Expen corporate finance

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on Housing Development Finance Corporation With its theme of ‘actionable intelligence’ in its annual report, HDFC has been adapting to newer and faster ways of communicating with stakeholders through digital interface, changing with the landscape to remain competitive and be future-ready. Currently, the company receives 91% of home applications through digital channels. The management believes that India’s housing loan market would double to ~$600 billion in the next five years with estimated mortgage penetration of 13% of GDP which would still be lower as compared to emerging economies. It believes that the optimum path to scale up housing finance is to be housed within a banking structure. The resources pool for lending will be significantly larger and at lower … [Read more...] about Buy Housing Development Finance Corporation; target of Rs 3025: Sharekhan

KUALA LUMPUR: Transition finance or labelled bonds and loans are expected to gain traction in the coming years amid a growing number of companies pledging to reach sustainable goals, Maybank Investment Bank said. Maybank Investment Bank chief executive officer Datuk Fad’l Mohamed said transition finance is a relatively new addition to the suite of sustainable finance instruments to help companies deliver long-term strategies to achieve their net-zero carbon commitments. He said the potential investments that fell under transition bonds as opposed to green bonds are a lot larger as the former includes industries that are not readily green but are taking steps to decarbonise. "So, in this instance, for example, ship company Seaspan Corporation has raised about US$750 million (US$1=RM4.39) in transition bond this year and the proceed were channelled towards exploring energy efficiency of its vessels with alternative fuels,” he said at the Sustainable and Responsible Investment (SRI) … [Read more...] about Maybank IB expects transition finance to gain traction in Malaysia

Rajnish Kumar’s three-year term as State Bank of India (SBI) Chairman was a roller-coaster ride from Day 1. A pandemic, a private bank bailout and a deep economic slowdown – all happened during his term. Kumar played a key role in bailing out Yes Bank. During his tenure, SBI has substantially cut down the chunk of toxic assets and successfully completed the amalgamation process of its associates. In an exclusive interview with Moneycontrol, Kumar opened up about the challenges he faced. Edited excerpts: How tough was your three years as SBI Chairman? Kumar : There were many challenges in the last three years. When I took charge, the merger process (with associates) was on, and then AQR (asset quality review) happened. There was significant stress on the books. And, of course, IBC (insolvency and bankruptcy code) also happened during that period. Having said that, I feel one can get tested only when there are challenges. If you are only doing your routine job, there is … [Read more...] about EXCLUSIVE: SBI needs to be watchful about corporate NPAs, COVID-19 impact, says Rajnish Kumar

Share to Twitter Share to Linkedin Today, Rep. Troy A. Carter, Sr., a Democrat from Louisiana, and Rep. Guy Reschenthaler, a Republican from Pennsylvania, introduced a new bill called The Capital Lending and Investment for Marijuana Businesses (CLIMB) Act. If passed and signed into law, The CLIMB Act could give a significant boost to a cannabis industry that is currently struggling with growing pains, a lack of access to capital, difficulty in obtaining banking and other standard business services, high taxes, and a consumer base feeling the sting of inflation and the potential for a looming recession. While The CLIMB Act will not resolve all the issues facing the cannabis industry, if passed, along with other pending legislation like the currently pending SAFE Banking Act ( which addresses banking services to the cannabis industry ), it could prove a welcome gust of wind into the sails of legal cannabis businesses. The CLIMB Act was expressly … [Read more...] about The CLIMB Act Seeks To Boost Cannabis Industry Financing And Capital Access

Joydeep Sen The common refrain of debt fund investors is that returns nowadays are muted and lower than expectations. In some instances like liquid funds, returns are lower than bank term deposits. However, something positive is brewing in the background. And no, we are not going to give you high hopes about next year, that returns will improve significantly. We are talking of something structural, about the framework for debt funds. Let’s go back in time, three years or so. The atmosphere was about defaults by certain issuers. It started with IL&FS in September 2018, and one by one, many others broke. DHFL, ADAG group entities, and quite a few others. Even a bank; additional tier 1 perpetual bonds of Yes Bank were written off by the Reserve Bank of India (RBI) in March 2020. In the same month, at the start of the pandemic, there was significant redemption by foreign portfolio investors in debt, putting pressure on the system when liquidity was tight. Due to these systemic … [Read more...] about Good times ahead for debt funds, though returns are muted

- A + A KUALA LUMPUR (June 22): CIMB Group Holdings Bhd on Wednesday announced the appointment of Chu Kok Wei and Novan Amirudin as co-chief executive officers (co-CEOs) of its group wholesale banking business effective July 18. The appointments by CIMB confirm a report by theedgemarkets.com last month that the banking group is looking to split the CEO job at its group wholesale banking segment. This would result in co-CEO positions to separately oversee the treasury and markets segment as well as the corporate and investment banking segment, multiple sources familiar with the matter had said. Prior to this, the head of wholesale banking position had been left vacant at CIMB after Omar Siddiq resigned from the post in January to take on the position of HSBC Bank Malaysia CEO. In Wednesday’s statement, CIMB said Chu and Novan will head specific business pillars within wholesale banking but will be jointly responsible for the overall wholesale banking … [Read more...] about CIMB appoints Chu Kok Wei, Novan Amirudin as co-CEOs of group wholesale banking business

The Reserve Bank of India (RBI) on June 23 appointed Venkat Nageswar Chalasani as a member of the Advisory Committee of debt-laden Srei Infrastructure Finance and Srei Equipment Finance , following the resignation of R Subramaniakumar. Chalasani, whose appointment is tendered with immediate effect, was the former Deputy Managing Director of State Bank of India, the banking regulator said in a release. Along with Chalasani, the Advisory Committee comprises T.T. Srinivasaraghavan, the former Managing Director of Sundaram Finance, and Farokh Subedar, the former Chief Operating Officer and Company Secretary of Tata Sons. The advisory committee shall advise the administrator on the operations of Srei Infra and Srei Equipment Finance during the corporate insolvency resolution process, the RBI said. Also read: SREI Equipment Finance says auditor found fraudulent transactions worth Rs 3,000 crore during FY20-21 Close The RBI had on October 4 superseded … [Read more...] about RBI appoints Venkat Nageswar Chalasani in Advisory Committee of Srei Group recast

The CBI has registered a fresh case against Kapil Wadhawan and Dheeraj Wadhawan of DHFL for allegedly cheating a consortium of 17 banks led by the Union Bank of India to the tune of Rs 34,615 crore, making it the biggest banking fraud probed by the agency, officials said. The CBI is carrying out searches at 12 locations in Mumbai at the premises of accused in the case, they said. The agency booked the Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan, the then CMD, Dheeraj Wadhawan, the director and six realtor companies for allegedly being part of criminal conspiracy to cheating the consortium led by the Union Bank of India to the tune of Rs 34,615 crore, the officials said. The agency has acted on a complaint from the bank on February 11, 2022, they said. Wadhawans are already under CBI probe in connection with alleged corruption involving Yes Bank founder Rana Kapoor. … [Read more...] about CBI books DHFL, its former CMD and director in Rs 34,615-crore bank fraud case

Share to Twitter Share to Linkedin The drumbeats of economic blame have been pounding away. Inflation. Inflation. Inflation. Some, like Lawrence Summers, have been saying this for many years. Too much money in the system that would in theory boost activity and eventually drive prices up. Or, as an economist, who will remain anonymous, once said jokingly about a big name in his field and predictions of recessions, “Paul Krugman made a career of saying, ‘We're going to have a recession this year” for 15 years. When one finally happened, he said, ‘See? I told you.’ And he got the Nobel Prize.” Oh, Nobel Committee, Summers is waiting for that telephone call. Ironically, as someone who’s frequently been wrong and loath to admit it , as Michael Hirsch wrote about Summers some time back in The Atlantic, there’s a strong argument that he helped propel the reckless global capital flows and fight off regulation that would result in the Great Recession, the … [Read more...] about Inflation Blame Game Targets Consumers And Workers

Share to Twitter Share to Linkedin If you're currently enrolled in college, planning to start college this fall, or you are approaching college age, you're right to worry about the future of student loans. After all, college costs keep going up every year, and all the proposed "fixes" seem to deal with having debt forgiven instead of dealing with the source of the problem. The government is busy coming up with more solutions to the college debt crisis. In fact, the Biden administration seems to be mulling over a forgiveness plan that would erase up to $10,000 in federal student loan debt per borrower. The thing is, those who are struggling to pay student loans the most tend to have a lot more than $10,000 in student debt to begin with. Not only that, but forgiveness is only expected to apply to federal student loans (and not private student loans ), and income caps will limit who can qualify. With all this in mind, wouldn't it be great to pay for college … [Read more...] about How To Pay For College Without Student Loans