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The 100-year-old CSB Bank, which is majority-owned by Canadian billionaire Prem Watsa’s Fairfax group, had announced plans to transform itself into a new-age bank. After a clean-up of loan books and infusion of capital, the bank decided to focus on gold loans until the transformation is in place. Last year, its gold loan business rose 60% with the share of such loans rising to 40%.
Shadow banks are riding out the crisis while virus ravages IndiaThe central bank is propping up the industry, announcing some 100 billion rupees ($1.36 billion) of special liquidity last month to organizations that fund mortgage lenders and housing finance companies, and permitting banks … Read MoreRBI to give staff option to join pension scheme“This will be the last such option given to eligible serving/retired employee/ family members of deceased employees to switch over from CPF scheme to pension scheme and no further option will be given in future,” RBI said in … Read MoreStocks in the news: Happiest Minds, SBI, SpiceJet, Mindtree and Lakshmi Vilas BankHappiest Minds is set to make it debut on the bourses on Thursday.
from Stocks-Markets-Economic Times https://ift.tt/3c8vBtT
… Read MoreDue diligence of LVB to end in 4 weeks: Clix’s Bhasin"Getting the paper work done, meeting people, sharing information and the general due diligence has been a challenge due to the pandemic so its taken us time. But the bank has worked well with us and a bulk of the hard work h… Read MoreFIIs turn a bit cautious amid Street euphoriaMarket participants like UR Bhat, director of FII advisory Dalton Capital Advisors, believe that while the index could test the August 31 high of 11,794.25, the fact that FIIs have begun to hedge at the current 11,600 level i… Read More
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