Page 3 - Finance

Early-stage VC firm 8i Ventures scores 12X return on M2P Fintech exit

The fintech startup's evolution from a card-issuing platform to a broader banking-as-a-service (BaaS) provider helped drive the returns

US top source of international visitors for Diwali in India: Agoda

Goa, Mumbai, Chennai and Jaipur are other popular destinations, according to travel booking firm

Feasibility of expanding RTGS to settle transactions can be explored: Das

Divergence in global monetary policies can be expected to lead to volatility in capital flows and exchange rates, which may disrupt financial stability, says Das

If your credit card has been compromised, here is what you should do

Change passwords for accounts associated with the card, contact the police

Gained in translation: How mastery in languages can be made a career

Demand for translating Indian language literature and nonfiction is expanding

Consumers can port their health insurance midway: Here is what they must do

Using the option could result in delays in claim settlements as new company will familiarise itself with your medical history

GPF interest rate remain unchanged at 7.1 %: How it is different from EPF

Government workers can invest in the GPF, a long-term savings plan, and build up savings throughout the course of their employment. Upon retirement, an employee is paid the entire sum accumulated

ICICI Prudential Mutual Fund unveils two passive funds: Check details

Both offerings fall under the smart beta category, focusing on a factor-based strategy to provide investors with a low-cost, value-driven investment approach

Baroda BNP Paribas MF launches Momentum 30 index fund: Who should invest

Scheme will follow passive strategy to leverage the top 30 momentum stocks from the Nifty 200 Total Return Index

Bank bond issuance likely to touch Rs 1.2 trn level in FY25 : Report

Infrastructure to command about 66% share in issuance, according to ICRA

Odisha 'to join' Ayushman Bharat: All about health insurance scheme

It offers comprehensive coverage that includes 1,949 medical procedures across 27 medical specialties

How to get a Digital Life Certificate via face verification?

Face authentication allows pensioners to submit their life certificates from home, eliminating the need to visit a bank or pension disbursal office

New scheme to settle pending tax disputes from Oct 1: All you should know

Taxpayers with pending disputes or appeals, including writs and special leave petitions, filed by either the taxpayer or tax authorities as of July 22, 2024, can avail the scheme

Mixed media: Art made of everyday objects has a brush with market

It allows artists to express various themes without being confined to a single medium

Foreign banks in regulatory standoff seek RBI relief on trading rules

In October 2022, Esma de-recognised the Clearing Corporation of India, creating significant obstacles for European banks conducting large-scale transactions

Tax on EPF withdrawals: Know what rules say about deduction, exemption

To ensure accurate TDS deduction it is important to submit your PAN when applying for provident fund withdrawal

SBI Life fined Rs 1 cr by insurance regulator for 'violating norms'

IRDAI's says investigation was based on various charges arising from an on-site inspection and several regulations under the Insurance Act of 1938

Shriram Finance plans to raise $1 bn from overseas in next 6 months

NBFC Shriram Finance plans to raise USD 1 billion (about Rs 8,300 crore) from overseas in the next 6 months to fund its business growth. "We are planning to raise USD 300 million in the next few weeks, may be by October and rest USD 500-700 million during the remaining part of the current financial year," Shriram Finance Managing Director and CEO Y S Chakravarti told PTI. The fund raise would also include loans from development financial institutions like Asian Development Bank, Kfw, and United States Development Finance Corporation (DFC). The timing would depend on market conditions, he added. To fund its business growth, the Non-Banking Financial Company (NBFC) raises resources from diversified sources like public deposits, bank finance and raising money from domestic markets. On the loan growth, Chakravarti said, it is expected to increase 15 to 16 per cent during the current financial year. The company's Assets Under Management (AUM) stood at Rs 2.33 lakh crore at the end of J

Finance platform Drip Capital raises $113 mn through debt, equity issue

US-based trade finance platform Drip Capital, which has 90 per cent employees in India, secured USD 113 million, about Rs 949 crore, through a mix of debt and equity issue, the company said on Thursday. The funding includes USD 23 million equity investment from Japanese institutional investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC), while it has raised USD 90 million in debt financing led by the International Finance Corporation (IFC) and East West Bank. "We have raised USD 113 million which is a mix of debt and equity investment. Japanese institutional investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC) have invested USD 23 million in equity while USD 90 million in debt financing has been led by the International Finance Corporation (IFC) and East West Bank," Drip Capital Co-Founder and CEO Pushkar Mukewar said. He said that the company funds trade worth USD 1.8-2 billion annually and 50-60 per cent of its business originates fro

Banks to maintain real-time fraud list, more than 3,000 entities listed

Lenders would be required to consult this list before engaging with these entities and continuously update it