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Friday, September 30, 2016

Sep 30, 2016 - Utkarsh Micro Finance raises Rs395 crore from domestic investors

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
ok it's Friday, so time for some life gyan, this time from Paul Graham. This is definitely an engineer's take, so very analytical, but very thoughtful too. If you ask yourself what you spend your time on that's bullshit, you probably already know the answer. Unnecessary meetings, pointless disputes, bureaucracy, posturing, dealing with other people's mistakes, traffic jams, addictive but unrewarding pastimes. There are two ways this kind of thing gets into your life: it's either forced on you or it tricks you. To some extent you have to put up with the bullshit forced on you by circumstances. You need to make money, and making money consists mostly of errands. More here

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Utkarsh Micro Finance raises Rs395 crore from domestic investors

The fundraising allows Utkarsh Micro Finance to reduce its foreign shareholding to below 49%—necessary in the transition to a small finance bank

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Religare Finvest plans to raise Rs650 crore through rights issue

Religare Finvest’s stock sale is a measure to boost capital adequacy ratio following write-off of its estimated Rs180-crore exposure to ABG Shipyard

FTIL sells entire stake in Bourse Africa for $10.5 million

In 2014, Continental Africa Holdings had agreed to buy Bourse Africa for $40.5 million

A nine-year high for IPOs

In April-September, Rs17,283 crore will be raised from equity markets, the highest in nine years, show data from Prime Database, a primary market tracker

India to grow at more than 7 per cent: IMF

India adopted structural reforms to attract more foreign direct investment and passed a legislation to allow a national tax that will create a more integrated economy.

Banks can't publish defaulters' photo randomly: Reserve Bank of India

The Reserve Bank said that it has been observed that some lending institutions have been publishing the photographs of defaulters and guarantors in newspapers.

ING sells 2.5% stake in Kotak Mahindra Bank for Rs 3,653 crore

ING Mauritius Investments sold a total of 4.67 crore shares, representing Kotak Mahindra Bank’s 2.5 per cent stake in an open market transaction

Deferment of capital raise by Yes Bank not to alter growth trajectory: BofA-ML

However, BoA-ML maintains its bullish stance on the future of the Indian bank and believes it will not affect their retail modelling in any way.

Max Life, HDFC Life merger to be completed in next 1 year

Earlier this week, Max India had received shareholders' approval for amalgamation of Max Life Insurance Company with Max Financial Services

RIL may invest in mature start-ups to deploy Rs 5000 crore fund

Early this month when Mukesh Ambani announced Rs 5000 crore proprietary venture capital fund, Reliance Industries (RIL) joined the growing club of conglomerates offering capital to digital start-ups for not only making financial gains but also

Education loans top list of complaints received by Banking Ombudsman

The overall complaints received by the Banking Ombudsman increased to 8,645 during the period 2015-16 from 8,285 registered during same period last year.

AB InBev to pay $6 million to settle India bribery accusations

Aminority-owned JV of AB InBev used third-party sales promoters from 2009 to 2012 to make improper payments to officials in India to boost sales and production

Oriental Bank of Commerce to raise Rs500 crore via bonds

Oriental Bank of Commerce intends to raise Tier 1 capital through private placement of Basel III compliant additional tier 1 bonds of Rs10,00,000 each at par aggregating to Rs500 crore

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Arguably the most promising internet market in the world, India has attracted over $20 billion of global venture capital, primarily from Silicon Valley.

FM Arun Jaitley upbeat on WEF rankings, says India will emerge big player

The finance minister said there is no room for complacency and the government will continue to focus on areas that need improvement.

New RBI governor Urjit Patel facing old interest rate cut battles

Ahead of the 4 October monetary policy review, talks about a rate cut is gaining ground in ministry circles

NSE CEO says technology divide among investors a challenge

NSE CEO Chitra Ramkrishna says it’s a challenge to balance the needs of investors with vastly different technological capabilities

Bank loans are expensive, cos look at bond market: Gaurav Pradhan, Credit Suisse

We expect companies to gradually shift to corporate bond markets, be it domestic or overseas for their funding needs. Masala bonds have done well recently.

In its quest for numero uno status in India's etail war, Flipkart is transforming itself from within

Binny Bansal has infused fresh vigour into Flipkart with moves aimed at making it more efficient, strong enough to stand its ground against Amazon.

Freeze on liquor policy: Kerala government decides not to close liquor outlets

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FMCG firms focus on branded outlets to connect with buyers

Nestle, Amul and CG Corp have decided to focus on the channel

Ekart's kirana strategy to boost Big Billion Days

The logistics arm of Flipkart has tied up with 1,200 local stores to enable last-mile deliveries

Globus to make a comeback with refurbished products

Plans to have smaller stores with different outlets for men and women

Metro Shoes invests in MV Shoe Care

With a strong base of innovation, business acumen and retail intelligence Metro Shoes, India’s leading fashion footwear retailer has made a significant investment in MV Shoe Care - a shoe care and f

Goli Vada Pav: Mainstreaming Vada Pav accross India

Co-founder & CEO, Goli Vada Pav, Venkatesh Iyer, has taken the quintessential Mumbai vada pav to every nook and corner of the country and has made GVP one of the most successful Indian ethnic QSR

India issues notice to Amazon, others for selling imported refurbished phones

Earlier India had rejected Apple's plea for importing refurbished iPhones.

Patanjali urgently needs some yoga moves to clear its choked supply chain

India’s hottest consumer goods company, Patanjali Ayurved, is facing a logistical problem. Buoyed by demand, the Rs5,000-crore ($751 million) company is now experiencing a supply lag at some of its outlets, as lower retail margins and obscure locations make it hard to keep these stores well-stocked. Promoted by yoga guru Ramdev, Patanjali has launched some 400 stock-keeping...

Designer kidswear brand Kids Around to open 4 stores in India

This year, the Indian kidswear market received its first premium multi-brand store with the launch of Kids Around at Ambience Mall, in Delhi’s Vasant Kunj area.A France-based kids store with out

Aditya Birla Retail appoints Mohit Kampani as CEO

Kampani is set to take charge of food and grocery retail business of the $41 billion conglomerate from October 3. 

Burger King plans aggressive global expansion on India innovation

"Its a market where we are just getting started. Quick Service Restaurants (QSRs) are just evolving in India and we are in the market at the right time."

Wholesalers at APMC markets across Maharshtra booked for flouting norms

Hindustan Times
Hindustan TimesAfter initiating a state-wide crackdown last week, officers from the Legal Metrology Organisation (LMO) booked 11 wholesalers from the Agricultural Produce Market Committee's (APMC) market in Vashi, Kalyan and Panvel for violating weights and ...sp;»

Beyond telecom: Sistema looks to invest in 3 start-ups every quarter

Time right to invest in new ventures, says Group CFO Rozanov

No, BlackBerry is not dead. Its new phone is coming soon

Image: APIt's the end of an era. BlackBerry, a name once synonymous with high-end smartphones, will no longer make mobile devices. Along with a dismal financial

Indian telecom operators lack innovation and are anti-competitive: Bhavin Turakhia

Against the response from telcos to a TRAI paper on internet telephony, serial entrepreneur Bhavin Turakhia said that telcos in India are reluctant to drive innovation.

Reliance Jio Call Failures: Telecom Lobby Offers Up Three-Pronged Argument as Penal Action Looms

With TRAI siding with Reliance Jio over the points of interconnect issue, incumbent telecom operators will have to prove they didn't violate terms of their licence agreement.

Nationwide Campaign to Save Internet Telephony Launched

In spite of provisions being there in the laws, India has not seen any internet telephony services being launched by the incumbent operators in the last 8

Big relief for telecom operators ahead of spectrum auction

NEW DELHI: At a time when the entire telecom sector is grappling with huge debt of around Rs 3.8 lakh crore, the department of telecom has decided to provide a ...

Ecommerce companies prepare to beat festive season stress; food, yoga, gaming in offing for staff

Flipkart, Amazon and Snapdeal will unveil a bevy of offers to lure customers as they prepare for the biggest face-off of the year.

Amazon brings on board abof to take on Flipkart's Myntra-Jabong

Abof's induction into Amazon comes ahead of the US-based firm's Great Indian Festival sale that will span five days starting October 1

Ford Names Rajendra Raj Rao as Ford Smart Mobility LLC CEO

Ford Motor Company is announcing today the appointment of Rajendra “Raj” Rao as chief executive officer of Ford Smart Mobility LLC, Ford&r

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