Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
IndusInd Bank to set up impact financing unit
Private sector lender IndusInd Bank Ltd is preparing to open a new vertical to focus on so-called impact financing, said Roopa Satish, country head for corporate, institutions and investment banking at IndusInd Bank, reports Mint. Read more
B.M. Khaitan, G.P. Goenka exit ends Jay Shree Tea’s unique experiment
In the space of seven months, two business tycoons—B.M. Khaitan and G.P. Goenka—have quit the board of Jay Shree Tea and Industries Ltd after serving as non-executive directors, respectively, for 43 and 33 years, ending a unique experiment by the company’s chairman Basant Kumar Birla, reports Mint. Read more
Reliance Retail plans to expand B2B play
Reliance Retail wants to expand its business-to-business play by foraying into distribution of apparel, FMCG and white goods directly to neighbourhood and kirana outlets since it wants to tap a larger pie of the market considering the scope of exponential growth in organised retail, currently limited to 8% of the total market, reports The Economic Times. Read more
Lite Bite Foods may opt for IPO route for funds
Lite Bite Foods, which runs over 180 restaurant stores including Punjab Grill and Street Foods, is looking to list on the stock market over the next 12 months, reports The Economic Times. Read more
Indian startup ecosystem ahead of China: Michael Marks
Michael Marks, whose investments include Twitter and SpaceX, said that India is ahead of countries like China and Israel in having a robust and deep startup ecosystem, reported The Economic Times. Read more
Bankers look for speedy resolution of 28 accounts
Bankers are looking to speed up the resolution of 28 accounts, including Videocon Industries, Jaiprakash Associates and Uttam Galva Steel, as a 13 December deadline looms. These companies are part of the Reserve Bank of India’s second list of defaulters to be referred to bankruptcy proceedings for recovery of more than Rs2 trillion, reports The Economic Times. Read more
PNB, Indian Bank, Syndicate Bank likely to launch QIPs this month
At least three state-run lenders—Punjab National Bank (PNB), Syndicate Bank and Indian Bank—are likely to launch their qualified institutional placement (QIP) offerings in the coming weeks, reports Mint, citing three people aware of the development. Read more
Retail equity participation will only accelerate: BNP Paribas India CEO
BNP Paribas has been growing its business in India. Besides wholesale banking, where it has invested new capital, it acquired stockbroking firm Sharekhan, and recently sold a part stake in SBI Life Insurance in an initial public offering (IPO). Joris Dierckx, country head and chief executive officer, BNP Paribas India, in talks with Business Standard on how the group plans to capitalise on the retail investors’ appetite for equities, mutual funds (MF) and other financial products. Read more
Bankers prepare to send nearly Rs 1.8 trillion in loans to NCLT
Loans worth nearly Rs1.82 trillion are at risk of entering the insolvency and bankruptcy process this month, reports Bloomberg, citing three bankers with direct knowledge. Read more
FPIs net outflow from equities at Rs4,000 crore in December so far
Foreign investors have pulled out more than Rs4,000 crore from the country’s stock markets this month so far, mainly due to rising crude prices and widening fiscal deficit, reports PTI. Read more