Each investment decision must be made with how capital gains tax will play out when you redeem

Understanding of capital gains tax and incorporating it into investment planning is hindered because few investors even know that there is something called capital gains tax.

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Resolution professionals tap third-party funding to run sick companies in short term

During the CIRP period, to keep the bankrupt company a 'going-concern', the RP has to make payments such as professional fees, payments to workmen and towards the maintenance of the plant and machinery, among others. In most cases, such expenses are taken care of by the lenders.

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RBI orders five banks to list zero coupon bonds at "fair value"

The regulatory direction comes after an assessment showed that valuing these instruments at face value could create a misleading picture of the banks’ financial strength and set a precedent that could be exploited in future by others and weaken the banking system.

from Banking/Finance-Industry-Economic Times https://ift.tt/Fj71k8B

RenewBuy acquires fintech firm Artivatic.AI

Artivatic.AI is valued at $10 million while acquisition is done by a combination of cash payment and share-swap deals. Promoters of the AI-based start-up have received shares of RenewBuy, according to the chief executives of both the firms. The deal was closed in the first week of February.

from Banking/Finance-Industry-Economic Times https://ift.tt/kFxL2t3

IIFL Home Finance to get $68 million ADB loans

The funding comprises a direct ADB loan of $58 million and another $10 million concessional loan from the Canadian Climate Fund. The Canadian fund will also be routed through ADB.

from Banking/Finance-Industry-Economic Times https://ift.tt/rMi2OT3

Reports related to LIC IPO claiming massive Covid deaths in 2021 speculative: Govt

The govt said that the media report related to LIC IPO has mentioned the details of policies and claims settled by the insurer to make a “speculative and biased" interpretation that Covid-related mortalities could be more than those recorded officially.

from Banking/Finance-Industry-Economic Times https://ift.tt/AEzXOkH

Credit card spends ease a tad in January, February

Average monthly total credit card spend in the country in January and February is expected to be in the range of ₹84,000 crore to ₹88,000 crore, down from ₹94,700 crore in the December quarter, ICICI Securities has said in a note.

from Banking/Finance-Industry-Economic Times https://ift.tt/FV8UGRW

IDFC FIRST Bank appoints Jaimini Bhagwati on board as additional director

Jaimini Bhagwati's appointment is for a period of three years with effect from February 18, 2022, subject to approval of shareholders.

from Banking/Finance-Industry-Economic Times https://ift.tt/oLnr4i0

HDFC Bank non-executive director Srikanth Nadhamuni resigns

"In the spirit of highest corporate governance principles of the bank, I would like to step down as director of the bank in order to preclude any instances of potential conflict of interest which may arise on account of such transactions/arrangements as regards my directorship with the bank," Srikanth Nadhamuni said in his resignation letter.

from Banking/Finance-Industry-Economic Times https://ift.tt/QXINt4E

SWAMIH Investment Fund gives final approval to 105 proposals

In November 2019, the centre had announced a Rs 25,000-crore fund -- Special Window for Affordable & Mid-Income Housing (SWAMIH)-- to help complete over 1,500 stalled housing projects comprising 4.58 lakh housing units across the country.

from Banking/Finance-Industry-Economic Times https://ift.tt/sNRzVPD

Bank of Baroda, Canara Bank announce subscription to IDRCL shares

IDRCL is an asset management company set up by the government with an authorized capital of Rs 50 crore. It will work in tandem with the National Asset Reconstruction Company Ltd (NARCL) to clean up the banking sector's bad loans. IDRCL will provide management and resolution of assets acquired by NARCL.

from Banking/Finance-Industry-Economic Times https://ift.tt/SUHe0gP

RBI approves appointment of Pralay Mondal as CSB Bank's deputy MD

Pralay Mondal, who has three decades of banking experience with several top lenders such as Axis Bank, HDFC Bank and YES Bank, has been with CSB since September 23, 2020 as president (retail, SME, operations and IT).

from Banking/Finance-Industry-Economic Times https://ift.tt/IBqAhvH

Gold auctions by lenders spike amid loan defaults

NBFCs auction mortgaged gold if customers fail to repay the loans in time. Many small businesses had taken gold loans soon after the withdrawal of the nationwide lockdown in 2020 to restart their businesses. However, before their businesses could recover fully, the second wave of the pandemic hit them. This forced many to falter on loan repayment. The spike in auction by gold loan companies shows that many small businesses are yet to recover from the impact of the pandemic.

from Banking/Finance-Industry-Economic Times https://ift.tt/Y315cqN