Tag Archive for finance

Ujjivan Small Finance Bank launches Aadhaar enrolment and updation service at designated branches in Bangalore

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Ujjivan Small Finance Bank (SFB) introduces Aadhaar enrolment and updation service in selected branches in Bangalore to provide yet another convenient facility to its customers. It is the only bank in the SFB category to provide such a service in the country. In phase-I, Ujjivan SFB has enabled the facility in five branches – HSR Layout, Chandra Layout, Whitefield, Koramangala and Uttarahalli. This facility will soon be available in all Ujjivan SFB branches across India and can be availed by everyone including non-Ujjivan Bank customers.

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XLRI Hosted its Annual Finance Symposium – GNOSIS 2018 in Mumbai

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

The Finance Association of XLRI (FINAX) recently hosted the 9th Edition of GNOSIS 2018 – XLRI’s Annual Finance Symposium on November 17th in Mumbai. The symposium saw Dr. Rajeev Lall – Founder & CEO, IDFC Bank deliver the Key Note Address on ‘Banking and financial services in India: The expanding horizon’. He gave a rousing speech on how banks and other financial institutions can maintain a balance between social responsibility and commercial viability, by addressing all stakeholder needs.

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UJJIVAN SMALL FINANCE BANK LAUNCHES PERSONAL LOAN FOR SALARIED PROFESSIONALS

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Ujjivan Small Finance Bank, a wholly owned subsidiary of Ujjivan Financial Services Limited, announced the launch of personal loan facility for salaried professionals making it the first small finance bank in India to offer this. The product will be launched across 14 Tier 1 & Tier 2 locations including Ahmedabad, Bangalore, Delhi, Kolkata, Pune, Surat, Mumbai, Mysore, Ankaleshwar, Coimbatore, Kochi, Chennai and Vadodara. The facility is a new product to the existing loans offered by the bank namely, Home Loan (for purchase of property & construction) and Business loans.

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Manappuram Finance Limited NCD Tranche 1 Issue to open on October 24, 2018

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

(L-R): Mr. Harit Oberoi, (A. K. Capital Services Limited) with the management of Manappuram Finance Limited - Mr. B.N. Raveendra Babu (Executive Director), Mr. V.P. Nandakumar (MD & CEO), Ms. Bindhu A.L. (EVP – Finance & Accounts) and Mr. Denzil Fernandes (Edelweiss Financial Services Limited) at the announcement of the Manappuram Finance Limited public issue of Secured Redeemable Non-Convertible Debentures (NCDs).

Manappuram Finance Limited (the “Company”) is one of the major NBFC players in the gold finance business in India. (Source: CRISIL Report) They provide loans against the pledge of household and/or used gold jewellery and provide short-term personal and business gold loans (“Gold Loans”) primarily to retail customers.

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Aditya Birla Finance receives Rs. 1,000 Crore, 7-year ‘green’ loan from IFC

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

IFC, a member of the World Bank Group, has extended a 7-year longterm loan of Rs. 1,000 crore to Aditya Birla Finance Ltd. (ABFL), the NBFC arm of Aditya Birla Capital Limited (ABC). ABFL is a well-diversified non-banking finance company (NBFC) with a long term credit rating of AAA from both ICRA as well as India Ratings. ABFL will use the proceeds to finance renewable energy projects and help the country move towards its target of 175 GW of renewable energy capacity by 2022.

The IFC green loan, sanctioned in March 2018, is an Indian rupee loan under Track III of the Reserve Bank of India’s guidelines for external commercial borrowings.

India’s power sector is one of the largest in the world, but the country’s per capita consumption of electricity is less than a fourth of the global average. The government wants to provide electricity 24×7 to the entire country by 2019, while minimizing the impact on the environment. For that, it plans to increase the renewable energy capacity to 175 GW, comprising solar, wind, biomass, and small hydro, by 2022.

“We are delighted to partner with IFC, with which we have a very good relationship. This is not just about a loan but also about being able to access the expertise that IFC has in this area and together making a small difference to the energy requirements of our country,” said Mr. Ajay Srinivasan, Chief Executive of Aditya Birla Capital. Read more

Indian Financial Sector Bats for Presence-Less Finance at BankBazaar’s Conclave

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By  Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

For the third consecutive year, BankBazaar brought together government and regulatory luminaries, eminent bankers, and Fintech influencers together on one single stage at the BankBazaar Paperless Finance Conclave to give a shot in the arm to presence-less, paperless finance. The highlight of the Conclave was a government perspective on changing norms in the financial sector, touched upon by Keynote speaker Mr. S. S. Mundra, Former Deputy Governor, RBI, and special speaker Mr. Amitabh Kant, CEO, NITI Aayog, in their talks. The focus was on the need for consensus between Fintechs, banks, insurers, regulators, and the government for a more paperless, presence-less approach to personal finance at the Conclave in Mumbai on 11 September, which was attended by more than 200 eminent players from the Indian financial sector. Read more

Aadhar Housing Finance Limited NCD Issue to open on September 14, 2018

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

(L-R): Mr. Sushil Budhia (Yes Bank Limited); Mr. Denzil Fernandes (Edelweiss Financial Services Limited); Mr. Rishi Anand (Chief Business Officer, Aadhar Housing Financial Limited); Mr. Deo Shankar Tripathi (Managing Director and Chief Executive Officer, Aadhar Housing Financial Limited); Mr. Anmol Gupta, Chief Financial Officer, Aadhar Housing Financial Limited); Ms. Hani Jalan (Trust Investment Advisors Pvt. Limited); Mr. Ahmed Masalawala (Axis Bank Limited) at the announcement of the Aadhar Housing Finance Limited public issue of Secured Redeemable Non-Convertible Debentures (NCDs).

Aadhar Housing Finance Limited (the “Company”), a deposit taking housing finance company registered with the NHB and focused on providing affordable housing financing products for the EWS and LIG segment in India, in tier 2 to tier 4 cities and towns, proposes to open public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of face value of Rs. 1,000 on September 14, 2018, 1,40,00,000 for an amount of Rs. 50,000 lakhs (“Base Issue Size”) with an option to retain oversubscription up to Rs. 90,000 lakhs aggregating up to Rs. 1,40,000 lakhs (“Tranche 1 Issue Limit”) (“Tranche 1 Issue”). Read more

Muthoot Finance announces zero interest and easy EMI loan for the purchase of white goods

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Muthoot Finance, India’s largest gold financing company today announces a zero interest and easy EMI loan to the flood affected people of Kerala for buying the white goods. The company to also support the flood relief initiatives announces waiving of services charges for transmitting the funds to ‘Chief Minister Relief Fund’.

The recent disaster in Kerala has affected the regular day to day activities of people. Muthoot Finance thus is in its own way helping the flood victims by providing interest free loan for buying various home appliances such as TV, Fridge, Washing Machine and other house hold items. Read more

Shriram Transport Finance inks MOU with HPCL to offer credit based fuel services to its customers

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Shriram Transport Finance Company Limited Ltd (STFC), inks MOU with Hindustan Petroleum Corporation LTD (HPCL) to offer credit based fuel filling services to its customers on digital platform. Read more

Shriram Transport Finance, first NBFC to launch 24X7 smart branch

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Photo Caption: Mr. Umesh Revankar, MD & CEO, STFC inaugurating 24X7 smart branch

Shriram Transport Finance Company Limited Ltd (STFC), first NBFC to launch smart branch at Azadpur, New Delhi. 24X7 e-branch will facilitate STFC customers with end to end, unique smart solutions. The smart kiosk is available in multilingual facility for all the existing and potential customers. Presently, with 1.71 million strong customer base Pan India, STFC plans to open 100 smart branches in a span of 1 year and targets at least 1 lakh transactions every month.

The large network of branches had been the foundation of business and a trusted channel of choice for customers of STFC. But, the rapidly advancing digital technology options across banking industry are in process of transformation. Hence, the smart branch solutions will assist the customers to directly transact on the platform at their convenience.

 

On the occasion, Mr. Umesh Revankar, MD & CEO, STFC commented, “The smart branch by STFC envisions in filling the gap of providing timely and accessible one stop, 24X7 digital solutions for the customers and the field officials of STFC. We in turn also hope to make a positive contribution towards the national initiative of Digital India by taking smart branch to rural and semi rural market space of our country.” Read more