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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The RBI has concerns about the former Flipkart boss’s fitness to run a bank and so should SEBI on NSE’s plans to go public.
Editor's note: Ashwin here. First up, we have some exclusive news on Sachin Bansal’s banking dreams. There are problems. Three to be precise. Bansal, who is also busy preparing for Navi’s IPO, needs to sort these out before getting RBI’s approval. On the other hand, there is a strong case for market regulator SEBI to quash NSE’s IPO plan. The “yogi” episode should be the final straw in a long list of blunders by the exchange. Read on. Navi’s banking plans under scanner The Reserve Bank of India’s committee to screen new bank licence proposals is said to be harbouring concerns over an application by Sachin Bansal’s microfinance firm Chaitanya India Fin Credit for conversion to a universal bank. The committee is concerned that Bansal may not pass the fit and proper criteria and has apprehensions on his Navi group’s ownership of an insurance company, people aware of the matter said. Customer complaints over Navi’s mismanagement of personal data could also figure high in the central bank committee’s screening of Bansal’s application. Meanwhile, on 8 February, Entrackr reported that Navi had converted …
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
