News of Financial Services | Financial Institutes in Gujarat

Vijaya Bank and Dena Bank amalgamate with Bank of Baroda

VADODARA (BARODA) | MUMBAI | RAJKOT – In a regulatory filing submitted by Dena Bank, Vijaya Bank and Bank of Baroda, to the Stock Exchanges in India on Tuesday, all three banks have said of having amalgamated vide the directive from Ministry of Finance, Government of India. The Bank has received a communication from Ministry

RBI certifies Reliance Cap as Core Investment Company

MUMBAI | RAJKOT – Reliance Capital Ltd said in regulatory filing submitted to the Exchanges in India on Friday of the company having received Reserve Bank of India Certification as Core Investment Company. The Company has received Certificate of Registration from the Reserve Bank of India as a Core Investment Company- Non-Deposit Taking Systemically Important

ICRA revises Credit ratings for Nandan Denim from Stable to Negative

AHMEDABAD | MUMBAI | RAJKOT – In a regulatory filing submitted to the Exchanges in India on August 21, 2018 – Tuesday under the title of lntimation of Revision in Credit Ratings, Nandan Denim Ltd informed about the credit ratings as revised by the ICRA Ltd from stable outlook to negative outlook. ICRA has revised and

GVK announces financial closure for Navi Mumbai International Airport Project

HYDERABAD | MUMBAI | RAJKOT – GVK Power & Infra Ltd informed the exchanges in India regarding the company having received financial closure from YES Bank for Navi Mumbai International Airport Project. The company said in the filing submitted to the exchanges in India of GVK led Navi Mumbai International Airport Pvt Ltd (NMIAL) has

YES BANK receives SEBI approval to launch Mutual Fund business – YAMIL

MUMBAI | RAJKOT – YES BANK India’s Bank announced that it has received the final regulatory approval (Certificate of Registration) from the Securities & Exchange Board of India (SEBI) to commence its Mutual Fund business under the name of company YES Asset Management India Ltd (YAMIL), the company said in filing submitted to exchanges on

To boost farm & MSME sector – IFC (World Bank Arm) invests USD$100 million in Mahindra Finance

NEW DELHI | MUMBAI | RAJKOT – IFC (International Finance Corporation), a member of the World Bank Group, has invested INR 6.4 billion (~USD$100 million ~ 640 crore Indian Rupees) in Mahindra & Mahindra Financial Services Ltd (Mahindra Finance), the company press release submitted to the Indian Bourses today said. This investment will enable Mahindra

Wanna Work @ one of the Great Places to Work in India! Go & apply at ADAG Company – Reliance Nippon Life

MUMBAI | RAJKOT – Anil Dhirubhai Ambani Group (ADAG) owned Reliance Nippon Life Asset Management (RNAM) (formerly Reliance Capital Asset Management Ltd) has featured amongst India’s Best Companies To Work For 2018 in a study conducted by Great Place To Work® Institute, the company said today, in the filing submitted to the exchanges in India.

Indian Bourse (NSE) seeks clarification from Gujarat Lease Financing over scheme of arrangement approval by the Company board

AHMEDABAD | MUMBAI | RAJKOT – National Stock Exchange has sought clarification from Gujarat Lease Financing Ltd to clarify the scheme of merger approved in the meeting of the Board of Directors of the company held on June 30, 2018, the bourse sought clarification from the company in context to the regulatory filing submitted by

Yes Bank to acquire stake in IndiaINX, IndiaICC (BSE’s subsidiary International Exchange & Clearing House at GIFT City)

MUMBAI | GANDHINAGAR | RAJKOT – YES BANK Ltd in regulatory filing to exchanges said of intent to acquire stake in India International Exchange (IndiaINX) Ltd and India International Clearing Corporation (IndiaICC) Ltd, both exchange and clearing corporation are wholly owned subsidiary of BSE, operational in International Financial Services Centre (IFSC) at Gujarat International Finance

Gruh Finance declares bonus shares, paid-up equity pegged at 1.46 billion rupees

AHMEDABAD | MUMBAI | RAJKOT – Ahmedabad headquartered housing loan player Gruh Finance Ltd announced fully paid 365 million (~36 crore 57 lakh 20 thousand 11) bonus shares of 2 rupees each to its equity-holders, further pegging the paid-up equity share capital of the company at 1.46 billion (~146 crore 28 lakhs 80 thousand 44

Anil Ambani’s ‘Anmol’ lists gaming unit CODEMASTERS in UK, raises 14 billion rupees

MUMBAI | RAJKOT – Thank God its Friday! – one of the biggest day where indeed Anmol Anil Ambani has brought fortunes for ADAG (Anil Dhirubhai Ambani led Reliance Group) as his father Anil said of Anmol bringing luck to the company since his induction on the board, while inducting him and introducing him to

JM Financial Q4 PAT up 24% YoY, declares dividend

MUMBAI | RAJKOT – Kampani family owned JM Financial Ltd’s net profit for fourth quarter ended on 31st March for financial year 2017-18 shot up 24% on year at 2.61 billion rupees from 2.10 billion rupees. Company’s topline grew 28% year-on-year for Jan-Mar at 8.58 billion rupees from 6.75 billion rupees. Commenting on the results

RBI cancels NBFC registration of Gujarat Lease Financing Ltd

AHMEDABAD | MUMBAI | RAJKOT – Reserve Bank of India, in a notice issued in newspapers acting on the application from the company has finally cancelled the registration of the company as non-banking financial company (NBFC), the RBI advertisement was published in newspapers on March 26, 2017 – Sunday, the company statement said. In a

With 1.16 trln rupee agri credit potential in FY2017-18, NABARD attains new heights in Gujarat

GANDHINAGAR | AHMEDABAD | RAJKOT – National Bank for Agriculture and Rural Development (NABARD) organised the State Credit Seminar at Narmada Hall, Swarnim Sankul, Gandhinagar today, in the session NABARD derived an estimate credit potential of 1.16 trillion (1,16,354 crore) rupees for priority sector lending, which includes a credit flow of 719.83 billion (71,983 crore)

AB Nuvo shareholders to meet on April 10 at Veraval (Gujarat) to give nod to AB Nuvo, Grasim Ind merger

VERAVAL | MUMBAI | AHMEDABAD | RAJKOT – Meetings of the Equity Shareholders, Secured Creditors and Unsecured Creditors of Aditya Birla Nuvo Ltd is scheduled to on 10th April, 2017 at Auditorium in Indian Rayon Compound located at Veraval in Gujarat State, the registered office of Aditya Birla Nuvo Ltd, the company update said. E-Voting