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Bandhan Bank Q3 profit rises 36 pc to Rs 859 cr

The private sector lender had posted a net profit of Rs 633 crore in the same period of the previous fiscal year.

Bandhan Bank on Friday reported a 36 per cent rise in net profit at Rs 859 crore for the third quarter ended December 31, 2021.

The private sector lender had posted a net profit of Rs 633 crore in the same period of the previous fiscal year.

Total income during the quarter under review increased by 7.7 per cent to Rs 2,837 crore from Rs 2,625 crore in the same period of 2020-21, Bandhan Bank said in a

NTPC seeks builders for 900-MW photo voltaic park in Cuba

The corporate lately invited banks and monetary establishments to position presents for elevating $750 million as exterior business borrowing to fund its capital expenditure.

State-run NTPC has invited bids from builders to construct a 900-megawatt (MW) photo voltaic park within the Republic of Cuba.

NTPC, underneath the Worldwide Photo voltaic Alliance (ISA) programme, will help Cuba within the choice course of, signing of related agreements and overseeing venture implementation until commissioning. NTPC is the project-management guide of the ISA platform, which goals to advertise photo voltaic expertise in nations mendacity between the Tropics of Most cancers and Capricorn. Cuba is

NTPC to boost $750 million in international forex loans

As FE reported earlier, additionally it is in search of strategic buyers to dump some stake in its wholly-owned subsidiaries NTPC Renewable Power (NREL) earlier than floating preliminary public choices of a few of its subsidiaries, together with NREL.

State-run energy producer NTPC will increase $750 million as exterior industrial borrowing to fund capital expenditure and refinance its present loans. It has invited banks and monetary establishments to put their affords to the corporate.

It’s in search of borrow $500 million, with a inexperienced shoe-option of one other $250 million, at a median maturity interval of seven years. The corporate

IOCL to spend Rs 7,000 crore on new CGD areas

After the newest CGD public sale, IOCL will likely be current in 26 GA throughout 11 states. If its CGD joint ventures are included, the corporate will likely be current in 49 GA throughout 21 states. With the newest announcement, the whole funding earmarked by the corporate for its CGD vertical is Rs 27, 000 crore.

State-run Indian Oil Company (IOCL) stated on Sunday that it plans to spend over Rs 7,000 crore on the 9 geographical areas (GA) it bagged within the first tranche of the eleventh spherical of public sale for metropolis fuel distribution (CGD). The federal government

Govt inaugurates nation’s first coal to methanol plant constructed by BHEL

Union Minister for Heavy Industries Mahendra Nath Pandey mentioned one of many necessary targets of Prime Minister Narendra Modi’s imaginative and prescient is to construct a self-reliant nation.

Union Minister for Heavy Industries Mahendra Nath Pandey on Saturday devoted India’s first BHEL-built ‘coal to methanol’ (CTM) pilot plant to the nation right here, as a part of the continued ‘Azadi Ka Amrit Mahotsav’ celebrations, an official launch mentioned. Pandey additionally inaugurated an exhibition on ‘Merchandise Developed underneath Aatmanirbhar Bharat’ organised at Bharat Heavy Electricals Restricted’s (BHEL) Hyderabad unit, it mentioned.

Talking on the event, the Union minister mentioned one of

Indifi Applied sciences to supply loans to retailers by Google Pay

Indifi serves the MSMEs current on these ecosystem platforms by embedded lending choices.

Fintech lender Indifi Applied sciences has entered right into a partnership with Google Pay to offer instantaneous loans to eligible small retailers on the funds app’s platform, the corporate mentioned in a press release. Indifi goals to succeed in out to 15-20{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} of Google Pay’s 10 million-strong base of small retailers.

As a participant within the digital micro, small and medium enterprises (MSME) credit score house, Indifi has already partnered with Amazon, Zomato and Swiggy. Indifi serves the MSMEs current on these ecosystem platforms by embedded lending

Mindtree internet revenue jumps 34{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} to Rs 437.5 crore in December quarter

The Bengaluru-based firm had posted a internet revenue of Rs 326.5 crore within the corresponding interval final yr.

IT agency Mindtree on Thursday posted a 34 per cent leap in consolidated internet revenue to Rs 437.5 crore for the December 2021 quarter, and exuded confidence in persevering with its development momentum on the again of strong demand and aggressive buyer mining.

The Bengaluru-based firm had posted a internet revenue of Rs 326.5 crore within the corresponding interval final yr. Its income grew about 36 per cent to Rs 2,750 crore within the quarter below evaluation from Rs 2,023.7 crore within

CD issuances sharply rise in Oct-Dec as credit score development picks up

Of the whole quantity, greater than 87{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} fund-raising was performed by 5 banks – Axis Financial institution, HDFC Financial institution, Financial institution of Baroda, IndusInd Financial institution, and RBL Financial institution.

By Manish M Suvarna

Fund-raising by means of certificates of deposit (CDs) rose by greater than 90{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} quarter-on-quarter in October-December, as banks raised funds to satisfy their funding necessities following a development within the credit score offtake and rollover of debt devices that have been set to mature within the third quarter of this fiscal.

Issuances additionally surged after the Reserve Financial institution of India (RBI) within the October

Fantasy sports activities corporations contribute biz price Rs 3,000 cr final 12 months: Dream Sports activities CEO

In the course of the IAMAI Digital Summit, Dream Sports activities co-founder and CEO Harsh Jain mentioned the corporate is trying to spend money on start-ups and something that makes sports activities higher.

Fantasy sports activities corporations, which have interaction with customers on-line, invested over Rs 3,000 crore final 12 months throughout varied segments, together with shopping for media rights and sponsoring gamers, a high official of Dream Sports activities mentioned on Tuesday.

In the course of the IAMAI Digital Summit, Dream Sports activities co-founder and CEO Harsh Jain mentioned the corporate is trying to spend money on start-ups and

UP govt to confiscate Bajaj Hindusthan’s receivables to pay arrears to cane farmers

The Uttar Pradesh Cupboard has authorised the proposal to confiscate Rs 1,000 crore from Bajaj Hindusthan’s energy plant within the state to pay cane farmers.

Appearing on its newly-enacted laws relating to the defaulting sugar mills, the Uttar Pradesh authorities has determined to confiscate energy funds of Rs1,000 crore as a result of Bajaj Hindusthan’s Lalitpur Energy plant from the Uttar Pradesh Energy Company (UPPCL) to clear the excellent sugarcane dues to farmers within the state. The UPPCL can pay the dues in two tranches of Rs 500 crore every, which might be transferred into the escrow account of the