Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Four months after giving an in-principle nod to <keyword id="6010758" type="General" weightage="20" keywordseo="centrum-financial" source="Orion">Centrum Financial</keyword> Services and <keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword> to establish a <keyword id="6382595" type="General" weightage="20" keywordseo="small-finance-bANK" source="Orion">small finance bank</keyword>, the <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword> on Tuesday granted a licence to the consortium that had expressed interest to take over the crisis-impacted Punjab and Maharashtra Cooperative (PMC) Bank. In June, the Reserve Bank had given the in-principle approval for the SFB licence to the consortium against its interest to take over the PMC Bank, a city-based cooperative lender under restrictions for more than two years after a massive over Rs 7,000-crore fraud at the lender. In a joint statement, <keyword id="59288" type="General" weightage="20" keywordseo="centrum" source="Orion">Centrum</keyword> and BharatPe, which are uniting equally to build the SFB, said the RBI's final approval has been received earlier in the day, and this is the first time in six years that the central bank has given a banking licence. Earlier in the day, BharatPe announced that former SBI veteran Rajnish Kumar is joining its board as the chairman and will be playing the role of a mentor for the fintech's team on the path to forming an SFB. The new SFB has been incorporated as "Unity Small Finance Bank" and the business model is "one of collaboration and open architecture", uniting all its stakeholders to deliver a seamless digital experience, the statement said. However, details about how the amalgamation with Punjab and Maharashtra Cooperative (PMC) Bank will happen from an operational perspective were not known immediately. The statement said Centrum's MSME and microfinance businesses shall be merged into Unity Small Finance Bank. "We are delighted to receive the licence and excited to partner with BharatPe to create this new age bank, with a strong team. We aspire to be India's first Digital Bank," Centrum Group's chairman Jaspal Bindra said. "We will work tirelessly and smartly to capture this opportunity and build India's first truly Digital Bank ground up," Ashneer Grover, the co-Founder and managing director of BharatPe, said. While granting the in-principle nod on June 18, the RBI had said that the approval has been accorded in specific pursuance to the Centrum Financial Services' February 1 offer expressing interest to take over PMC Bank. SEE ALSO <a href="https://www.businessinsider.in/india/news/the-depth-of-indias-power-crisis-22-power-plants-shut-govt-says-coal-crisis-overblown/articleshow/86969860.cms" data-type="tilCustomLink">The depth of India's power crisis</a> <a href="https://www.businessinsider.in/stock-market/news/from-home-sales-and-jewellery-to-power-consumption-these-sectors-are-back-to-pre-pandemic-levels/articleshow/86976154.cms" data-type="tilCustomLink">From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels</a> <a href="https://www.businessinsider.in/careers/news/if-you-have-these-digital-skills-then-you-can-expect-a-double-digit-salary-hike-next-year/articleshow/86970342.cms" data-type="tilCustomLink">If you have these digital skills, then you can expect a double digit salary hike next year</a>

Three-year-old BharatPe and Centrum gets RBI nod to set up a small finance bank

In a bid to taste entrepreneurship challenges and have more say in decision making of a company, mid-level executives are turning down offers from foreign banks and institutions to join domestic financial services companies. 
 Many professionals are leaving their sought-after jobs at HSBC, CitiBank, Morgan Stanley, DBS, <keyword id="6361649" type="CITY" weightage="80" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>, etc to join Edelweiss, India Infoline and Centrum. 
 
"I declined offers from two foreign banks with overseas relocation opportunities, but joined IIFL," Himanshu Bhagat, who recently joined India Infoline (IIFL) Wealth Management as a managing partner a few days ago, told Economic Times. 
 
He said he left the job to seek fresh challenges and be a part of the growth history of the company. 
 
Bhagat is not a rare example as many executives between the age group of 35 and 45 years are giving up their jobs, which is leading to brain drain as well. 
 
Due to this, the number of employees at the domestic financial services companies has gone up. 
 
ET reported that at India Infoline, about three-fourths of more than 50 bankers it hired in the past one year came from foreign institutions, which also included Anil Ahuja, chief investment officer at IIFL Global, who was earlier Asia managing director of 3i Group Plc. 
 
Even at Edelweiss Group, it appointed 25-30 people from global financial institutions in the rank of vice-president. 
 
"We want to promote people as personal brands and completely empower them to contribute in building business by using their skills, experience and relationships," Arpita Vinay, executive director at Centrum (Wealth), told the financial daily. 
 
Varun Prakash, director, private wealth at Centrum, who joined from Standard Chartered told ET, "The company balance sheet size is growing fast leaving opportunity for my individual growth." 
 
(Image: Thinkstock)

Mid-level executives are turning down swanky job offers from foreign banks. Find out why

<ul><li>Earnings of Indian tech companies are slowing down but the share prices are still hot! </li><li>The stock of Infosys, TCS, HCL Tech, and Tech Mahindra have rallied while earnings estimates have been cut</li><li>The margins of these software exporters have shrank despite a favourable exchange rate against the US dollar. </li></ul>Earnings of Indian tech companies are slowing down but the share prices are still hot! The stock of Infosys, TCS, HCL Tech, and Tech Mahindra have rallied while earnings estimates have been cut. The business from banking and retail clients — which make for nearly half of the revenue for Indian IT firms — have slowed down. The margins of these software exporters have shrank despite a favourable exchange rate against the US dollar. But the stocks have gained as much as 18% this year. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/1163501"></div>
]]></cdata></div>

































 The financial performance of these companies is not going to improve in a hurry. Foreign investors know this, which is why they pulled out the maximum chunk of their money in India from this sector. Yet local investors are buying into these stocks and the managements' narrative that the growth in digital businesses will offset the weak demand for legacy services — that has led to the sharp rise in stock prices when the growth is getting capped. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/1105366"></div>
]]></cdata></div>





























 Meanwhile, the EBIT (earnings before interest and tax) margins for the top four IT companies have fallen by 350 bps to 21.7% over the last 5 years until the end of September 2019, according to a recent Ambit report. This is despite a 16% fall in the value of rupee, which should ideally boost the margin because these firms make most of their revenue in dollars. The pain is far from over and the margin could fall another 120 basis points by the end of financial year ending March 2022, according to Ambit. The pain for TCS is getting worse Tata Consultancy Services (TCS) is likely to end 2019 on a sombre note. The software exporter owned by the Tata Group is likely to clock a revenue growth of less than 1% in constant currency terms between October to December 2019 quarter compared to three months ago, according to Centrum, a Mumbai-based broking house. Banking and retail verticals have decelerated further, the management told analysts at Centrum. The two verticals account for nearly 46% of the technology major's revenue. The slowdown could affect the full-year earnings too— Centrum expects the growth for financial year ending March 2020 to 8.5% before accounting for exchange rate changes. This would be sharply slower than the 11.4% the company clocked in the previous financial year. Infosys may be relatively better off The expected slowdown for TCS is coming at a time when Infosys is looking to reclaim the coveted pole position among India's IT stocks. The company has reportedly stepped up efforts to bag more deals, and bigger ones, with a special focus on government contracts in the Asia-Pacific region. Further, analysts at HDFC Securities recently said that Infosys could make $100 million to $150 million just from cost-saving initiatives. However, these are just efforts for which results are yet to be seen. In the mean time, as business gets tighter for the technology majors, they are looking to reduce cost by hiring more freshers. They are trying to bring costs down by hiring more people straight out of engineering colleges, and reducing the strength higher up in the corporate hierarchy. In the first 6 months of the year, the five tech companies named above hired over 64,000 freshers. TCS alone picked up 26,500 employees, and a large part of it has been at the bottom of the pyramid. That's not great news for people looking to spike their salary by changing jobs. SEE ALSO: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="Article" hostid="261" msid="71521639" title="TCS earnings growth gets squeezed by slowing economies across the world" mstype="2" mssubtype="0"></div>
































































































 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="Article" hostid="261" msid="71524019" title="TCS plans to add 30,000 freshers to its ranks to reshape its cost structure" mstype="2" mssubtype="0"></div>

Indian techies looking to change jobs in 2020 — business is getting tighter for the likes of Infosys, TCS, HCL Tech and their peers

Mumbai, Feb 1 () Notwithstanding the deep distress shown by the investors, market intermediaries and other participants have welcomed the Union Budget.
In one of the strongest negative reactions to the budget, the benchmark Sensex tanked 2.43 per cent on Saturday.
Brokerage-turned-diversified financial services player IIFL's founder and chairman Nirmal Jain sought to attribute the heavy selling to "high expectations" ahead of the budget.
BSE chief executive Ashishkumar Chauhan said the finance minister has delivered a "growth, consumption- and job-oriented blueprint to promote inclusive growth".
The Association of National Exchanges Members of India, a union of trading members, said the market reaction was "slightly overdone on the negative-side".
"The government has definitely put more money in the hands of investors, particularly retail investors. The counterbalancing impact will be seen by the markets going forward and, in my view, stability would prevail as we go forward," its president Vijay Bhushan said.
Sampath Reddy, the chief investment officer at Bajaj Allianz Life, termed the budget as inclusive, which is focusing on increasing disposable incomes and rural sector.
"We expect the markets to soon digest the budget and move onto fundamental and global factors over the coming months," he added.
However, the head of financial services firm Centrum, which has its genesis in the broking business, was a bit circumspect.
"The government has walked a few steps forward to bring back economic momentum, but a lot more remains unaccomplished. We look forward to few more policy measures being announced in the near future to address some seriously affected sectors and lift market sentiments," it said. AA BEN BAL

Analysts hail budget, say mkt reaction 'overdone' on negative side

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.flickr.com/photos/campuspartymexico/4889885422/in/photolist-8s6Wzm-8s4c3F-8s5Fe9-8shFMJ-8shHfN-8shHid-8s4awt-8s7dqW-8s4dVM-RtTnPj-8s4c2v-7yDfCA-8s3TMt-8s4awF-7GLYaU-8s7dqo-8s5Fg9-8seC8c-8s4aw6-8s4dVx-8s4dW6-8sFwjr-6CSKj5-56TAHN-8s4axD-6CSL8N-6CNAZk-6CSL2C-aYLmZg-6D9g3N-aYLj54-8skGRj-aYLj4k-6D8FaG-sviyoX-6CWwG7-6CWuny-6CSoMD-6CWyc1-7DtQ9r-6CSnyb-6CSpcW-8s7eVL-6CSqRG-6D8F4W-6CWzgq-6CSq3S-6CSqw1-7yDcBL-6CSJRY">Campus Party México</a></div></div></div><ul><li>Kevin Mitnick, the world's most famous hacker, is one of many to have been confirmed as a speaker at the INSIDE TRENDS conference.</li><li>The event is expected to be one of the biggest on business trends in Europe this year.</li><li>The conference will answer questions on how technologies could revolutionise finance, the media, medicine and health.</li><li>The event is set to go ahead over October 18 and 19 at the Centrum Praskie Koneser in Warsaw.</li></ul> Organised by Business Insider Polska, Business Insider's INSIDE TRENDS conference is confirmed to be taking place on October 18 and 19 this fall. The conference, which will see world-class experts hosting discussions on global market trends, is expected to be one of the biggest events on business trends in Europe this year.The event will answer questions on how new technologies will revolutionise modern finance, the media, medicine and health - as well as questions on how we'll soon be living within the next two to three years.Set to take place at the Centrum Praskie Koneser in Warsaw, confirmed speakers at INSIDE TRENDS include world-famous hacker Kevin Mitnick, inventor of the flying car Juraj Vaculik, as well as Igor Bogicevic, whose company Seven Bridges Genomics is working on replacing human drug trials with algorithms.Divided into three thematic zones - "FinTech", "Life Science" and "Business 4.0" - the conference will be attended by 1000 professionals with backgrounds ranging from marketing and the media to science and business.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://aeromobil.com/">AeroMobil</a>Juraj Vaculik, who innovated a flying car, is just one of many confirmed to be speaking at the INSIDE TRENDS conference.</div></div></div>Talking about the conference, Jovan Protic, COO of Onet-RAS Polska Group, said: "With blockchain, cryptocurrencies and AI, the financial sector will never look the same. There is a lot of talking but there are rarely easy answers and digestible information that can inform our strategies on fintech."He emphasised that INSIDE TRENDS is about concrete, pragmatic advice that's applicable within the next two to three years, and will better your strategy for future.In addition to the aforementioned, the following guest-speakers have also been confirmed for the conference:<ul><li>Thomas Krogh Jensen , Managing Director of Copenhagen FinTech.</li><li>Atanas Raykov Business Development Director of CIS &amp; CEE in Viber.</li><li>Felix Oberholzer-Gee business strategies researcher at the Harvard Business School.</li><li>Laurenti Arnault CEO of WT Vox, a company supporting fashion innovation with AI and VR technology.</li><li>Arkadiusz Hajduk President of the Management Board of MEDDO S.A., a company offering health technology using AI and deep learning.</li><li>Edyta Kocyk Businesswoman of the Year 2014 in two categories and co-founder at SiDLY.</li><li>Wojciech Radomski founder of StethoMe™, the world's first electronic stethoscope for respiratory health.</li><li>Tomasz Czechowicz co-founder and partner of the MCI Capital fund.</li><li>Fedele Di Maggio co-founder and CEO of DiPocket Limited, creator of financial management applications.</li><li>Karol Sadaj who specialises in international payment solutions such as the Revolut multi-currency card.</li><li>Maciej Szurek co-founder and CMO RemmedVR, which uses virtual reality in medicine.</li><li>Łukasz Dyląg founder and CEO of VoicePIN, which uses speech recognition technology in business.</li><li>Ross Sleight CSO of the SOMO consulting company, and an expert on markets and consumer behaviour.</li><li>Bartosz Borucki of the University of Warsaw,uses mathematical models, machine teaching, artificial intelligence and visual methods to support radiology, diagnostics and surgery.</li></ul>In addition to the conference program and a list of guest speakers, you can find more information about Business Insider INSIDE TRENDS <a href="https://insidetrends.businessinsider.com.pl/">here</a> and journalists can also get involved with the event using <a href="https://insidetrends.businessinsider.com.pl/prasa/"> this form</a>.<a href="http://www.businessinsider.com/intelligence/future-of-zelle-venmo-and-p2p-payments?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=payments_ctgr_leadgen&amp;utm_campaign=payments_ctgr_leadgen_future-of-zelle"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/sara-blakely-spanx-ceo-offers-advice-redefine-failure-retail-2016-7">Learning to celebrate failure at a young age led to this billionaire's success</a></h3> <div> </div> </div>

World famous hacker Kevin Mitnick confirmed as one of many speakers at INSIDE TRENDS conference

Mumbai, Apr 25 () At least 328 entities across sectors, including state-owned and those backed by big conglomerates, have opted for availing the Reserve Bank's three-month moratorium on their debt repayments, rating agency Icra said on Saturday.The list of entities, rated by it, include Air India Express, ONGC Petro Additions, entities from Tata Group, JSW Group and GMR Group.On March 27, the RBI had given borrowers a three-month moratorium on debt repayments for the March-May period due to the COVID-19 pandemic. This is a voluntary measure and interest keeps accruing on the loan during the period of moratorium, and experts have opined that such a move would generally elongate the loan repayment period.Icra said it is disclosing the names of the entities as per a mandate received from Sebi, and made it clear that missed payment by these entities even in the case of pending formal approval from the lending institutions prior to the original due date, is not considered an instance of default.Air India Express having a debt of Rs 1,301 crore, and ONGC Petro Additions - which had debt of Rs 33,180 crore and USD 155 million in foreign borrowings, have opted for the moratorium on its loans, the agency said.Interglobe Hotels, with debt of Rs 811 crore, and having its outlook on rating revised to negative earlier this month due to worries on the hospitality sectors, has also opted for the moratorium, it said, adding that other hospitality sector companies, including Lemon Tree Hotels, and Barbeque Nation Hospitality have also sought relief.Among the financiers, city-based Centrum Financial Services, Creditaccess Grameen, Indostar Capital Finance, Madhura Micro Finance and Spandana Sphoorty Financial have opted for delays in their repayment of their debt commitments - like on commercial paper borrowings, even as banks are yet to arrive on whether to accord the relief to the NBFCs.Entities in the GMR Group, including GMR Ambala Chandigarh Expressways (Rs 240 crore debt) and GMR Hyderabad Aviation SEZ (Rs 58 crore) have opted for the moratorium provided by the RBI, it said.Similarly, three entities in the Sajjan Jindal-led JSW Group also seem to have opted for the moratorium, including JSW Steel (Rs 71,952 crore debt), the unlisted JSW Paints (Rs 160 crore), the agency said.Tata Group entities, including Tata Power (Rs 7,231 crore debt), Taj GVK Hotels and Resorts (Rs 195 crore), and Tata Power Renewable Energy, have opted for the relaxations, it said.Billionaire Ajay Piramal-led companies, including the flagship Piramal Enterprises and Piramal Capital and Housing Finance (nearly Rs 30,000 crore debt) have also opted for the relaxation offered by the central bank, as per the data disclosed by Icra.Kalyan Jewellers having an outstanding debt of Rs 3,555 crore as of September 2019, and private sector milk operator Parag Milk Foods, which had a debt of Rs 390 crore, have decided for opting for the leeway on debt repayments, the agency said. AA BALBAL

You Searched For "centrum financial" and got 6 results

Three-year-old BharatPe and Centrum gets RBI nod to set up a small finance bank

Kritti Bhalla

Mid-level executives are turning down swanky job offers from foreign banks. Find out why

BI India Bureau

Indian techies looking to change jobs in 2020 — business is getting tighter for the likes of Infosys, TCS, HCL Tech and their peers

Sriram Iyer

Analysts hail budget, say mkt reaction 'overdone' on negative side

PTI

World famous hacker Kevin Mitnick confirmed as one of many speakers at INSIDE TRENDS conference

Ruqayyah Moynihan

About 328 entities opt for RBI's 3-month moratorium: Icra

PTI

Popular Keywords

Buying Guides