Following a discussion paper on “Entry of New Banks in the Private Sector”, final guidelines issued in 2013 mandated banks to be set up through a wholly-owned Non-Operative Financial Holding Company (NOFHC). Though large corporate houses were allowed, the NOFHC was to hold a minimum
The banking regulator said in a notice that UVARCL had flouted norms laid down by the Sarfaesi Act and wilfully violated the RBI's guidelines, people aware of the matter said. According to the Sarfaesi Act, asset reconstruction companies cannot infuse equity into an insolvent company
The working group in its proposal has also favourably looked at allowing industrial houses as bank promoters only after making legislative changes to the banking regulation act. It has also recommended increasing cap on non-promoter holding to 15% so as to bring a uniformity among
ED has recently filed a charge sheet against Kochhar, Deepak Kochhar and Videocon Group promoter Venugopal Dhoot on money laundering charges.
“Well run large NBFCs, with an asset size of Rs 50,000 crore and above, including those which are owned by a corporate house, may be permitted to convert to banks provided they have completed 10 years of operations,” the RBI working group has proposed.
The project aims to build financial and digital literacy and improve basic business management skills to help women become successful kirana entrepreneurs.
Covid-19 cases are surging around the world, resulting in more lockdown orders as countries attempt to mitigate the spread. Airbnb admits it won’t be immune.
Any business that has a proven product-market fit and has retained over 80% of their customers is a worthy target for Basis Vectors.
A pattern is emerging where leaders of the pack along with the key players in the chase are seeking strategic purchases or alliances to become a more dominant force in the space making them more attractive to both VCs and consumers.
As travelers decide to take a gamble on 2021 bookings, they’ll take comfort in Peter Kern’s predictions for their favorite urban destinations—regardless of where they may be. That’s because entrepreneurialism is inherently resilient, as Kern puts it.