Ashok Vaswani, MD & CEO, Kotak Mahindra Bank MUMBAI: Kotak Bank chief executive Ashok Vaswani said large banks that sold stakes in their financial-services subsidiaries to foreign investors lost considerable long-term value, arguing that full ownership of such businesses is a strategic advantage.Speaking at a media gathering on Wed, Vaswani urged reporters to “go and…
BENGALURU: Electric motorcycle maker Ultraviolette raised $45 million in fresh growth capital from Zoho Corporation and European investment firm Lingotto as part of its ongoing series E round. The company said the funding will be used to scale production and sales of its flagship F77 electric sportbike and the new X-47 crossover, as well as…
CEO & chairman of the executive board Herman Gref with Putin (AP photo) NEW DELHI: Sberbank, Russia’s largest lender, is looking to ramp up its operations in the country, opening up to 10 branches, investing surplus rupees from bilateral currency trade in Indian govt bonds and getting Russian investors to park funds in Nifty stocks.“We…
MUMBAI: Association of National Exchanges Members of India (ANMI), the largest association of stock brokers in India, has written to the markets regulator Sebi, urging it to allow NSE to re-launch weekly options contracts on Bank Nifty. In Oct 2024, concerned by the rising losses incurred by retail investors who traded in equity options, Sebi…
MUMBAI: In one of the most significant orders against a stock market influencer, Sebi on Thursday directed to impound Rs 546.2 crore from Avadhut Sathe Trading Academy and Avadhut Sathe together. Sebi also asked the entities to stop “offering unregistered investment advisory and research analyst services”. They have also been barred from the market till…
MUMBAI: Reserve Bank of India has expanded the range of free services that any customer can receive from a zero-balance zero-fee basic savings bank deposit account, directing lenders to treat the product as a normal savings service rather than a stripped-down alternative.Banks have also been directed to convert existing accounts into BSBD accounts if they…
Piyush Goyal (File photo) NEW DELHI: Commerce and industry minister Piyush Goyal Thursday called for a need to balance bilateral trade with Russia, which is heavily tilted in Moscow’s favour due to large imports of crude petroleum and fertiliser.India exported goods worth under $5 billion last year, comprising largely of machinery, pharma and chemicals, while…
MUMBAI: The rupee closed at 89.98 a day after breaching the 90 mark against the greenback. Dollar sales by foreign banks and likely inflows halted a six-session decline in the domestic currency.The rupee hit 90.42 intraday before closing higher. Wider trade deficits, weak investment flows and stalled US trade talks have slowed inflows and pushed…
BENGALURU: Bengaluru-based electric motorcycle maker Ultraviolette has raised $45 million in fresh growth capital from Zoho Corporation and European investment firm Lingotto as part of its ongoing Series E round.The company said the funding will be used to scale production and sales of its flagship F77 electric sportbike and the new X‑47 crossover, and to…
File photo (Picture credit: ANI) The Indian rupee’s slide past Rs 90 per US dollar for the first time ever has shifted sentiment in the equity market and raised fresh concerns for investors. The breach of this psychological level has come on the back of weak capital flows, steady demand for dollars from importers, and…