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Mumbai, Revenue growth for multiplexes will slow down to 10-15 per cent in FY25 from the 20-24 per cent expected in FY24, a domestic ratings agency said on Wednesday. The profit margins will widen marginally, but will continue to be lower than the pre-pandemic levels due to the competition faced by the industry from over the top service providers like <keyword id="19897536" type="General" weightage="20" keywordseo="netflix" source="keywords">Netflix</keyword> and Amazon Prime, the report by <keyword id="19955699" type="General" weightage="20" keywordseo="crisil-ratings" source="keywords">Crisil Ratings</keyword> said. The topline will grow 10-15 per cent to Rs 7,300 crore in FY25, it estimated, adding that in FY24, the revenue growth was higher due to a slew of big-budget releases, especially from Hindi films like Gadar 2 and <keyword id="19897076" type="General" weightage="20" keywordseo="jawan" source="keywords">Jawan</keyword>, it said. The operating profit will grow by 4 percentage points to 14 per cent in FY24 on the rising revenues, and will widen further to 15 per cent in FY25, the agency said. "But that number (margins) will still be lower than the pre-pandemic level of 18-20 per cent, given the competition from Over-The-Top (OTT) content," the report said. The agency said OTT continues to benefit from high-quality and diverse content available on-tap and the competition from such platforms will keep occupancies below the pre-pandemic level going forward as well. Occupancy surged to 25 per cent in FY23 from 16 per cent in FY22, but remained below the pre-pandemic level of 30-32 per cent in FY20 amid increased penetration of OTT, it said, adding that Hindi films significantly underperformed than regional ones. "With movie producers aligning better with audience preferences and a stronger regional film pipeline, occupancies should remain at 26-28 per cent next fiscal and over the medium term," the agency's Director <keyword id="19955698" type="General" weightage="20" keywordseo="naveen-vaidyanathan" source="keywords">Naveen Vaidyanathan</keyword> said. Continued supply of high-quality movies focusing on the large-screen experience will be crucial to sustain and improve occupancy at multiplexes, the agency noted. The agency's team leader, <keyword id="20763273" type="General" weightage="20" keywordseo="shivaramakrishna-kolluri" source="keywords">Shivaramakrishna Kolluri</keyword>, however, said the slower revenue growth will take the topline to an all-time high, and attributed the same to factors such as addition of screens, rising movie ticket prices amid cost inflation and focus on premium formats. Increasing spends on refreshments following more offerings and menu revisions will also help drive the revenues, Kolluri said.

Multiplexes' revenue growth to dip to 15% in FY25 as OTTs crimp profit margins

<keyword id="6361420" type="DOMAIN" weightage="20" keywordseo="IDFC">IDFC</keyword> First Bank on Friday said its Managing Director and Chief Executive Officer <keyword id="390118" type="PERSON" weightage="20" keywordseo="V-Vaidyanathan">V Vaidyanathan</keyword> has sold 2.75 crore shares for approximately Rs 58 crore to close ESOP loan availed by him. Vaidyanathan intends to sell about Rs 35 crore worth of stocks on Friday to entirely repay the residual <keyword id="1478117" type="ORGANIZATION" weightage="20" keywordseo="employee-stock-option">Employee stock option</keyword> plan (ESOP) loan taken for exercising his ESOP shares to release his pledged shares, IDFC First Bank said in a filing to <keyword id="35140" type="COMPANY" weightage="20" keywordseo="BSE">BSE</keyword>. "We have received an intimation from V Vaidyanathan, Managing Director and Chief Executive Officer of the Bank that he has sold 2,75,58,412 shares on 19th March 2020 for approximately Rs 58 crore to close ESOP loan availed by him," IDFC First Bank Ltd said. "He has explained that with this sale he will have nil ESOP loan, and will not need to sell any more shares in the foreseeable future," IDFC First Bank said. "I would like to clarify that I still hold 4,23,47,144 shares (0.88 per cent) after yesterday's (Thursday) sale," Vaidyanathan said in an intimation to Compliance Officer. "The prices of the <keyword id="6368159" type="UNKNOWN" weightage="20" keywordseo="stock">stock</keyword> has come down recently due to the coronavirus related development in the stock market across all sectors including all banks which resulted in margin call, and at this stage I decided to sell the stock to entirely square the ESOP loans. With the sale of Rs 35 crores expected today, my loans against shares will be nil. I have no other loans other than a home loan," he said. The shares of IDFC First Bank were trading at Rs 21.15 a piece on BSE, up 2.42 per cent from the previous close. SID SID ANSANS

IDFC First Bank CEO Vaidyanathan offloads shares worth Rs 58 crore

Most of you would be quite jealous to know about <keyword id="6357940" type="CITY" weightage="100" keywordseo="Paypal">PayPal</keyword>'s new paid policies. 
 By enhancing its caregiving <keyword id="4147369" type="UNKNOWN" weightage="20" keywordseo="paid-leave-policies">paid leave policies</keyword>, it has given its Indian employees the provision of taking more than double the current maternity leaves (from 12 to 26 weeks) and double the paternity leave (from 5 to 10 days). 
 
The company has also introduced paid adoption leave of 16 weeks for its female employees, while the paternity policy has been adjusted to include adoption leave within its mandate. 
 
The move, the company claims, is part of PayPal’s efforts to ensure a balanced approach to work and life among its employees in the country. 
 <keyword id="341174" type="PERSON" weightage="20" keywordseo="Jayanthi-Vaidyanathan">Jayanthi Vaidyanathan</keyword>, ‎Director, Human Resources, PayPal said - “At PayPal, we believe that fostering an open, diverse and innovation-driven culture is essential for our employees to be at their creative best. As part of this effort, our extended caregiving policies not only enable women to come back to work after having children, but also offer a supportive, family-friendly environment for both parents." 
 
She added - "We are aware that enabling an inclusive workplace also includes helping fathers spend more time with their newborn children and our enhanced paternity leave, along with the newly introduced adoption leave policy, reflects our understanding of the evolving family dynamics among our employees.” 
 
The extended caregiving leave policies are effective from January 1, 2017. At a time when Indian companies have been facing flak for lacking mandatory leave policies for employees, PayPal's caregiving policies comes as a ray of hope that several others will follow suit and make their workplace an employee-friendly space.

PayPal's 'Paid Leave Policies' define how companies can guarantee work-life balance to their employees

When a boy named <keyword id="133007" type="PERSON" weightage="100" keywordseo="Jaskaran-Singh">Jaskaran Singh</keyword> from Delhi secured admission to Indian Institute of Management (IIM-B), Bangalore just two days ago, one person was super proud of his achievement - Mr <keyword id="3321960" type="UNKNOWN" weightage="100" keywordseo="Vaidyanathan-Singararaman">Vaidyanathan Singararaman</keyword>. 
 It was a Monday, and we were busy kick starting another new week, but Mr Singararaman wanted the world to stop and take notice of this boy. He took to his <keyword id="6354576" type="CITY" weightage="100" keywordseo="Facebook">Facebook</keyword> page to narrate what a remarkable day it was. One of hope, one of love and one to take inspiration from.. 
 He told us - Jaskaran, a student with Spinal Cord Injury at the cervical level, had become the first of his kind to make way into the Post Graduate Diploma in Business Management at one of the <keyword id="46923" type="ORGANIZATION" weightage="100" keywordseo="IIMs">IIMs</keyword> in the country. Basically, he is now an MBA student at <keyword id="60501" type="COMPANY" weightage="100" keywordseo="IIM-Bangalore">IIM Bangalore</keyword>. 
 
For a person who is paralysed neck down (a quadriplegic technically saying), one who can barely move his fingers and uses a custom made wireless keypad at work, it’s unbelievable that Jaskaran scored a whopping 99.04 per cent in CAT. We know what you are wondering... He wrote the exam with the help of a scribe. 
 
“This is an absolutely remarkable effort considering that CAT Organisers (IIM-A this year) did not accede to any of his essential requests,” Mr Singararaman’s <a href="https://www.facebook.com/photo.php?fbid=10209605867804555&amp;set=pcb.10209605902325418&amp;type=3">Facebook post read</a>. 
 
It’s not his injury, but his determination to fight against all odds and emerge as the winner that makes courageous people like him extremely SPECIAL for all of us. We cannot say it has been easy for Jaskaran to get to where he is today, we probably cannot even imagine the trials and tribulations in his life. But, things would have been little more difficult for him despite having cracked the entrance, had it not been for this man who fought the system 16 years back. 
 
We are talking of Mr Singararaman, the one who wrote the Facebook post on Jaskaran on Monday. He himself suffered a Spinal Cord Injury back in 1990 and was refused readmission by IIM Bangalore. 
 (Right: Dr Suranjan with Mr Singararaman) 
"It took the efforts of Dr Suranjan Bhattacharji and my friends led by Elango Thambiah to change the mind of the management. IIM-B now is a leader in high quality access thanks to efforts spearheaded by Prof Rishikesha Krishnan, who is now the Director of IIM Indore," he says. 
 
If you are thinking about Mr Suranjan Bhattacharji, he is who changed minds in the college on denial of Mr Singararaman's readmission. A very highly regarded person in the top medicine-related places across the world, Mr Singararaman says Bhattacharji has made difference to several thousands of physically challenged persons across India. Now retired, he has gone to try and lift healthcare in a remote part of Orissa near the Niyamgiri Hills. 
 
It was probably this collective effort 16 years ago, that a deserving candidate today is not denied admission to an IIM on account of his/her health. Jaskaran, however, has done what many of us cannot do with our hands and feet fully functional. He is an inspiration for everyone. One person who he couldn't have done this without is - Divya Parashar, a Clinical Psychologist at Indian Spinal Injuries Centre. 
 
Call it a coincidence, but I was sitting with Mr Vipul Rastogi - a Behavioural Neurology and Psychiatry specialist at Medanta Hospital - today, and he pointed out to me the need for more Psychologists in our country. I relate it to this story, even though he spoke to me generally. He said: “We need more psychologists who can attend to patients suffering from such health problems. The problem is we don’t have enough psychologists, and when we refer our patients to consult them, patients refuse citing reasons that they are either busy and would prefer to have medicines prescribed or it’s an expensive deal for them. We need more such doctors who can hand hold such patients in their hour of need.” 
 
It seems Divya has set the example for more medical students to become Psychologists and make a difference. She played perhaps the most important role in Jaskaran’s life after his spinal cord injury in a road accident in which he lost his entire family. 
 
More power to you, doctor! 
 
As for Jaskaran, you my friend, have given a nation it’s moment of pride.

The Inspiring Story Of Differently-Abled Jaskaran Singh Who scored 99% in CAT, and Secured Admission at IIM Bangalore

The Gupta family from India, who control shipping company Astra Global, have accused a banker in a lawsuit of doctoring bank statements and concealing a long-running grift that robbed the family of millions of dollars.Over some 10 years, Dubai-based Iyer Vaidyanathan Narayan cultivated a tight relationship with the Gupta family between 2009 and 2019, according to a <a href="https://www.documentcloud.org/documents/22187517-astra-global-dmcc-et-al-v-narayan-et-al-complaint">lawsuit</a> filed in New York on August 16.The lawsuit claims that while Narayan was making nice with the fam, he was also draining their bank accounts. He has also been accused of providing false bank statements to keep his clients unaware of his actions.What is perhaps most bizarre (if proven true), is that reportedly Narayan — who is now in police custody in Dubai over a separate criminal complaint filed by Astra in October 2020 — is still <a href="https://www.businessinsider.com/ganesh-narayan-astra-global-lawsuit-chatwal-hotel-2022-8">reaping the profits</a>.This post first appeared in 10 Things on Wall Street, a newsletter by Insider that brings you all the biggest stories dominating the finance industry — delivered daily to your inbox. Sign up <a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street?r=US&amp;IR=T">here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://www.businessinsider.com/ganesh-narayan-astra-global-lawsuit-chatwal-hotel-2022-8"></a>1. Former Indosuez Wealth Management banker Iyer Vaidyanathan Narayan has been accused of stealing $50 million. The lawsuit also accused him of doctoring bank statements, and that the stolen money was put toward hotels in New York and Miami, and land in the Catskills.Narayan, known as Ganesh, was a managing director and the head of non-resident Indian business at Indosuez, the wealth-management arm of French bank Crédit Agricole. He flew from Dubai to New Delhi on several occasions to schmooze with the Gupta family. He attended their happy family events like a 25th wedding anniversary, and mourned with them at funerals in recent years.Despite the niceties, Narayan used <a href="https://www.businessinsider.com/ganesh-narayan-astra-global-lawsuit-chatwal-hotel-2022-8">misappropriated funds and shell companies</a> to make investments in hotels like The Chatwal in Midtown Manhattan and the Dream South Beach in Miami, according to the lawsuit.Narayan was fired from Indosuez in the second half of 2020 when the bank became aware of his alleged actions.Insider's Zoe Rosenberg and Jack Newsham have the latest on this extraordinary <a href="https://www.businessinsider.com/ganesh-narayan-astra-global-lawsuit-chatwal-hotel-2022-8">story here</a>.In other news:<a href="https://www.businessinsider.com/alternative-investing-startups-fintechs-2022"></a><div type="image" title="Alternative investing startups to watch, according to VCs, from left: Altan Insights founder and CEO Russell Lieberman, RealBlocks CEO Perrin Quarshie, and Allocate co-founders Hana Yang and Samir Kaji" height="1249" width="1666" msid="93802323" hostid="261"></div>2. Venture-capital investors poured $4.8 billion into the next frontier of alternative-investment startups in 2021. Meet six up-and-coming investing startups that VCs said are shaking up how everyday investors access alternative assets like <a href="https://www.businessinsider.com/alternative-investing-startups-fintechs-2022">private equity and fine art</a>.3. Q2, a digital-banking and lending provider to companies like Betterment and Acorns, wants to win over big names like Apple and Amazon. Its digital-banking unit is building new banking products to expand its reach, and giving itself a <a href="https://www.businessinsider.com/q2-helix-banking-fintech-winning-over-amazon-apple-2022-8">facelift in the process</a>.4. Trend-following quants dominated hedge fund performance during the first half of this year. Here are eight <a href="https://www.businessinsider.com/trend-following-quants-cta-hedge-funds-performance-2022-8">CTA funds to watch</a>.5. It's long been an open secret in Silicon Valley that Twitter has been a poorly run mess. Now, with a whistleblower sounding the alarm, Elon Musk has more ammunition in his legal battle with <a href="https://www.businessinsider.com/twitter-whistleblower-jack-dorsey-ceo-agrawal-mismanaged-company-2022-8">the social-media platform</a>.6. Mental-health companies could see further consolidation as valuations slump in a crowded market. Here are eight companies that could get snapped <a href="https://www.businessinsider.com/deal-targets-mental-health-consolidation-analysts-2022-8">up in the next year</a>.7. Before Damola Adamolekun became chief executive of P.F. Chang's, he interned at Goldman Sachs during the last recession. Here is his advice for other executives and founders on navigating an economic downturn in <a href="https://www.businessinsider.com/ceo-pf-changs-how-to-prepare-economic-downturn-2022-8">this as-told-to essay</a>.8. Marketing and media startups are a hot ticket for investors at the moment. These startups are using technology to disrupt advertising and marketing. Check out 29 pitch decks they've <a href="https://www.businessinsider.com/pitch-decks-that-advertising-media-startups-used-to-raise-millions-2021-6">used to raise capital</a>.9. The Four Seasons hotel chain will fly passengers to global destinations using its custom Airbus A321neo private jet. Itineraries, which start at $135,000, include a 13-day trip from Athens to Johannesburg, and a 16-day journey <a href="https://www.businessinsider.com/photos-four-seasons-global-private-jet-travel-itineraries-135000-2022-8">from Tokyo to Bangkok</a>.<a href="https://www.businessinsider.com/banker-of-the-week-peggy-flannery-people-sustainability-generate-capital-2022-8"></a><div type="image" title="Peggy Flannery" height="1746" width="2328" msid="93802324" hostid="261"></div>10. And here's our Friday Banker of the Week. Meet Peggy Flannery, a former Goldman Sachs sales and trading banker who left the bank to ply her trade in sustainable investing.She has just been promoted to managing director at sustainable-infrastructure firm Generate Capital, and helped the firm oversee a unique deal with Starbucks and help it raise $2 billion in the last year from long-term investors like pension funds.Check out the full story <a href="https://www.businessinsider.com/banker-of-the-week-peggy-flannery-people-sustainability-generate-capital-2022-8">here.</a>Done deals:<ul><li>Trilon Group, an Alpine Investors infrastructure portfolio company, <a href="https://www.businesswire.com/news/home/20220824005559/en/Trilon-Group-Announces-Partnership-With-Alta-Planning-and-Is-on-Track-to-Be-Ranked-a-Top-100-Design-Firm">has acquired Alta</a> Planning + Design, Inc. Alta is a sustainability-consulting firm.Trilon manages a group of infrastructure consultant firms.</li><li>Erie Insurance has launched Erie Strategic Ventures, a venture-capital fund that will invest in entrepreneurs working in personal and commercial insurance.</li></ul>Curated by Aaron Weinman in New York. Tips? Email <a href="mailto:aweinman@insider.com">aweinman@insider.com</a> or tweet <a href="https://twitter.com/aaronw11">@aaronw11</a>. Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

Doctored bank statements and a decade-long graft. This banker has been accused of stealing $50 million in a lawsuit that claims the money went toward hotels in New York, Miami, and land in the Catskills.

<ul><li><keyword id="6361420" type="General" weightage="100" keywordseo="idfc" source="Orion">IDFC</keyword> First Bank announced merger of its parent IDFC Ltd with itself in an all-stock transaction. </li><li>The boards of IDFC First Bank and IDFC have approved the reverse merger.</li><li>This is the second major deal in banking space days after the amalgamation of the HDFC twins.</li></ul>Mumbai, IDFC First Bank on Monday announced merger of its parent IDFC Ltd with itself in an all-stock transaction, marking another major deal in the Indian banking space days after the amalgamation of the HDFC twins. The boards of IDFC First Bank and IDFC have approved the reverse merger. While the bank did not provide the likely valuation of the merged entity, based on Monday's closing prices of the two companies on BSE, the valuation is Rs 71,767 crore. Under the proposed reverse merger scheme, an IDFC shareholder will get 155 shares for every 100 shares she/he holds in the bank. Both stocks have a face value of Rs 10 each, IDFC First Bank said in a statement. The share exchange ratio will result in a premium of about 20 per cent on the closing market price of the shares of IDFC vis-a-vis IDFC First Bank as of June 30, 2023. IDFC Chairman <keyword id="137177" type="General" weightage="20" keywordseo="anil-singhvi" source="Orion">Anil Singhvi</keyword> said the merger is the last phase of IDFC's corporate restructuring and will help create a financial services provider that offers seamless delivery of services to customers. It will augment operational efficiency for the merged entity and create synergies for our shareholders. Post the merger, the standalone book value per share of the bank will increase by 4.9 per cent, as calculated on the audited financials as of March 2023, it said, adding as of June 2023, IDFC through its non-financial holding company, owned 39.93 per cent in IDFC First Bank. IDFC First Bank's market capitalisation stood at Rs 54,311.48 crore at close today, after the stock rallied 3.2 per cent to Rs 81.94 on the BSE, while IDFC mcap stood at Rs 17,456 crore after its counter rallied 6.3 per cent to Rs 109.10, taking the combined value to Rs 71,767 crore. IDFC was an infra lender in the private sector space, and following its bigger peers like ICICI and IDBI, it also launched a banking subsidiary in 2015 -- IDFC Bank -- but could not make a mark as the other two could do. Effective July 1, India Inc's biggest merger came into effect when the mortgage major HDFC merged itself with its banking arm in an all-stock deal valued at USD 40 billion. Post-merger, announced on April 4, 2022, HDFC Bank is the world's fourth most valued bank with USD 200 billion in valuation after JP Morgan Chase, ICBC of China and Bank of America. The new giant, fully owned by public shareholders with no promoter entity, has a balance sheet of close to Rs 33 lakh crore, with the assets alone sniffing at Rs 23 lakh crore and also the largest mortgage book with close to Rs 7 lakh crore of loans. The merger will lead to simplification of the corporate structure of both entities by consolidating them and other subsidiaries into a single entity, helping streamline regulatory compliances, the companies said in separate but identical statements. Like HDFC Bank, the merged IDFC First Bank will also have no promoter entity, but fully owned by institutional and public shareholders. The merger scheme is subject to all requisite approvals from the Reserve Bank, Sebi, Competition Commission, National Company Law Tribunal and stock exchanges, and shareholders of both entities. IDFC began as an infra lender in 1997. It got in-principle approval from the RBI to set up a bank in April 2014, and in October 2015, it launched IDFC Bank when on-tap licensing began, following which loans and liabilities of IDFC were transferred to the bank. In December 2018, it took over Capital First, a consumer and MSME-focused non-bank since 2012, and was renamed as IDFC First Bank and became a full-service universal bank. Since the merger, the bank built a deposit franchise that has grown 36 per cent annually since then, and has reached Rs 1,36,812 crore as of March 2023. The bank has also increased its low-cost CASA ratio from 8.6 at the merger with Capital First to 49.77 per cent as of March 2023. The bank has 809 branches and runs 925 ATMs. Its loan book stood at Rs 1,60,599 crore with a balance sheet of Rs 2,39,942 crore as of March 2023. The bank closed FY23 with a net income of Rs 2,437 crore, and its capital adequacy ratio stood at 16.82 per cent. Its gross NPAs stood at 1.65 per cent and net NPA at 0.55 per cent. Overall gross NPAs, including legacy infrastructure financing book, is 2.51 per cent, and net NPA is 0.86 per cent. "We now embark on the next phase of our growth journey towards our long-term vision, and the merger will create sustainable shareholder value in the years to come," said Sanjeeb Chaudhuri, the chairman of IDFC First Bank. In a separate statement, IDFC also said its board approved the reverse merger with the bank, and said the composite scheme of amalgamation includes the merger of IDFC and IDFC Financial Holding Company with IDFC First Bank. IDFC First Bank MD V Vaidyanathan said: "We have built a strong deposit franchise, digital innovation, customer-friendly products, strong capital buffer, growing profitability and high corporate governance".

IDFC to merge with its banking arm in all-stock deal

Chennai, Mar 13 (): Digital payments player PayPal onFriday said it has unveiled an 'ElderCare@PayPal' initiativeoffering holistic wellness for parents of its employees.   The company said the initiative was part of its efforts toprovide employees with a supportive environment and coversparental health including physical and financial conditions.   In a statement, the company said the programme would alsocover tier II and III cities besides major cities and towns.   "At PayPal, inclusion as our core value is not only aboutincluding employees in every aspect of their work life, butabout practising inclusion of their families as well," PayPalIndia, Head-HR, Jayanthi Vaidyanathan said.   "Our new ElderCare initiative is another step over andabove our suite of programmes around child and partner care.The programme offers special initiatives and services fortheir parents and parents-in-law," Vaidyanathan, alsosenior director, Human Resources at PayPal India, said.   Some of the benefits of the programme include comprehensivehealth check, counselling assistance, home visit of doctors orphysiotherapists, yoga sessions among others.  VIJNVG   NVG

PayPal unveils ElderCare@PayPal initiative to employees

New Delhi, May 25 () Private sector IDFC First Bank on Monday said its senior management has voluntarily taken pay cut of 10 per cent due to coronavirus pandemic, while the CEO offered to surrender as much as 30 per cent of his salary. The senior management has volunteered to take a 10 per cent cut in compensation in the current financial year 2020-21, IDFC First Bank said in a statement. IDFC FIRST Bank MD &amp; CEO V Vaidyanathan has voluntarily offered to take a pay cut of 30 per cent in his compensation including fixed compensation as well as all allowances, the bank said. The Bank has honoured all offers that were made to new hires before the pandemic, including all lateral hires as well as 550 management trainees, it added. This is in keeping with the bank's philosophy of honouring its commitments in all circumstances, it said. The bank also paid 100 per cent variable pay to 78.2 per cent of employees for the period pertaining to 2019-20 despite the arrival of the pandemic, IDFC First Bank said. Further, the bank said that its staff have voluntarily contributed one day's salary totalling Rs 3.29 crore to the PM CARES Fund. In addition, it contributed Rs 5 crore to the PM CARES Fund as also MD and CEO Vaidyanathan personally contributed Rs 47 lakh towards COVID-19 relief work. In total, Rs 10.86 crore has been contributed towards the COVID Relief related activities so far and a large number of these activities are centred in Maharashtra. Besides, the new age mid-sized lender has also launched a number of COVID relief initiatives that involved its customers and employees. Ask-for-Mask, Gaon-Gaon Mask, Shramik-Sahayata Program, Share-a-meal, Jaankari mein Samajhdari, COVID Warrior-on-Wheels, and Give India Foundation programme are among the bank's COVID relief initiatives. Under these programmes, it has selected women customers and is paying them at commercial rates for producing 3.5 lakh masks. KPM BAL BAL

IDFC First Bank senior management takes 10 pc pay cut

Chennai, Jul 3 (): Equitas Small Finance Bank on Friday launched a new initiative allowing people to open savings accounts through video conference facility by revamping its mobile bank application. The web application is designed to conduct a remote verification process through a video call triggering the domain of a 'relationship executive' of the bank, a press release said. Customers can submit their details on the video call for the bank to take up verification. With the initiative, a customer can open a savings account with the bank by submitting the full KYC through video. "Today, Equitas Small Finance Bank is bringing in a new digital banking experience to its customers, the new video KYC account is a step forward towards our vision", Equitas SFB President Murali Vaidyanathan said. He said the initiative would ensure contact less, no branch visit and hassle free account opening for customers. VIJ BN WELCOME WELCOME

Equitas Small Finance Bank enhances digital banking facility

Mumbai, Jun 9 () In order to attract deposits, small finance lender Equitas Small Finance Bank on Tuesday said it has increased the rate of interest on savings account having deposits between Rs 1 lakh to Rs 5 crore to 7 per cent per annum from 5.5 per cent. The new rates are applicable from Wednesday, the bank said in a release. "We are offering customers 7 per cent interest rate per annum having savings balance between Rs 1 lakh and Rs 5 crore. We believe that this will enable existing customers and also new to bank savings account holders an opportunity to save more with better returns," the bank's president and country head (branch banking, liabilities, product and wealth), Murali Vaidyanathan, said. The lender has two slabs in the savings account deposits - up to Rs 1 lakh and above. The bank has left rates on savings account deposits up to Rs 1 lakh at 3.5 per cent. It has close to 6 lakh savings accounts. HV KPM MKJ MKJ

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Multiplexes' revenue growth to dip to 15% in FY25 as OTTs crimp profit margins

PTI

IDFC First Bank CEO Vaidyanathan offloads shares worth Rs 58 crore

PTI

PayPal's 'Paid Leave Policies' define how companies can guarantee work-life balance to their employees

Anushree Singh

The Inspiring Story Of Differently-Abled Jaskaran Singh Who scored 99% in CAT, and Secured Admission at IIM Bangalore

Anushree Singh

Doctored bank statements and a decade-long graft. This banker has been accused of stealing $50 million in a lawsuit that claims the money went toward hotels in New York, Miami, and land in the Catskills.

Aaron Weinman

IDFC to merge with its banking arm in all-stock deal

PTI

PayPal unveils ElderCare@PayPal initiative to employees

PTI

IDFC First Bank senior management takes 10 pc pay cut

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Equitas Small Finance Bank enhances digital banking facility

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Equitas Small Fin Bank hikes interest on saving account deposits

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