HOME > BUSINESS > FINANCE

Reliance Capital receives Rs 378 cr from Nippon Life for AMC stake

Anil Ambani Group's Reliance Capital said it received Rs. 378 crore from Nippon Life Insurance, one of the largest life insurers in the world, after the foreign company increased its stake in Reliance Nippon Life Asset Management Limited to 49%.The original agreement to increase the stake from 26% to 49%

Read More

Demonetization took India forward by 3 years – SBI

The demonetization of currency notes late last year has doubled the number of card transactions and helped push India's payment digitisation by three years, State Bank of India said in a note."Even after seven months post demonetization, the transaction value is quite large and approximately double of what it

Read More

Mahindra Finance to raise Rs 2,000 cr via debentures

Non-banking financial services company Mahindra & Mahindra Financial Services said it plans to raise Rs 2,000 cr by issuing debt instruments to the public.The non-convertible debenture issue will open on July 10.The NCDs carry a rating of IND AAA from India Ratings and BWR AAA from Brickwork Ratings.The instruments will

Read More

RCom says telcos facing cash flow issues due to ‘go slow’ approach by banks

Telecom operator Reliance Communications said companies in the sector are facing cash flow issues due to what it called a 'go slow' approach taken by banks in disbursing loans.In an update on its 'standstill agreement' with its lenders, which provides it a window of seven months to complete a merger

Read More

Axis Bank confirms exiting POS maker Mswipe

Axis Bank confirmed it had sold its 8% share in new-generation card-swiping-machine company Mswipe Technologies.In a regulatory filing, the private sector bank said it sold its 8% stake for Rs 80.94 cr, or Rs 4,249 per share.Mswipe is one of the new generation, low-cost swipe-machine companies, and offers cheaper

Read More

Are ‘truly free’ demat and trading accounts here in India with Finvasia?

Finvasia, a technology-driven online broking start-up, announced that it has rolled out what it claimed was India's first 'truly' free online demat account for investing in stocks and derivatives, including futures.There have been many 'free demat account' providers in the past too, but such operators usually find some way

Read More

Glaucus questions stock price of Hong Kong-listed Fullshare Holdings Ltd

Glaucus Research Group, a California-based short seller, said it was selling Hong Kong-listed developer Fullshare Holdings due to peculiar trading patterns seen in the stock's counter."Fullshare is supposedly a commercial and residential property developer, but this business is tiny compared to its market capitalization. In FY 2016, Fullshare generated a

Read More

SpiceJet chooses HSBC as its UPI partner

SpiceJet has chosen HSBC Bank as its partner for receiving UPI payments on its website.UPI or Unified Payments Interface is an advanced, easy-to-use, cheap and real-time payment platform designed by the National Payments Corporation of India.Unlike more expensive payment options such as Visa and Mastercard, UPI is available to most

Read More