the process of identification and appointment of a new MD & CEO.

Shareholders of Dhanlaxmi Bank vote against MD and CEO

Sources said shareholders were concerned the ‘identity’ of the bank was being diluted and were seeking a change in the top management.

Three of Dhanlaxmi’s board members had quit in June 2020, including Sajeev Krishnan, part-time chairman and independent director, who cited personal reasons for stepping down.

South Indian Bank expects slippages to keep under control despite Covid-19 pandemic

The Kerala-based lender does not see any headroom for growth in the current situation and expects total business to be flat compared to last year, or in the best-case situation to grow around 3-4%.

SIB expects that collection will be good and increase in the coming quarters.

Indian cardamom output to fall due to floods, dry spell: DASD

Indian cardamom production is likely to fall short in the current season due to the unprecedented floods and subsequent prolonged dry spell experienced in major growing regions in the country, according to the data compiled b

Demand for natural rubber may revive in Q3 of 2020

The inter-governmental organisation of 13 rubber producing countries in its latest report said the global demand for NR is likely to fall by 2.9 % in Q3 of 2020, after it fell 15% in Q1 because of China and 15.8% in Q2 due to

natural rubber, global demand for rubber, ANRPC, global economic recovery, coronavirus, latest news on natural rubber

With loan repayment at 80-85%, ESAF Small Finance Bank expects few defaults as moratorium ends

Thomas added that business was back to normal in the rural areas with the rural customers in farming and animal husbandry showing more resilience.

MD and CEO K Paul Thomas said the call on the IPO will be taken after September following a review of the business and macro-environment

Nimo Planet: Get productive with this India-made wearable

The smart glass has 64GB ROM, Wi-Fi, Bluetooth and 6DOF head tracking. It runs on Planet OS, a unique and simple operating system developed by the team using Android Open Source Projects, which is highly optimised for low pow

Manappuram Finance sees gold loan portfolio growing by 10-15% in FY21

The Kerala-based lender, which also operates a home loan, microfinance and commercial vehicle leasing subsidiary, has some arrears in the non-gold loan business due to restructuring.

India’s seafood exports hit by demand slump in US, China

Regarding the key market of the US, Fofandi says that while it is seen subdued currently, there are some positive signs. Supermarket sales, which give better margins, have picked up in comparison to institutional sales, he sa

While official data of exports of marine products so far in the current fiscal are not immediately available, the decline during the period is seen to have been sharper than anticipated for the full year.

Inland waterways: Charting a new course for water transport

Having been adjudged the world's best electric boat in its category, a solar-powered ferry has boosted prospects for cheap green services in Kerala and elsewhere.

Kalyan Jewellers now close to same store performance year-on-year: CMD

Rajesh Ravi of FE talks to CMD TS Kalyanaraman on the issues related to pandemic and future plans of the company. Excerpts:

Kalyan Jewellers, TS Kalyanaraman, Warburg Pincus, jewellery sales,coronavirus pandmeic, Gold prices, gold online sales, latest news on Kalyan Jewellers

TS Kalyanaraman, CMD, Kalyan Jewellers on post-Covid sales: ‘We are now close to same-store performance Y-o-Y’

The market is stabilizing and pre-book orders which we have received for redemption in the upcoming festive season also indicate that the revenue is going to be almost at par with the previous year.

Sales have picked up and we are almost close to the same-store performance of this time last year.

Export markets open up for rubber component makers as global manufacturers looking at suppliers outside China

VT Chandrasekharan, president of AIRIA, told FE that India has tremendous potential to grow and could become a hub for sourcing rubber components and products if the inverted duty structure in the rubber sector is corrected.

The import duty on raw materials in India is higher than competitors in the rubber products segment.

China’s foray into spices extraction is giving sleepless nights to Indian suppliers

Two Indian Companies considered the opportunity and set up plants in Xinjiang and Suzhou Province, but were forced to close down the plant after a few years due to the deliberate restrictive policies by China.

Nallamothu added that the China uses the Indian operations to export semi-processed or processed products to their country by under-invoicing and paying less tax.

Domestic demand for gold jewellery falls 74% in Q2 of 2020: WGC

The market development organization for the gold industry said H1 demand for jewellery was down 60% to an all-time low of 117.8 tonne.

India is the second-largest consumer of gold in the world after China.

Big gold jewellery retailers say demand almost normal now after COVID-19 gloom

India is the second-largest consumer of gold in the world after China, and the demand for gold in India sharply declined in June due to various reasons, including Covid.

gold demand, jewellery demand, world gold council,

Witnessing 400% m-o-m jump in registrations and turnovers in 3 months: AgriBazaar

AgriBazaar aims to reach one crore (100,00,000) farmers in the next 36 months.

Covid effect: Indian liquor sales likely to decline 35-40% this year

Globally too, consumption of liquor and spirits will see an overall decline of 15% due to the restrictions on on-premise consumption.

Will achieve the earlier guidance of 15% growth this fiscal: Muthoot Finance

The lender has also introduced a new product called ‘Gold UNLOCKER’ which will help customers unlock the value of their idle gold lying in bank lockers or home safes through an overdraft facility for their gold jewellery.

During the last quarter of FY20 gold loan portfolio of the NBFC increased by Rs 3,113 crores to Rs 41,611 crore.

Real impact on CSB Bank’s asset quality will be known when moratorium period’s over, says MD C V R Rajendran

“Gold loan is one sector, which is showing growth but there is good competition. Two-wheeler loans are seen growing with people preferring own vehicles to public transport. We are also looking at used car loans,” he added

Rajendran pointed out that the real impact of the pandemic on the asset quality of the bank would only be known when the moratorium period was over.
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