BANKING

Exclusive: Ankur Dalwani quits I-banking firm Jefferies to join biz conglomerate

February 22, 2017 | Bruhadeeswaran R

Ankur Dalwani, a managing director at Jefferies India Pvt. Ltd, has quit the investment banking firm after a two-year stint, two people familiar with the development told VCCircle.

India needs to create 'bad bank' quickly, says finance ministry aide Subramanian

February 22, 2017 | Reuters

India's finance ministry on Wednesday backed a call by the Reserve Bank of India to set up an institution similar to a "bad bank," saying urgency was needed to address troubled loans weighing on the banking sector that were hobbling investment and growth.

How was ChrysCap’s partial exit from Karur Vysya Bank?

February 17, 2017 | Bruhadeeswaran R

Private equity firm ChrysCapital Investment Advisors India Pvt. Ltd, which has built a portfolio of banking and financial services companies, sold over half its stake in Karur Vysya Bank Ltd as it looks to harvest its five-year-old bet on the Karur-headquartered lender.

Cabinet clears State Bank of India’s merger with five subsidiaries

February 15, 2017 | TEAM VCC

The Union Cabinet on Wednesday approved the merger of State Bank of India (SBI) with its five associate banks but did not take a decision with regard to Bharatiya Mahila Bank.

Credit Suisse to slash up to 6,500 jobs after $2.4 bn loss

February 14, 2017 | Reuters

Credit Suisse is to cut up to 6,500 jobs this year after reporting a 2.44 billion Swiss franc ($2.43 billion) net loss for 2016, and said it was examining alternatives to a planned stock market listing of its Swiss business.

Note ban woes drag retail inflation to five-year low in January

February 13, 2017 | Reuters

India's inflation cooled to its lowest in at least five years in January as food prices fell following the government's cash clampdown, but emerging price pressures mean the Reserve Bank of India (RBI) will probably keep interest rates on hold.

Expect outbound deals in auto components and pharma: Mahesh Singhi

February 09, 2017 | Ranjani Raghavan

Singhi Advisors recently clocked 25 years of operations in the investment banking space. Founded by Mahesh Singhi, the firm has built its business broadly around industrials and the services segment.

Exclusive: Aditya Birla Private Equity makes above average returns from RBL Bank

February 09, 2017 | Ranjani Raghavan

Aditya Birla Private Equity, which is on its way to raise its third fund, has partially exited its four-year-old investment in RBL Bank Ltd (formerly Ratnakar Bank) with neat gains.

Axis Bank to sell entire stake in Experian Credit for $9.5 mn

February 07, 2017 | TEAM VCC

Private-sector lender Axis Bank Ltd has signed an agreement to sell its entire 10% stake in Experian Credit Information Co of India for Rs 64 crore ($9.5 million).

IDFC Bank picks up stake in Fairfax-backed IIFL Holdings for $75 mn

February 06, 2017 | Bruhadeeswaran R

IDFC Bank Ltd, the youngest private-sector bank in the country, has picked up a minority stake in IIFL Holdings Ltd for about Rs 503 crore ($75 million).

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