Wednesday, September 29

Bank

31st March is the last date of PAN-Aadhar linking 
Bank, news, Politics

31st March is the last date of PAN-Aadhar linking 

31st March is the last date of PAN-Aadhar linking. If anyone fails to do it, their permanent account number will be inoperative from 1st April. PAN-Aadhar linking is important for allowing transactions wherever quoting of PAN is required. Such customers will be affected and have to give a penalty of 1000 rupees as per the finance bill 2021.  The finance bill was passed earlier this month by the parliament. The government has passed a finance bill, where it inserted a new section- ‘234H’. According to this section  "Without prejudice to the provisions of this Act, where a person is required to intimate his Aadhaar number under sub-section (2) of section 139AA and such person fails to do so on or before such date, as may be prescribed, he shall be liable to pay such fee, as may be prescri...
Indiabulls Housing Finance (IBH) raises ₹1,091 crores through foreign currency convertible bonds
Bank, Business, Finance, Indiabulls Housing Finance

Indiabulls Housing Finance (IBH) raises ₹1,091 crores through foreign currency convertible bonds

Indiabulls Housing Finance has raised ₹150 million ( ₹1,091 crores) by issuing foreign currency convertible bonds, the company said on Thursday. The securities issuance committee has approved the allotment of secured Foreign Currency Convertible Bonds (FCCBs) of USD 150 million, convertible into equity share of Rs 2 each, Indiabulls Housing Finance said in a regulatory filing. The FCCBs, set to mature on March 4, 2026, bear a coupon rate of 4.5%. The bonds are proposed to be listed on Singapore Exchange Securities Trading Ltd. Indiabulls said as many as 4,49,91,756 equity shares of the company would be in the trade-off with the FCCBs. This is Indiabulls Housing's debut convertible bond issuance. Besides, it is also the first FCCB by a financial institution from India in the l...
India Shortlists Four Banks for Potential Privatisation – sources
Bank, Business, Finance, news, Politics

India Shortlists Four Banks for Potential Privatisation – sources

India’s government has shortlisted four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenues, three government sources said. Privatisation of the banking sector, which is dominated by state-run behemoths with hundreds of thousands of employees, is politically risky because it could put jobs at risk but Prime Minister Narendra Modi's administration aims to make a start with second-tier banks. The report said two of these banks will be selected for sale in the next financial year, 2021-22, starting April. Privatisation of these banking behemoths employing thousands may put jobs at risk, but this would let the government test the waters in the first round before moving on to bigger banks, it added. The government, how...