Tag Archives: Finance

Muthoot Finance Q3 net profit jumps 59% to Rs 464 cr

Muthoot Finance today reported 59 per cent jump in its consolidated net profit to Rs 464 crore for the third quarter ended December 31, the highest ever quarterly gains on increased demand for loans. The company had made a net profit of Rs 291 crore during the corresponding quarter of 2016-17. Total income grew by 16 per cent to Rs ... Read More »

Breakingviews – The Exchange: Italy’s finance boss

(Reuters Breakingviews) – Pier Carlo Padoan, who has run Rome’s Ministry of Economy and Finance for the past four years and under its last two prime ministers, says Italy must continue economic reforms no matter who wins elections in March. Padoan also predicts no “Italian surprise” at the polls. Italy’s Finance Minister Pier Carlo Padoan attends a news conference at ... Read More »

Artificial Intelligence To Revolutionize Finance Department And Change The Role Of Accountants

LOS ANGELES, Jan. 8, 2018 /PRNewswire/ — Finance & Accounting departments are experiencing fundamental changes as artificial intelligence (AI) software becomes more sophisticated, changing the type of work completed by current staff, according to research results released by BlackLine, Inc. (Nasdaq: BL), a leading provider of financial controls and automation software that enables Continuous Accounting. The research, conducted by Censuswide, incorporates the responses of 300 ... Read More »

Public Accounts Committee meet finds fault with Finance Dept officials on over drawing

Public Accounts Committee meet finds fault with Finance Dept officials on over drawing  Amaravati: The Public Accounts Committee (PAC), in its meeting held at AP Assembly on Monday, finds fault with the Finance Department officials for continuously going for over drawing (OD). The PAC Chairman & YSRCP MLA Buggana Rajendranath Reddy warned the officials for not maintaining and not submitting accounts from ... Read More »

These are the five-alarm personal finance stories of 2017

Globe and Mail readers and I agree that housing is possibly the most important personal finance topic of recent years. Seven of my 15 most-read columns and newsletters this past year were about housing, and I’m sure much the same would be true of previous years. My most popular column in 2017 was titled “Sorry to burst your bubble, but owning ... Read More »

ESAF Small Finance Bank to open 60th branch on Wednesday

ESAF Small Finance Bank is opening its 60th branch at Andheri (East) in Mumbai on Wednesday. The erstwhile microfinance lender, which converted itself into a small finance bank following the receipt of RBI’s licence, had begun its operations in March this year. Announcing the launch of its Mumbai operations, K Paul Thomas, MD & CEO, said the bank, which currently ... Read More »

AU Small Finance gets scheduled commercial bank status

AU Small Finance Bank has received Reserved Bank of India (RBI) approval to operate as Scheduled Commercial Bank. This bank’s name has now been included in the Second Schedule of Reserve Bank of India Act, 1934. Post acquiring scheduled commercial bank status, AU Small Finance Bank will be able to do borrowing and lending with RBI under Liquidity Adjustment Facility ... Read More »

Morgan Stanley initiates coverage with overweight rating on AU Small Finance Bank

     AU Small Finance Bank share price gained a little over 2 percent after global brokerage firm Morgan Stanley has initiated coverage with overweight rating on the stock. The research house has set a target of Rs 725 per share for the stock, implying 19.3 percent potential upside over Thursday’s closing price. Morgan Stanley expects the non-banking finance company to ... Read More »

Family Finance: Chennai-based Balasubramaniam couple needs to cut expenses to meet financial goals

Balasubramaniam can begin by building an emergency corpus of Rs 2.94 lakh, which is equal to his six months’ expenses S. Balasubramaniam stays in Chennai with his homemaker wife and a three-year-old son. He brings in Rs 50,000 a month as salary, of which Rs 30,000 is spent on household expenses, Rs 15,000 is given to his parents, and Rs ... Read More »

Small finance banks on deposit mobilisation spree on 1st year of operation

With eight out of ten small finance banks now fully operational, aggressive deposit mobilisation in the first year of operation has turned out to be the key strategy for almost all the new entities. In addition, the new age banks are betting big on technology to reduce the cost of operations.   All the operational small finance banks are offering up to 100-150 basis points higher interest rate on term deposits over market rates. ... Read More »