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Tuesday, September 26, 2017

Sep 26, 2017 - Online lending co Rupeek set to get $12 mn in early stage funding

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
The government's recent announcement of public private partnership policy to promote investment in affordable housing by giving incentives to private developers augers well with its mission to provide Housing for all 2022. The plan - segregated into eight models, entails extending central assistance of up to Rs 2.50 lakh per house to be built by private builders even on private lands. More here

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Online lending co Rupeek set to get $12 mn in early stage funding

The company is expected to be valued at $40-45 million after the transaction, they said, adding that existing backer Sequoia Capital India will be participating in the round

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RBI caps banks' investment limit in deposit-taking NBFCs at 10%

RBI notified that banks investing in such firms must have a minimum regulatory capital.

Oil markets take a breather after jump the day before

US crude for November delivery was down 11 cents at $52.11, having settled up 3.1 per cent after marking a five-month high on Monday.

BIS data shows strong appreciation for rupee

From the beginning of 2016, the rupee has appreciated more than most other currencies

Is India’s macro magic fading?

If India’s macro story starts fraying, investors will start to wonder what it is that justifies the market’s high valuations

RBI revises investment, trading rules for banks

RBI has barred banks from investing in category III alternative investment funds (AIFs), specified norms for their participation in commodity derivatives and tweaked on investing in financial services firms

Yes Bank claims credit card book crosses Rs 250 crore, with 2 lakh users

The new card, which is also the maiden bank tie-up done by Mastercard for its 'World Elite' programme, involves selecting 2,500 millionaires who will be invited to use the offering.

Will banks get 'Amazoned'?

With millennials preferring ease of use, will banks in India be able to stand up to the challenge of being as tech-savvy as their retail banking customers?

Shell companies: Disqualified directors under banks’ scrutiny

Lenders are scanning bank account details of the directors disqualified by the ministry of corporate affairs to analyse their links with shell companies and check whether they diverted funds

Motilal Oswal Private Equity’s realty arm raises Rs 1,000 crore

Along with NCDs and proprietary investments, Motilal Oswal Real Estate's cumulative assets under management are currently over Rs 2,000 crore.

Edelweiss ARC revives Karaikal Port, plans LNG terminal to monetise operations

The decision will push back any stake sale deal being run by the PE (private equity) investors looking to exit their five-year old investment in the company.

Banks Board Bureau asks PSBs to identify senior bank officers who can be groomed for top post

A senior bank executive, who is privy to this information, said the BBB was not satisfied with the current level of expertise among the top executives in PSBs.

Former and current NSE executives opt for consent mode to settle co-location case

Consent orders are similar to an out-of-court settlement in securities law parlance.

India, South Korea discussing ways to upgrade free trade agreement

India wants its English and yoga teachers to get opportunities to provide services in S.Korea

RBI caps bank investments in private equity funds at 10%

This essentially means that banking subsidiaries making investments in private equity above 10% of the capital will need to seek approval from the banking regulator.

SBI lowers minimum balance requirement to Rs3,000, cuts penalties

SBI said pensioners and minors are exempted from the minimum balance requirement for savings accounts

SBI launches chatbot to help customers in banking activities

SIA has been set up to handle nearly 10,000 enquiries per second, or 864 million in a day, which is nearly 25 per cent of the queries processed by Google every day.

E-commerce sites end festive sales; mobiles, electronics top hits

According to CashKaro, the overall e-commerce industry GMV rose by over 1,000% during the sale period

McDonald's moves Delhi High Court for London court award

McDonalds India Private Ltd said it 'has filed an application… to progress the enforcement of the partial award rendered in its favour by the LCIA'.

Acharya Balkrishna makes it to Hurun rich list; Damani biggest gainer

Note ban, GST helped the rich to accumulate more wealth: Hurun; Mukesh Ambani retains the richest Indian title for the sixth year running

Tata Global Beverages incorporates subsidiary in Russia

Tata Global Beverages informed that the company’s overseas subsidiary has formed a step-down subsidiary in Russia.

Tax department concludes Cafe Coffee Day group probe

The department added: “There are a number of other issues including violations of other statutes on which there is no disclosure, but relevant evidence has been found.

Products With Pre-GST Prices to be Confiscated From October 1

As a learning from the VAT experience, legal teeth was sought to be provided in GST law to check profiteering by businesses when GST is being rolled out in the country.

Cereals, pulses to cost more now

Cereals, pulses to cost more now Cereals, pulses to cost more now

Flipkart Beats Amazon In India's Biggest-Ever Online Sale, Says Survey

Initial reports suggest that Flipkart sales during the five-day festive sales period has been double that of Amazon.

Discounts on Amazon, Flipkart & Snapdeal are illegal, claims traders' body

Traders' body CAIT today urged the government to take action action against e-commerce firms like Amazon and Flipkart, alleging they have flouted FDI norms for such players by undertaking retail trading activities.

Legacy businesses in India have burnt their fingers tapping the online market; Here's why

With another online venture that may soon bite the dust it goes to show that the e-commerce game is not for everyone.

How cashback works: Smart ways to save when you are shopping online

Websites that compare product prices and offer cashback can help you get attractive deals and discounts

Amazon deal to help tap buyers in non-metros: Shoppers Stop

Terming it as a "win win for both the formats", he added that its step in the direction of omni channel, where online and offline systems are integrat..

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