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Showing posts from June, 2015

RBL Bank is expanding in at a brisk pace

RBL Bank, a mid-sized lender, is a potential takeover target for some larger banks. Not surprising, considering that the bank has been turned around in the last four years by its Managing Director and CEO, Vishwavir Ahuja. "Many," says Ahuja, when asked whether any bank had approached RBL for a friendly merger. Indeed, several old private-sector banks have been acquired in recent years. Unlike RBL (formerly Ratnakar Bank), the survival of most of them was at stake because of poor operating performance. Ahuja is confident of the future prospects of his bank. "There is no question of any merger," he says. Clearly, the bank, under a new management since June 2010, which includes foreign bankers, is aiming big. ADVERTISING In the BT-KPMG study, RBL has emerged as a "Growth Winner" among mid-sized banks. It has a balance sheet size of Rs 18,198 crore and grew its deposits by 39 per cent and advances by 54 per cent in 2013/14. The...

RBL Bank Partners with CDC to Expand its Financial Literacy Program 'Saksham' in Madhya Pradesh

RBL Bank (formerly The Ratnakar Bank Ltd.) and CDC (the UK development finance institution) have announced a new financial literacy program that will be rolled out in Madhya Pradesh. The new initiative, which builds on RBL Bank’s ‘Saksham’ program, will aim to increase financial inclusion (FI) by extending financial literacy to around 25,000 individuals and 300 villages in four districts of Madhya Pradesh during 2015. The programme, which will be designed and implemented by Accion India, will target rural areas where levels of education are low and levels of financial exclusion are high. In depth classroom-style training will be supplemented by a mass awareness campaign that will specifically cater for people with low literacy levels. The umbrella financial literacy program ‘Saksham’ was launched by RBL Bank in December 2013 and through its partnerships has reached out to approximately 35,000 individuals from low-income communities in the States of Gujarat and Maharash...

RBL Bank supports Happay in launching cards

Founded in 2012, Happay is a business expense management solution that streamlines an organization’s expense workflow. It is an end-to-end solution that take cares of expense management to reporting and gives real-time visibility and control over business spending. Anshul Rai and Varun Rathi, both from IIT Kharagpur (batch of 2010) are the brains behind happay and have been trying to crack a piece of the payments puzzle. The team has been at it for a couple of years and has now figured out a way forward with support from RBL Bank in launching the cards and funding from AngelPrime, a seed stage VC fund . Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

United India ties up with Catholic Syrian Bank to offer PM Suraksha Bima

United India Insurance Company Ltd has signed an MoU with Catholic Syrian Bank for the Prime Minister Suraksha Bima Yojana. This is a personal accident insurance master policy covering all savings bank account holders of the bank between 18 and 70 years of age and declared for insurance coverage against death or permanent disability for ₹2 lakh. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Monsoon of unlisted PSU IPOs to hit India soon; 25 companies to sell shares for the first time

The government has drawn up a list of 25 state-owned companies that could sell shares to the public for the first time, possibly raising more than a third of India's record divestment target for the fiscal year. They include profit-making arms of Coal India and ONGC that could help the government get around Rs 25,000 crore in total. Such a move could fire up the primary market besides giving government finances a big boost. The department of disinvestment has written to the administrative ministries. "The idea is to create a pipeline for the next two-three years," the official said. This needs to be done as the government is close to the 51 per cent stake level in several listed stateowned companies, the person said. "So, the ideal situation is that we have approvals for stake sale in these firms and we can proceed depending on market conditions." The unlisted firms may include ONGC Videsh, Southern Coalfields, Bharat Broadband, KIOCL and Mazagon Dock...

MSTC gets Odisha government's mandate to e-auction liquor licences

: "There are only two real ways to get ahead today, sell liquor or drink it." What American actor WC Fields probably said in the early nineties still holds true — at least for state-owned trading company MSTC Ltd. From auctioning scrap to selling liquor dealerships, the lesser known PSU has come a long way. In a first-of-its-kind move, MSTC has been approached by the Odisha government to e-auction the state's liquor licences. So far, the state has been holding manual auctions for the dealerships. Thanks to the coal auctions, the miniratna company under the steel ministry is in demand, with none other than power and coal minister Piyush Goyal and Andhra Pradesh chief minister Chandrababu Naidu among its admirers. "The coal minister, who is a chartered accountant himself, and tech savvy Chandrababu Naidu are very impressed with MSTC's work," said a company official. Other states including Rajasthan, Madhya Pradesh and Andhra Pradesh have ap...

Tamilnad Mercantile Bank standalone net profit rises 69.11% in the March 2015 quarter

Total Operating Income rise 6.00% to Rs 743.57 crore Net profit of Tamilnad Mercantile Bank rose 69.11% to Rs 134.54 crore in the quarter ended March 2015 as against Rs 79.56 crore during the previous quarter ended March 2014. Total Operating Income rose 6.00% to Rs 743.57 crore in the quarter ended March 2015 as against Rs 701.46 crore during the previous quarter ended March 2014. For the full year,net profit rose 26.14% to Rs 379.40 crore in the year ended March 2015 as against Rs 300.77 crore during the previous year ended March 2014. Total Operating Income rose 4.92% to Rs 2835.53 crore in the year ended March 2015 as against Rs 2702.65 crore during the previous year ended March 2014. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com