Private Equity Investment Declines In India For First Time In 6 Years
Venture Capital (VC) deals fell 15.53 per cent in 2008 from a year earlier according to data compiled by Venture Intelligence a company which tracks VC and PE deals. Private Equity transactions fell by 23.8 per cent in 2008 compared to a year earlier largely because entrepreneurs were unwilling to accept lower valuations.
>> Read more
RBI Directs Banks To Quantify Satyam Exposure Whilst Citi Freezes Satyam Bank Accounts
India’s central bank the Reserve Bank of India (RBI) has asked for information from Indian banks and the Indian subsidiaries of international banks regarding their direct or indirect loan and equity exposure to financially tainted Satyam Computer Services, its related companies or subsidiaries.
>> Read more
Banks In Denial Over Satyam Exposure
Currently the Indian banking sector seems to be in denial mode about potential exposure to Satyam Computer Services, with most lenders rushing to deny any exposure or to state that whatever exposure they do have is not material.
>> Read more
Kochhar’s Appointment Means More Women Reaching The Pinnacle of Indian Banking
ICICI Bank, India’s largest private lender named Chanda Kochhar as its new Chief Executive last week adding to the growing number of females who are part of the top ranks of the industry. Ms Kochhar is a member of an elite group of women bankers in India who run financial institutions including HSBC, ABN Amro, JPMorgan, UBS and ICICI’s insurance division.
>> Read more
Tata Capital To Raise US$ 200 Million Through Domestic Bond Offering
The Financial unit of Tata Sons, Tata Capital, a non banking finance company (NBFC) plans to raise funds by issuing debt worth Rs 1,000 crore or US$ 208 million. Tata Capital provides services in areas such as capital markets, housing finance, assets and vehicle financing, retail finance, merchant banking and private equity investment.
>> Read more
ONGC Formal Bid For Imperial Approved by Indian Government Despite Falling Oil Price
The Congress led Central Government today allowed state owned ONGC Videsh to make its £ 1.4 billion Rs. 10,150 crore bid for 100 per cent equity in UK listed Imperial Energy formal. The Government has extended its permission for the acquisition of the energy company which has numerous fields in Russia despite falling crude oil prices and a valuation which resulted from a price of a barrel far higher than it is today.
>> Read more