Details of Chartered Accountant Exam results announced by ICAI

The top three rank holders on all India basis of Chartered Accountants Final Examinations held in May, 2015 are from Delhi and Secunderabad, Machilipatnam (Andhra Pradesh) & Mumbai respectively, said the Institute of Chartered Accountants of India (ICAI). ICAI announced the results of Chartered Accountants Final Examination held in May, 2015 and that of the […]

Bangalore tops start-up funding; Average valuation rises to 9 cr

Bangalore has overtaken Mumbai as the home to the biggest start-up investment scene, attracting about 30% of angel funding in India, said a report on ‘Angel Investing’ brought out by InnoVen Capital India and Association of Indian Angel Groups (AIAG). India Angel Report 2015 also found that the median angel funding round grew to Rs […]

SBI, bankbazaar.com tie-up for home loan origination

State Bank of India (SBI), the largest bank in India, has entered into a Tripartite memorandum of understandingn with bankbazaar.com and SBI CAP Securities Ltd to provide one more online platform for applying for SBI Home Loans. “This partnership will help the Bank Under this arrangement, the Bank will be able to display its Home […]

Fitch: Investors wary of contagion via Brazil compared to any other EM

European credit investors see more possibility of contagion from emerging market risks via Brazil than other major emerging markets (EMs), according to Fitch Ratings’ latest senior investor survey. Seventy-six percent of respondents to the survey, which closed on 2 July, selected Brazil when asked to choose two countries from a list of five where they […]

Axis Bank app gets support for fingerprint authentication

Axis Bank, India’s third largest private sector bank, has added touch authentication for transactions through its mobile app for its iOS app. The feature will not be available in the Android version of the app. Bank customers using Apple iPhone 5s and above can now complete their financial transactions such as bill payments, mobile recharge […]

Moody’s: Indian base metal industry to benefit from rising demand

Moody’s Investors Service said that India’s base metals industry — aluminium, copper, and zinc — will benefit from increased demand, easing restrictions on raw material availability, and relatively low production costs. “We expect India’s consumption of base metals to increase by 8%-10% annually over the next three years, driven primarily by demand from three sectors: […]

Supreme Court stays CERC order on transfer of FTIL shares in IEX

Financial Technologies said that the Supreme Court has stayed an earlier order by the Central Electricity Regulatory Commission directing Indian Energy Exchange to transfer its shares in the exchange to a trust. The CERC issued the order on June 26, 2015, directing FTIL (Financial Technologies) to transfer its entire shareholding in the Trust Demat Account […]

SBI to offer rewards to all customers under SBI Rewardz program

State Bank of India has launched an enterprise-wide loyalty programme – State Bank Rewardz through which it will reward its customers for various types of banking transactions with the Bank. Customers will be enrolled automatically into this programme as soon as they start using at least one of services that offer points. Customers will be […]

Axis Bank to offer higher interest for locked in fixed deposits

Axis Bank, India’s third largest private sector bank has launched a Fixed Deposit scheme titled “Fixed Deposit Plus”, which gives customers a higher rate of return on their fixed deposit investment compared to regular Fixed Deposit rates. The differential rates on Fixed Deposit Plus with a lock in are currently available for a minimum period […]

SBI, MakeMyTrip to tap cross-selling opportunities

State Bank of India and MakeMyTrip.com signed an agreement today which will see the travel portal make use of India’s biggest bank’s infrastructure to meet its finance and banking related requirements related to its online travel portal. “SBI aims at becoming a “One Stop” solution provider for the entire range of financial needs of e-Commerce […]

Modi Govt lends $268.35 mln to Tanzania for pipeline project

India has extended additional Line of Credit (LOC) to the Government of the United Republic of Tanzania, of USD 268.35 million for financing the extension of Lake Victoria pipeline to Tabora, Igunga and Nzega in Tanzania. The loan has been routed through Export-Import Bank of India (Exim Bank). The line of credit agreement was signed […]