Life Insurance Corporation acquired a 51 percent stake in beleaguered lender IDBI Bank in FY19. As part of the takeover approval, the RBI imposed certain conditions on LIC, most notably that "housing finance activity shall be conducted by only one entity, i.e. either IDBI Bank or LIC Housing; and appropriate reorganisation shall be completed within a period of 5 years". … [Read more...] about Credit Suisse downgrades LIC Housing Finance, cuts target; stock tanks 5%
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The paper quoted Emkay Global as noting that, while asset quality remained weak, NBFCs had made some improvements by diversifying borrowing from banks, international and retail markets, and securitisation markets instead of the traditional capital markets.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year. … [Read more...] about Public sector banks lead in NBFC lending as sector sees higher in-flows in Q3
D-Street Buzz: Over 150 stocks hit 52-week low on BSE; Asian Paints sheds 2%, Tata Steel gains Future Lifestyle share price falls 2% as co to issue shares to IFC, promoter ICICI Securities initiates buy on Piramal Enterprises, bets on consumer finance biz; stock rises 3% … [Read more...] about BPCL gains post Q3 show; board approves divestment in Numaligarh Refinery
"The method of bills or receivables of exporters have to be changed. Our experience has been extremely bad when the associates/subsidiaries are involved, wherein bills are raised and business are directed through associates/subsidiaries," Kumar told a banking conclave organised by the apex exporters body FIEO. … [Read more...] about Raising insurance coverage to 90% to help cut exporters’ cost: SBI chief
In fact, Max Life got the jitters in 2018 again when Axis Bank took a decision to also tie-up with the country’s largest insurer Life Insurance Corporation of India (LIC). Now Axis Bank has a bancassurance partnership with Bajaj Allianz Life as well, apart from LIC and Max Life. This is part of the bank’s strategy to utilise the opportunity to reach the maximum permissible cap of three insurers in life segment. … [Read more...] about Will Max Life Insurance, and Amitabh Chaudhry, be second time lucky?