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ICICI Venture reports fall in fee income, profits

Madhav A Chanchani

ICICI Venture, led by Vishakha Mulye, also states it has managed to raise $685 million for its three new funds.

Bangalore-based microlender Samasta in talks to raise over $5M

Bruhadeeswaran R

This will be the first round of equity funding for Samasta in over three years after scooping Rs 2 crore in December’09 from Kalpathi Investments.

Subbarao overruled panel view on rate action in May

Reuters

A majority of external members of the central bank's monetary policy committee recommended no change in the policy repo rate at a May 3 policy meeting.

RentWorks hires investment banker for sale of Indian arm, L&T Finance seen among suitors

Bruhadeeswaran R & Madhav A Chanchani

RentWorks India has been on the block for over six months and has held discussions with some of the leading NBFCs that have been looking to grow their business through acquisition.

Vikram Pandit buys stake in JM Financial, to apply for banking licence

Former Citigroup CEO Vikram Pandit will spearhead Nimesh Kampani-led JM Financial’s proposed banking venture and make a strategic investment in the financial services group. He will also set up a $100 million distressed asset fund, along with JM Financial.

BANKING
MICRO FINANCE
ALTERNATIVE INVESTMENT
ECONOMY

Banking

Morgan Stanley to sell India wealth management unit to StanChart

ING Vysya Bank to raise $365M through QIP, preferential allotment

Vikram Pandit set to buy stake in JM Financial

Vikram Pandit buys stake in JM Financial, to apply for banking licence

Rajiv Lall takes over as IDFC chairman as Deepak Parekh steps down; Vikram Limaye named new MD & CEO

Barclays' investment bank outshines overall profit drop

SVB retuned lending strategy in India to accommodate wider range of business models: Ajay Hattangdi

SBI looking to merge a few subsidiaries this fiscal: Pratip Chaudhuri

US-based M&A advisory firm Woodbridge opens India office in Pune

Citigroup profit rises 30% as investment banking grows

Micro Finance

NSE's Ravi Narain joins IndoStar Capital's board

Utkarsh pegs capital requirement at $72.8M, aims to raise $6-7M this fiscal via ECB

SKS Microfinance sustains profit streak in Q4, non-Andhra loan portfolio up 35% over Q3

Arman Financial expects MFI lending to outpace consumer finance in FY14

IFC to lend $10M each to Ujjivan and Equitas through ECB route

IFC to invest up to $7.4M in IFMR Rural Channels and Services

Utkarsh Micro Finance raises $3.6M from existing investors; promoters to put in more

Satin Creditcare raises $7.6M in new funding, Lok Capital scores 2x in exit

MFI securitisation market growth slumps in FY13, rescued by small players

IFC to lend up to $11M to Pune-based Suryoday Microfinance

Alternative Investment

Bangalore-based microlender Samasta in talks to raise over $5M

ICICI Venture reports fall in fee income, profits

Praveen Kadle of Tata Capital on PE arm's fundraising, overseas funds and investment opportunities in India

Oman India Joint Investment Fund expects to fully deploy $100M corpus by FY14 end

PE-backed NBFCs post mixed results

Tata Opportunities Fund nearing two deals, also to target buyouts

Singhi Advisors adds four directors across verticals

Warburg Pincus raises $11.2B global mega fund

Former Red Fort Capital director Kuldip Chawla sets up ASK Strategies

Accion’s Venture Lab invests in financial inclusion startup Varthana

Economy

RBI cuts repo rate by 25 basis points, says little scope for further monetary easing

Is India downloading the ‘6 killer Apps’?

RBI bars firms from using overseas direct investment route for currency & commodity trading

GDP growth in 2013-14 seen at 6.4%

Exports fall in FY13; March pick-up offers current account relief

Inflation hits 3-yr low, down to 5.96% in March

Finding growth at the base of the pyramid

Inflation likely eased further in Feb, rate cut seen

Budget: What could have been done

Economy grew 4.5% in December quarter

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