Digpu News

Mumbai (Maharashtra) [India], Oct 23 : Private lender Axis Bank on Tuesday reported a net loss of Rs 112 crore on a for the second quarter of current fiscal due to a one-time tax impact compared to a net profit of Rs 790 crore in the corresponding July to September quarter of previous fiscal. “The net loss was driven by a one-time tax impact of Rs 2,138 crore due to changes in the corporate tax rate. Ex of this extraordinary item, profit after tax would have been Rs 2,026 crore, up 157 per cent year-on-year,” it said in a statement. Profit before tax for Q2 FY20 stood at Rs 2,433 crore, up 109 per cent year-on-year. The bank’s total income rose to Rs 19,334 crore in Q2 of FY20 from Rs 15,959 crore in Q2 FY19. Net interest income grew by 17 per cent to Rs 6,102 crore from Rs 5,232 crore in Q2 FY19 while net interest margin for Q2 FY20 stood at 3.5 per cent. The bank showed improvement in asset quality with gross non-performing assets (NPAs) falling to 5.03 per cent of gross ad...

The Microfinance Institutions Network (MFIN) bond transaction marks the first international bond by an Indian non-banking finance company to debut in 144A/Reg S market, allowing it to tap the US investor base in addition to Asia and Europe. Kochi (Kerala) [India], Oct 22, 2019 : Muthoot Finance Ltd, the largest gold loan company in India, has raised 450 million dollars by selling foreign currency bonds to international investors in its maiden issue of such an instrument. The company plans to use proceeds for both refinancing and other business purposes. The initiative is in accordance with the Reserve Bank of India’s external commercial borrowing guidelines and other applicable laws. The Microfinance Institutions Network (MFIN) bond transaction marks the first international bond by an Indian non-banking finance company to debut in 144A/Reg S market, allowing it to tap the US investor base in addition to Asia and Europe, Muthoot Finance said in a statement. The company eng...

There is a popular quote among the international business community, “21st century belongs to Asia”. This is true for the most part since Asian countries have become the driving force of the global economy. India has been in the centre of this driving force and the stock market is its fuel. The stock market of India has been touching new milestone now and then, So much so that it now 7th biggest stock market in the world. We are looking at innovative stock market businesses which not only progress themselves but also support the market too. Venteskraft is one such business venture, which has been proven significant to countless other businesses and has progressed so far that it will soon become among the top ten in India. Left-Mahin BS, Right-Rahul Rajeev Venteskraft was co-founded by Rahul Rajeev Kakkookkal and Sheeja Mahin Balachandran in 2017. The company was registered at Registrar of Companies, Bangalore. It is a coming of age business venture because the way the company w...

Your credit card’s credit limit indicates the amount that the issuer allows you to use. This is important because with a high credit limit you can make big-ticket purchases, improve your credit score, avail of a loan in an emergency and capitalise on offers, discounts, and reward points. If you are someone who is prudent with their finances, an enhanced credit limit gives you a greater degree of flexibility and security. From improving your chances of faring well with the issuer’s automated credit limit algorithm to making a request yourself, here are 5 tips to successfully obtain a  credit card limit increase . Work on improving your credit score Credit scores generally range from 300 to 900 and speak of your repayment capabilities according to how you have managed credit in the past. Thus, financiers check your credit score before approving a higher credit limit. While a score of around 700–750 suffices to get a credit card on favourable terms, you may need to improve...