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FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 10:17 PM - Aug 13, 2019 ( ) Views: 86

The RBI today announced that it will soon carry out a review of rules governing Housing Finance Companies after the latest Union Budget handed over their regulation to the RBI from the NHB. HFCs will now be treated as one category under the NBFCs. The grievance redressal mechanism regarding HFCs will also continue to be with the NHB. -Economic Times


Aditya Birla Health Insurance has entered into a bancassurance partnership with Axis Bank. -Business Line
Catholic Syrian Bank has filed draft prospectus for IPO with SEBI. Through the offer, the bank is looking to raise fresh capital by issuing shares worth ₹30 crore apart from an offer for sale of 1.98 crore shares by existing shareholders. -Business Line


The Govt could explore the public-private partnership (PPP) arrangement for PSBs, by inducting a private sector bank as a strategic partner in the former in a transparent manner. In an annexure to a document prepared by the Finance Ministry, Uday Kotak, MD and CEO, Kotak Mahindra Bank, suggested that the strategic partner could hold a 26% stake in the PSB and the government could cap  its holding at below 40%, with the aggregate holding of the two entities being below 65%. -Business Line


HDFC Bank MD Aditya Puri remained the highest paid bank chief executive in India with a monthly basic salary of Rs 89 lakh in FY19. Puri has led the bank since its inception 25 years ago. -Economic Times


India's retail inflation eased marginally to 3.15 % in July from 3.18% in June on the back of high food prices. The number, however, remained below RBI's 4% for the 12th straight month, despite recent
interest rate cuts. -Economic Times


LIC has posted a higher-than-industry growth of 51.86% YoY in new business collection for the April to July 2019 period. LIC collected new premiums of Rs 60,106.66 crore for the period compared to Rs 22,039.81 crore collected by the private companies. -Moneycontrol.com


Pension fund manager HDFC Pension Management is looking to touch assets under management (AUM) of Rs 10,000 crore in FY20, Sumit Shukla, CEO said. -Moneycontrol.com


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