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Showing posts from September, 2013

FINANCIAL INCLUSION IS BIG BUSINESS FOR RATNAKAR BANK

Even as the Kolhapur-based private lender Ratnakar Bank continues to serve the local community of traders, small businessmen and farmers, it now aspires to become a pan-India player. The strategy for expansion is to keep the plan simple: build on legacy, achieve scale and enter new regions. “We are only trying to extend the boundaries of what has been built. We are very clear in our minds that we cannot make this bank a reflection of our previous organisations. We have consciously put those clothes behind us,” says Rajeev Ahuja, who earlier worked with Citi and currently heads the strategy and financial markets division at Ratnakar Bank. Excerpts: Ratnakar Bank is known for reaching out to small borrowers and lowincome groups. These have been no-go areas for most banks who fear that that their money would be wasted on poor customers and bad loans. Still your bank has been able to maintain profitable growth. Can you share with us the success of your business ...

CCI gives green signal to Ratnakar Bank-RBS deal

Fair trade regulator CCI has approved private sector lender Ratnakar Bank' proposal to buy Royal Bank of Scotland's credit card business, mortgage portfolio and banking operation in the country, saying the deal will not have an adverse impact on competition. Royal Bank of Scotland (RBS) mortgage portfolio includes housing loans, while banking business includes providing small and medium sized enterprises with high end products and services. In its order dated September 10, Competition Commission of India (CCI) said the proposal "is not likely to have an appreciable adverse effect on competition in India and, therefore, the Commission hereby approves the proposed combination under...The (Competition) Act". The regulator said it has observed that after the proposed deal between the banks comes into effect, RBS would exit the credit card business, mortgage portfolio and business banking segment. "Currently, Ratnakar Bank has no presence in the credit ...

Catholic Syrian Bank seeks RBI nod for divesting further stake

The promoters of private sector Catholic Syrian Bank have sought the Reserve Bank's nod for divesting further stake in the bank to a UAE-based businessman, a top bank official said today. Siam Vidhya Group, promoted by Bangkok-based Non-Resident Indians, had acquired 36.18 per cent equity shares of the city-based bank in 1994. In May 2012, the holding of stakes by the Group declined to 17.99 per cent, said Catholic Syrian Bank Managing Director and Chief Executive Officer Rakesh Bhatia. Last April, out of the 17.99 per cent stake held by Siam Vidhya Group, 4.99 per cent had been sold to Abu-Dhabi based EMKE Group promoted by Yusufali M A, he added. "The proposal for further transfer of three per cent stake (from Siam Vidhya Group to EMKE Group) has been submitted to the Reserve Bank of India about two months ago", he told PTI. Sandip Ginodia A BHISHEK SECURITIES   We deal in over 60 unlisted companies with 15 years of experience . Website : www.a...

Trilium, Punjab's largest mall to open next month in city

Tata Realty and Infrastructure Ltd, a hundred percent subsidiary of Tata Sons Ltd, one of India's largest and most respected conglomerates, marks it foray into Punjab with the launch of 'Trilium', in Amritsar early next month. 'Trilium' is poised to be the largest and finest retail destination in Punjab and its launch will fortify Amritsar's position on the Indian retail map. Spread over a land area of 5.54 acres, this 700,000 square feet retail mall will offer an experience beyond shopping, dining and entertainment to shopping aficionados, food connoisseurs and mall goers in Punjab. Developed by one the leading architectural firm - RTKL, USA, 'Trilium' will be one of the few Indian malls that is LEED compliant and earthquake resistant. Best-in-class technological and design elements have been used in construction operations and management, creating an exclusive feel and convenience for custome...

Nitin Nohria joins Tata Sons board

Nitin Nohria, dean and George F Baker Professor of Business Administration at Harvard Business School, has been appointed non-executive director of Tata Sons. The Tata Sons board now comprises Chairman Cyrus Mistry, Farrokh K Kavrana, R Gopalakrishnan, Ishaat Hussain, Vijay Singh and Nohria. Earlier, Nohria served as co-chair of the Harvard Business School leadership initiative, senior associate dean of faculty development and head of the organisational behaviour unit of Harvard Business School. A doctorate in management from the Sloan School of Management, Massachusetts Institute of Technology, he holds a BTech degree in chemical engineering from Indian Institute of Technology-Bombay (which honoured him as a distinguished alumnus in 2007). He was a visiting faculty member at the London Business School in 1996. He has served as advisor and consultant to several companies across the world. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies w...

Tata Motors' Jaguar Land Rover to invest £1.5 bn in new technology

Tata Motors -owned Jaguar Land Rover (JLR) has announced a major investment boost of £1.5 billion to introduce a technologically advanced aluminium vehicle architecture in a new range of models. The company will create as many as 1,700 new jobs at its advanced manufacturing facility in Solihull in the West Midlands region of England to meet the requirements of the enhanced product portfolio. The latest additions will bring the total number of UK manufacturing jobs announced by Jaguar Land Rover over the last three years to almost 11,000. Jaguar Land Rover global sales up 28 pct in August "Jaguar Land Rover is a business driven by design, technology and innovation and this investment and level of job creation is yet further evidence of our commitment to advancing the capability of the UK automotive sector and its supply chain," Jaguar Land Rover Chief Executive Officer Ralf Speth said at the Frankfurt Motor Show on Monday. Sandip Ginodia A BHISHEK SECURIT...

Telecom Commission okays TCI’s move to exit Bharti Hexacom

The Telecom Commission has cleared state-run Telecommunication Consultants of India's plan to exit Bharti Hexacom, a subsidiary of Sunil Mittal-founded Bharti AirtelBSE 8.66 %, to raise cash to meet its capital expenditure needs. A board member of Telecommunication Consultants (TCIL) said the company will shortly appoint an independent advisor to recommend a reserve price for its 30 per cent stake in Bharti Hexacom. "If the new reserve price is cleared by Telecom Commission, the advisor will invite bids later this year from potential buyers of TCIL's 30 per cent holding in Hexacom," the board member told ET on condition of anonymity. Bharti Airtel, which has the first right of refusal, did not reply to ET's query on whether it is open to buying out TCIL's 30 per cent stake. Two years ago, consultant Deloitte had set a Rs 1,800-crore base price for TCIL's 30 per cent stake, which the then cabinet secretary KM Chandrasekhar had dismissed "as too ...