Axis Bank & Muthoot Microfinance have joined forces with Yubi to provide lending services to microfinance institutions. Axis Bank will use Yubi's platform to diversify its portfolio, while Muthoot Microfin will handle sourcing and collection. This partnership will benefit the MFI sector and both companies.

The going has always been good for non-resident Indians (NRIs), particularly those based out of the United Arab Emirates (UAE). For one, they do not have to pay any income tax in that country. Two, they can also take advantage of a double taxation avoidance agreement (DTAA) signed between the UAE and India, and thus avoid capital gains taxes on investments made here, say financial experts.

Standard Chartered, one of the largest European banks operating in emerging markets, is considering restructuring its institutional banking arm to improve returns. This could involve separating its IB from its corporate and commercial banking operations and potentially lead to job cuts. The move, still under consideration, is part of CEO Bill Winters' efforts to boost the bank's performance.

Mumbai court denies bail to real estate businessman Sanjay Chhabria in money laundering case related to Yes Bank. ED has accused him of playing a role in diverting funds procured by bank's founder and DHFL promoter. Judge says offence is serious and Chhabria failed to prove his innocence, while prosecution established reasonable grounds for believing his guilt.

On February 12, 2024, Federal Bank launched the Stellar Savings Account, featuring a one-year wellness plan, insurance coverage, milestone benefits, accelerated reward points, and an eco-friendly debit card. This innovative account aims to support customers' overall well-being and financial security while providing exclusive perks and privileges for their banking achievements.

Jefferies India predicts that Adani Enterprises, the flagship company of the Adani Group, will see a significant increase in profits due to its diversified businesses such as airports and green hydrogen. They have initiated coverage on the stock with a "buy" rating and a target price of Rs 3,800, expecting a 20% upside potential. The group's strong industry presence and potential value unlockin...

A private equity firm, Carlyle, plans to sell its 24% stake in Bharti Airtel Ltd's data centre unit, Nxtra Data Ltd. The sale could fetch triple the amount invested as the demand for data centres is growing rapidly in India. Nxtra has shown strong revenue growth and has a strong partnership with Airtel, making it a crucial asset.

Info Edge founder Sanjeev Bikhchandani believes that the market will remain skeptical of loss-making startups unless they can show a clear path to profitability. However, there has been some improvement in recent years, with companies like Zomato, Paytm, and PB Fintech turning profitable. This has led to a change in investor sentiment towards tech companies.

Zee Entertainment may face layoffs and cost-cutting measures as it re-evaluates its plans following the termination of a proposed merger with Sony. CEO Punit Goenka stated that manpower reduction will be part of their cost-saving strategy. The company's focus now is to improve performance as a standalone entity. In Q3FY24, Zee reported a 140% increase in profit.

The Lok Sabha elections are approaching, but the markets seem unperturbed. Alok Singh, CIO of Bank of India Investment Managers, believes PSU stocks are well-positioned for economic growth and will continue to perform. He doesn't think the banking sector is oversold and expects market stability despite the upcoming elections.

Rudra Gas Enterprise IPO allotment status is now available on Link Intime India Private Limited's portal. The IPO, which was subscribed over 350 times, will be listed on February 15. Investors can check their share allocation by logging into the website of Link Intime and entering their PAN, application number, DP/Client ID, or account number/IFSC.

Godrej Properties Limited has acquired 12.5 acres of land in Rajendra Nagar, marking their entry into Hyderabad. The project is expected to generate revenue of Rs 3,500 crore and will offer premium residential apartments. With excellent connectivity and established infrastructure, the project aims to cater to discerning homebuyers looking for high-quality living experiences.

The insurance regulator has approved Go Digit’s plan for a public share sale, two people aware of the development said, after faulting the digital insurer last year over a non-disclosure. The approval from the Insurance Regulatory and Development Authority of India (Irdai) clears one key hurdle for the Fairfax-backed company on the road to its ₹1,250 crore initial pubic offering (IPO).

OPEC is predicting strong global demand growth for oil in 2024 due to robust economic activity in China and air travel. This contrasts with IEA's prediction of decreased growth, citing economic challenges. OPEC expects transport fuels to drive demand, while the IEA sees limiting factors such as tighter fuel efficiency standards and electric vehicles.

Phoenix Mills, a retail-focused mixed-use developer, saw a 69% rise in net profit to Rs 297 crore for the quarter ended Dec. Income from operations grew by 44% to Rs 986 crore. Retail business contributed to this growth with consumption reaching Rs 3,296 crore, rental income rising to Rs 447 crore, and operating profit increasing to Rs 435 crore.