US-based private equity firm TPG is stated to be in talks with the gold loan company Manappuram Finance for buying a minority stake. Manappuram promoter VP Nandakumar along with Sushama Nandakumar hold 31.55 per cent stake in the company.
Category: Infrastructure Finance
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Suggestions invited on financial inclusion
Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households, set up by the Reserve Bank of India (RBI), on October 4 said that it has invited suggestion from stakeholders on development of financial services delivery model.
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Maha to decide soon on Rupee-Saraswat merger
The Maharashtra government would decide within eight days on merger of the Rupee Co-operative Bank with the Saraswat Bank, said the State Co-operation Minister Harshvardhan Patil.
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Govt keen to set up urban transport authority
The Union government has intensified efforts to set up Urban Metropolitan Transport Authority (UMTA) and Urban Transport Fund (UTF) for a planned and coordinated implementation of urban transport projects
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State Bank of Mysore to open 101 branches
Subsidiary of State-owned SBI, State Bank of Mysore (SBM) will open 101 branches in the country on October 5 to commemorate its centenary celebrations this year. It will open seven new branches in Dakshina Kannada and Udupi districts of Karnataka on October 5.
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Express loan scheme from DHFL from Oct 5-Nov 5
An 'Express Loan' scheme has been announced by Dewan Housing Finance Corporation (DHFL) to customers to buy their dream home during this Dasara/Diwali auspicious festive period, starting October 5.
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Infra trust fund on its way
Under the finance ministry's new announcement, the revenues of a project will be transferred to the trust, which will then issue units to investors. Shilpi Aggarwal says the government is seeking innovative financing solutions for infrastructure.
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IIFCL to get $700 mn ADB infra loan
To fund India's infrastructural projects, the Manila-based Asian Development Bank (ADB) will give $ 700 million to the India Infrastructure Finance Company IIFCL) in the next one-and-a-half years. Of the $700 billion, $400 billion would be given to IIFCL by early 2014 and the remaining by early 2015.
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AP Grameena Bank opens 27 lakh accounts
Through its business correspondents (BCs), under the branchless banking model, the Andhra Pradesh Grameena Vikas bank (APGVB) hasopened 27 lakh basic savings bank deposit accounts till now.
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Govt to take Rs 20,000 cr WMA loan from RBI
To meet unexpected expenditure of the Union government, the Reserve Bank of India (RBI) would provide Rs 20,000 crore through its Ways and Means Advances (WMA) window in the second half of the current fiscal, RBI said on September 30.