Sabare International, a Karur-based home furnishings company, has taken ICICI Bank to court over a foreign exchange derivative contract. The company has requested the Karur civil court to declare the contract void.
This is the second company to have gone into a legal dispute with ICICI Bank after the Chennai-based Sundaram Multi Pap, which had alleged […]
HSBC Financial Services Middle East has picked up a 4.99 per cent stake in Yes Bank in the secondary market.The global investment arm of HSBC has been investing in the bank since January. “Like Rabo Bank investments, HSBC Financial Services Middle East’s investment in Yes Bank should be viewed as a financial investment. There is […]
Deal does not include mutual fund distribution business.
Infrastructure Development Finance Company (IDFC) has bagged Standard Chartered’s asset management business (AMC) in India for a total consideration of $205 million (around Rs 820 crore) in an all-cash deal.
This amounts to 5.67 per cent of the total assets under management of Rs 14,141 crore of StanChart’s AMC […]
Andhra Bank has informed that Andhra Bank, Bank of Baroda and Legal and General Insurance U.K., have signed the Subscription and Shareholders Agreement on March 04, 2008, for a Joint Venture to launch Life Insurance operations.
The Memorandum of Understanding for the Joint Venture was signed on November 16, 2007.
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Anil Ambani’s Reliance Capital, one of the country’s biggest finance companies, has been allowed to trade in bad loans. On Tuesday, the company received the RBI approval that will enable its asset reconstruction firm to buy stressed assets from the Indian financial system. The system is estimated to have Rs 1,65,000 crore worth of stressed […]
State Bank of India’s subsidiary SBI Capital Markets plans to set up a $(US) 100 million (about Rs 400 crore) venture capital fund to invest in knowledge-based sectors in the country.
The SBI Capital Markets has already entered into a 50:50 joint venture Softbank Investment Holdings Inc of Japan for the fund.
The India Knowledge Fund will […]
Over five lakh ICICI Big Bazaar credit card holders will be asked to migrate to Future Card to be introduced by Future Capital Holdings (FCH), the financial arm of the Kishore Biyani-led Future Group.
“The Future Card will also be issued to current holders of the ICICI Big Bazaar Card after obtaining written consent. We plan […]
Reliance Capital Ltd (RCL) on December 12, 2007 announced a proposed investment by Eton Park, a leading global investor, in Reliance Capital Asset Management Ltd (RCAM), a 100% subsidiary of RCL.
Eton Park proposes to invest Rs 501 crores for an approximate 5% equity stake in RCAM, at an equity valuation of Rs 10,000 crores.
The proposed […]
State Bank of India Rights Issue : SBI Rights Issue
SBI has said it is exploring three to four options to raise funds, including a rights issue, a public offer and preferential share sale.
But Rights issue of SBI is the most possible outcome as govt stake can be maintained and infact chance to increase the stake […]
Government to decide on SBI’s rights issue in 2 weeks
Government is likely to take a decision on public sector lender State Bank of India’s proposed plan to raise about Rs 18,000 crore through a rights issue in the next fortnight.
“It is likely that government would take a call on the capital raising plan for SBI […]
